Hi-Tech Pipes Ltd, a prominent manufacturer of steel pipes, announced on Monday, August 19, that its board of directors has approved a plan to raise up to ₹600 crore. The company aims to generate these funds through the issuance of different types of securities, which may include equity shares, convertible preference shares, fully or partially convertible debentures, non-convertible debentures with warrants, or other eligible financial instruments.
The fundraising efforts could be executed through multiple avenues such as private placements, Qualified Institutional Placements (QIPs), further public offerings, rights issues, or any other method permitted under current laws.
The specific structure of the securities and any premium or discount associated with them will be decided based on prevailing market conditions and regulatory guidelines. The plan is contingent upon receiving necessary approvals from shareholders, as well as statutory, regulatory, and other relevant authorities.
Hi-Tech Pipes Ltd is a leading Indian manufacturer specializing in steel pipes, hollow sections, and tubes. The company has established a significant presence in the steel industry, known for its extensive product range, including galvanized steel pipes, cold-rolled coils, and precision tubes.
Over the years, Hi-Tech Pipes has built a strong distribution network across the country, catering to diverse sectors such as infrastructure, construction, energy, and automotive. With a focus on quality and innovation, the company continues to expand its manufacturing capabilities and market reach, positioning itself as a key player in the Indian steel sector.
