Hi-Tech Pipes Secures ₹105 Crore Order, Plans ₹600 Crore Fundraise

Hi-Tech Pipes has clinched a significant order valued at ₹105 crore for the supply of electric resistance welded (ERW) steel pipes, catering to customers in the burgeoning renewable energy sector. This order reflects the company's growing prominence and demand in the industry.

The new contract is aimed at reinforcing Hi-Tech Pipes' position as a key supplier for renewable energy projects, highlighting its strategic focus on this expanding market. The company is set to leverage its existing infrastructure to fulfill this large-scale order efficiently.

In a parallel move, Hi-Tech Pipes has announced plans to raise up to ₹600 crore through the issuance of equities. This capital raise is intended to support the company’s expansion efforts and strengthen its financial foundation to meet increasing market demands.

The company operates six integrated manufacturing facilities with a total installed capacity of 750,000 metric tonnes per annum. This robust infrastructure positions Hi-Tech Pipes well to manage large orders and pursue further growth opportunities.

This dual development—securing a major contract and planning a substantial capital raise—underscores Hi-Tech Pipes' commitment to enhancing its market position and expanding its capabilities in both the renewable energy sector and broader industrial applications.

News by Rahul Yelligetti