Hariom Pipe subsidiary commissions 5 MW solar project in Maharashtra

hariom pipe industries announced that its subsidiary, Hariom Power and Energy Private Limited, has successfully commissioned a 5 MW AC (6 MW DC) Solar PV Power Project at Rupur Tanda, Aunda Nagnath Taluka, Hingoli District, Maharashtra. The facility has commenced power generation and is exporting electricity to the Maharashtra State Electricity Distribution Company Limited (MSEDCL) grid. This development supports the group's commitment to renewable energy and sustainable growth.

The company has submitted an application to the Superintending Engineer (O&M), MSEDCL, for the issuance of the Project Commissioning Certificate. Following this, the subsidiary will submit the declaration of the Commercial Operation Date (COD). Both the certificate and the declaration are currently awaited from MSEDCL.

Project Details

The solar power project represents a significant expansion in the group's renewable energy portfolio. The table below outlines the key specifications of the commissioned facility:

Specification	Details
Project Capacity	5 MW AC (6 MW DC)
Location	Rupur Tanda, Aunda Nagnath Taluka, Hingoli District, Maharashtra
Power Offtake	Maharashtra State Electricity Distribution Company Limited (MSEDCL)
Status	Commissioned and exporting power

Next Steps

Hariom Pipe Industries stated that it will inform the stock exchanges immediately upon receipt of the Project Commissioning Certificate and the declaration of the Commercial Operation Date from MSEDCL.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.84%	+1.77%	-6.67%	-3.02%	-11.28%	+73.35%

Hariom Pipe Industries shareholders approved the preferential allotment of 15,00,000 warrants to promoters at a revised price of ₹343.03 per share during the Extra-Ordinary General Meeting (EGM) held on June 16, 2026. The meeting, conducted via Video Conferencing, also sanctioned alterations to the Articles of Association and approved the conversion of debt into equity in the event of a default. The revised issue price, which includes a premium of ₹333.03, increases the aggregate consideration to ₹51,45,45,000.

The EGM notice was originally issued on May 21, 2026, and subsequently updated via a Corrigendum cum Addendum on June 09, 2026, following observations from the National Stock Exchange of India Limited and BSE Limited. The remote e-voting process commenced on June 13, 2026, and concluded on June 15, 2026, with 55 members participating in the proceedings. Mr. Vinod Sakaram of M/s. VSSK & Associates served as the Scrutinizer for the voting process.

Resolutions Passed

The Board transacted three special business items during the meeting. The resolutions were deemed passed on June 16, 2026, subject to the requisite majority.

S. No.	Details of Resolutions	Type of Resolution
1.	Issue of warrants convertible into equity shares to promoter category on preferential basis.	Special
2.	Alteration of Articles of Association of the Company.	Special
3.	Conversion of debt into equity or other capital in case of event of default by the Company.	Special

Financial Details of the Issue

The preferential issue structure requires 25% of the consideration to be paid at allotment, with the remaining 75% due upon conversion of warrants into equity shares. The pricing was determined based on a valuation report from a Registered Valuer in compliance with SEBI ICDR Regulations.

Component	Amount
Aggregate Consideration	₹51,45,45,000
Payable at Allotment (25%)	₹12,86,36,250
Payable at Conversion (75%)	₹38,59,08,750
Issue Price per Warrant	₹343.03
Premium per Warrant	₹333.03

Key attendees included Mr. Pramod Kapoor Kumar, Chairman of the Board, and Mr. Rupesh Kumar Gupta, Managing Director. Statutory auditors M/s. R. Kabra & Co., LLP and representatives from M/s. VSSK & Associates were present via video conference. The meeting concluded with the management responding to member queries regarding the company's growth trajectory and the proposed resolutions.