Hi-Tech Pipes is a smallcap company, engaged in the metal sector. Its shares have delivered a multibagger return of 130 per cent in just 1 year. The company has just raised over Rs 500 crore through QIP.

BofA Securities, Motilal Oswal, Bank of India, Bandhan Mutual Fund, JM Financial Mutual Fund, LIC MF were among those who were issued shares in the QIP.

According to the company, the growth is primarily driven by a surge in demand across key sectors, including infrastructure, water transportation, and solar energy.

Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the company stands at Rs 20,31,07,734 consisting of 20,31,07,734 Equity Shares of Rs 1 each.

SpiceJet share price extended its rally in October 10 trade after the stock gained nearly 5 percent as the company informed the shareholders on adding first new station after raising Rs 3,000 cr via Qualified Institutional Placement (QIP).