Hi-Tech Pipes Appoints Hrithik Roshan As Its Brand Ambassador After Raising Rs 500 Cr Via QIP

Following the announcement of the world-renowned celebrity Hrithik Roshan as its brand ambassador, Hi-Tech Pipes Ltd., a prominent producer of premium-quality steel pipes, saw a positive price level on Monday at Rs 169.65. Hrithik will work to promote the brand using a variety of media platforms, such as print, electronic, radio, digital marketing, and outdoor advertising.

"We are delighted to welcome Hrithik Roshan to the Hi-Tech Pipes family," said Ajay Kumar Bansal, Chairman & Managing Director of Hi-Tech Pipes Ltd.

"His immense popularity and positive influence align seamlessly with our commitment to delivering superior products and services. We believe this collaboration will strengthen our connection with consumers and drive growth," he further added.

Anish Bansal, Whole-time Director at Hi-Tech Pipes Ltd said, "As we grow from a steel pipe manufacturer into a globally recognized steel tubes and pipes brand, Hrithik Roshan's dynamic presence and professionalism make him the perfect choice to represent our brand. His dedication to excellence resonates with our values, supporting our journey to establish a powerful global presence and set new industry standards."

"I am thrilled to be associated with Hi-Tech Pipes Ltd. and look forward to working together to promote the importance of quality infrastructure," said Hrithik Roshan.

This collaboration is a major turning point for Hi-Tech Pipes Ltd. as it keeps growing and reaffirms its standing as a reliable and popular option for customers worldwide.

Last month, the steel pipe manufacturer Hi-Tech Pipes raised more than Rs 500 crore through the Qualified Institutional Placement (QIP) method. According to the company's exchange filing, the QIP started on October 7 after market hours and ended on October 11. Prominent domestic institutions such as Motilal Oswal Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, JM Financial Mutual Fund, LIC Mutual Fund, WhiteOak Mutual Fund, and SBI General Insurance submitted bids totalling more than Rs 800 crore for the QIP, which was overrun by prominent institutional investors. Prominent international organisations also took part in the QIP. Under the QIP, the organisation issued 26,996,734 new equity shares at a price of Rs 185.50 each.

With an established market share in steel pipes, hollow sections, tubes, cold rolled coils & strips, road crash barriers, solar mounting structures, GP/GC Sheets, Colour Coated Coils, and a variety of other galvanised products, this top steel processing company in India has been producing innovative, high-quality products for almost 40 years. With a consolidated installed capacity of 7,50,000 MTPA, the company operates six (6) cutting-edge integrated manufacturing facilities in Sikandrabad (UP), Sanand (Gujarat), Hindupur (AP), which is close to Bangalore, and Khopoli (Maharashtra). It is also on track towards reaching a capacity of 1 million tonnes in FY25. With more than 450 dealers and distributors throughout India, the company maintains a direct marketing presence in more than 20 states.