HMA Agro Industries IPO subscribed 95% on day 3

22 Jun 2023 , 03:38 PM

HMA Agro IPO has received muted response from the investors as the issue was subscribed only 95% by 3.30 Pm on day 3. 

According to BSE data, investors placed bids for 57,54,850 equity shares, which is approximately 0.95 times the 60,54,054 equity shares offered for subscription by 3:30 pm on Thursday, June 22, 2023.

The retail investor quota received bids that were 0.51 times the allocation, while non-institutional bidders submitted bids that were 1.85 times the allotted portion. The qualified institutional bidders’ segment was subscribed 1.04 times by the same time.

HMA Agro Industries holds a prominent position as one of the largest exporters of buffalo meat in India, contributing to over 10% of the country’s frozen buffalo meat exports. The company’s products, which are self-branded, are packaged under the names ‘Black Gold,’ ‘Kamil,’ and ‘HMA,’ and are exported to more than 40 countries.

HMA Agro operates four fully integrated packaged meat processing plants situated in Aligarh, Mohali, Agra, and Parbhani. Additionally, the company is currently in the process of establishing a fifth fully integrated owned meat product processing unit in Haryana. Alongside these facilities, HMA Agro Industries also owns two secondary level meat processing units located in Jaipur and Manesar, further expanding its operational presence.