HMA Agro Industries raises Rs 144 crore ahead IPO through anchor book

20 Jun 2023 , 10:03 AM

The initial public offer of HMA Agro Industries is opening for subscription today on June 20 and the company has secured Rs 144 crore from various anchor investors on June 19^th.

The company in its exchange filing has said that it has finalised the allocation of 24.61 lakh shares to anchor investors, at a price of Rs 585 per share, the upper end of price band.

Craft Emerging Market Fund PCC, Minerva Ventures Fund, Forbes EMF, Coeus Capital Opportunities Fund, Radiant Global Fund and Absolute Returns Scheme have participated in the anchor book investment of HMA Agro Industries.

The company had reserved a total of 35% of the quota is reserved for retail investors, 15% for high net worth individuals and the rest for qualified investors buyers. Investors can make a bid of a minimum of 25 equity shares and their multiples thereof.

In addition to raising Rs 150 crore through a fresh issue, the exporter of processed frozen buffalo meat is planning to raise up to Rs 330 crore through an offer for sale (OFS) in the price range of Rs 555-585. The subscription for the issue will conclude on Friday, June 23rd.