The initial public offer (IPO) of HMA Agro Industries has been subscribed 32% on day 1 of the offer. The initial public offering (IPO) for HMA Agro Industries, with a price band of Rs 555-585 per share, is scheduled to close on June 23. The lot size for the HMA Agro Industries IPO is 25 shares.
On day 2 of the offer, the IPO saw response from all categories of investors by 11.30 AM. While retail investors portion was subscribed 28%, non-institutional bidders subscribed to 58% and the qualified institutional buyers’ quota by 37%. Overall, the IPO received bids for 22,45,025 shares against 60,54,054 shares on offer.
The company has allocated 50% of the net offer portion to qualified institutional buyers, 15% to non-institutional investors, and 35% to retail investors.
HMA Agro primarily operates in the buffalo meat and allied products sector, which contributes to 97% of its total revenue from operations. The company’s IPO consists of a fresh issue of ₹150 crore and an offer for sale of Rs 330 crore by its promoters, namely Wajid Ahmed, Gulzar Ahmad, Mohammad Mehmood Qureshi, Mohammad Ashraf Qureshi, Zulfiqar Ahmad Qurashi, and Parvez Alam.
The proceeds from the fresh issue will primarily be utilized to fulfill the company’s working capital requirements.
The initial public offer (IPO) of HMA Agro Industries has been subscribed 32% on day 1 of the offer. The initial public offering (IPO) for HMA Agro Industries, with a price band of Rs 555-585 per share, is scheduled to close on June 23. The lot size for the HMA Agro Industries IPO is 25 shares.
On day 2 of the offer, the IPO saw response from all categories of investors by 11.30 AM. While retail investors portion was subscribed 28%, non-institutional bidders subscribed to 58% and the qualified institutional buyers’ quota by 37%. Overall, the IPO received bids for 22,45,025 shares against 60,54,054 shares on offer.
The company has allocated 50% of the net offer portion to qualified institutional buyers, 15% to non-institutional investors, and 35% to retail investors.
HMA Agro primarily operates in the buffalo meat and allied products sector, which contributes to 97% of its total revenue from operations. The company’s IPO consists of a fresh issue of ₹150 crore and an offer for sale of Rs 330 crore by its promoters, namely Wajid Ahmed, Gulzar Ahmad, Mohammad Mehmood Qureshi, Mohammad Ashraf Qureshi, Zulfiqar Ahmad Qurashi, and Parvez Alam.
The proceeds from the fresh issue will primarily be utilized to fulfill the company’s working capital requirements.
HMA Agro IPO important details:
| Open date | 20 June 2023 |
| Close date | 23 June 2023 |
| Lot size | 25 |
| IPO size (Rs crore) | Rs 480 crore |
| IPO price range (Rs) | Rs 555-Rs 585 per share |
| Minimum investment | Rs 14,625 |
| Basis of allotment date | 29 June 2023 |
| Refunds date | 30 June 2023 |
| Credit to demat account date | 3 July 2023 |
| Listing date | 4 July 2023 |
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