HMA Agro IPO receives 54% bids so far on day 2 of offer

21 Jun 2023 , 04:18 PM

The Rs 480 crore initial public offer of HMA Agro Industries Limited was subscribed 57% on day 2 by 4.15 PM. The public issue that opened for subscription on Tuesday, June 20, will close on Friday, June 23. Click here to subscribe the IPO.

On Day 2 of the subscription, the issue saw positive response from Non Institutional Investors (NIIS) who subscribed to the issue 1.18 times, followed by Qualified institutional buyers’ (QIBs) portion subscribed 0.37 times, retail investors who subscribed to the issue 0.37 times.

HMA Agro Industries Ltd. (HAIL) is a Government of India-recognized three-star export house. As the flagship company of the HMA group with a rich legacy of over four decades in the meat industry, HAIL holds a prominent position as one of the largest exporters of frozen buffalo meat products from India. It contributes significantly, accounting for more than 10% of India’s total export of frozen buffalo meat.