HMA Agro IPO sails through on the final day; retail portion undersubscribed

23 Jun 2023 , 12:01 PM

The 4 days long Rs 480 crore has been fully subscribed on the closing day, June 23. The issue was subscribed 1.08 times by 11.53 AM receiving bids for 65,14,100 shares out of 60,54,054 equity shares available for subscription. Click here to subscribe the IPO.

According to the information available on the BSE website, the public issue has been subscribed 1.04 times overall. The retail portion of the issue has been subscribed 0.46 times. The Qualified Institutional Buyer (QIB) quota of the initial offer has been subscribed 1.10 times, while the Non-Institutional Investor (NII) quota has been subscribed 2.15 times after three days of bidding.

The IPO consist fresh issue of equity shares of worth Rs 150 crore and an offer for sale of Rs 330 crores by selling shareholders. The company also mobilised Rs 144 crore from anchor investors on June 19 ahead of the initial share sale.

The company will finalize the allotment of IPO shares on June 29. Refunds for unsuccessful participants will be credited to their bank accounts by June 30. Equity shares will be transferred to the demat accounts of eligible investors by July 3.

HMA Agro is scheduled to make its debut on both the BSE and NSE on July 4, 2023.