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HMA Agro Industries IPO: The initial public offering (IPO) of HMA Agro Industries will open for subscription on Tuesday (June 20). The three-day subscription window will conclude on June 23.
The company has fixed a price band of Rs 555-585 for its Rs 480 crore the public offer. The face value of each share is Rs 10.
The frozen meat exporter company’s share sale offer comprises a fresh issue of more than 25 lakh fresh shares. It has an Offer for Sale (OFS) component of over 56 lakh shares.
While the company will raise Rs 150 crore from the fresh issue, the OFS comprises of Rs 330 crore by its promoters.
Each lot of HMA Agro IPO has 25 shares. It will cost Rs 14,625. A retail investors can bid for a minimum of 1 lot and a maximum of 13 lots.
While the company has reserved 35 per cent of offer for retail investors, 50 per cent has been reserved for qualified institutional buyer (QIBs). The remaining 15 per cent has been reserved for high net worth individuals (HNIs).
Frozen meat exporter HMA Agro Industries had in March 2022 filed preliminary papers with markets regulator Sebi for an initial share sale worth Rs 480 crore, according to a PTI report. The company said that it will use the proceeds from the issue to meet the working capital requirements and general corporate purpose.
HMA Agro Industries is a leading export house and is one of the largest exporters of buffalo meat in India accounting for more than 10 per cent of the country’s export. Its products are sold in more than 40 countries.
For the financial year ended March 2021, the company posted a profit after tax of Rs 73 crore while the total income from operations stood at Rs 1,720 crore. Aryaman Financial Services is the book-running lead manager for the IPO while Bigshare Services is the registrar.
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