The IPO of HMA Agro Industries is all set to hit the primary market. The subscription will start on June 20 and end on June 23. The issue will open for anchor investor subscription one day prior to retail. The company plans to raise Rs 480 crore from this issue.
The initial share sale comprises a fresh issue of over 25 lakh fresh shares and an offer for sale (OFS) of over 56 lakh equity shares. The fresh issue of equity shares is up to Rs 150 crore and an OFS of Rs 330 crore by its promoters.
The company has fixed a price band of Rs 555 – 585 for the offer at a face value of Rs 10.
The minimum market lot of HMA Agro IPO is 25 shares with an application amount of 14,625. Retail investors can apply for up to 13 lots. The retail quota has been reserved at 35 per cent, QIB at 50 per cent and HNI at 15 per cent.
The objective of the issue is to meet the working capital requirements and general corporate objective.
Frozen meat exporter HMA Agro Industries has filed preliminary documents with market regulator Sebi for an initial share sale of Rs 480 crore in March 2022, according to a PTI report.
The Agra based firm is one of the largest exporters of frozen buffalo meat products from India. Its products are exported to more than 40 countries around the world. More than 90 percent of its sales come from exports.
For the financial year ending March 2021, the company posted a profit after tax of Rs 73 crore, while 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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