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 end on June 23.
The company has fixed a price band of Rs 555-585 for its public offer of Rs 480 crore. The face value of each share is Rs 10.
The offer for sale of shares of the frozen meat exporter company includes a fresh issue of over 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 includes Rs 330 crore raised by its promoters.
Each lot of HMA Agro IPO has 25 shares. Its price will be Rs 14,625. A retail investor can bid for a minimum of 1 lot and a maximum of 13 lots.
While the company has reserved 35 per cent of the offer for retail investors, 50 per cent has been reserved for qualified institutional buyers (QIBs). The remaining 15 per cent has been reserved for High Net Worth Individuals (HNIs).
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 company said it will use the proceeds from the issue to meet working capital requirements and general corporate objectives.
HMA Agro Industries is a leading export house and one of the largest exporters of buffalo meat in India, accounting for more than 10 percent of the country’s exports. Its products are sold in more than 40 countries.
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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