HMA Agro Industries’ initial public offering (IPO) received strong demand on its debut, with a subscription of 19%. The IPO, which was open for subscription from June 20 to 23, successfully raised Rs 480 crore.
The subscription for the IPO was as follows: retail investors subscribed 2.98 times, qualified institutional buyers (QIBs) subscribed 2.3 times, and non-institutional investors (NIIs) subscribed 0.94 times.
Priced in the range of Rs 555-585 per share, the shares of HMA Agro Industries were listed on the BSE and NSE on June 24. The opening price was Rs 585, representing a 5% premium over the issue price. And the closing price stood at Rs 590, reflecting a 6.3% premium.
HMA Agro Industries is a food trade organization specializing in processed food and agro products. The IPO comprised a fresh issue of up to ₹150 Crores and an offer for sale (OFS) component of 56.41 lakh equity shares worth Rs 330 Crores.
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Investors warmly received the company’s IPO, recognizing it as an opportunity to invest in a growing food trade company. The substantial demand for the IPO demonstrates investors’ confidence in the company’s future prospects.
