HMA Agro's IPO will be listed in the stock market today, how will the listing be; Faded response was received from investors
HMA Agro IPO: There was no enthusiasm among investors regarding HMA IPO. Its IPO was subscribed 1.62 times. The quota prescribed for retail investors was also not fully subscribed. The company's IPO had a price band of Rs 555 to Rs 585 per share. It can be listed around this price.
The listing of the IPO of HMA Agro Industries is likely to happen on Tuesday, July 4. This will be the first IPO to be listed on the stock market in July. This IPO was open to the general public from June 20 to June 23.
The IPO was subscribed around 1.62 times. The IPO has received support from institutional and non-institutional investors only. The prescribed cut-off for retail investors was not met in full. It was subscribed to only 96 percent. The quota prescribed for Qualified Institutional Buyers (QIBs) and High Networth Individuals was subscribed 1.74 times and 2.97 times, respectively.
There was no enthusiasm in the market regarding HMA Agro IPO. Its effect can also be seen in the listing of shares. If we look at the experiences of listing previous IPOs, the IPOs did not get a good response from the investors. They are listed with the price band or discount of the IPO. Its price band was Rs 555 to Rs 585 per share.
HMA Agro is the largest exporter of frozen buffalo meat in the country. HMA Agro accounts for 10 percent of the total frozen buffalo meat exported from India. The company exports its products to around 40 countries in the world. The company has plants in Haryana, Unnao, Jaipur, and Manesar.
95 percent of the company's income comes from the sale of frozen buffalo products. After this, the remaining 2 percent comes from frozen fish and basmati rice. The company had a debt of Rs 340 crore in the financial year. The company's profit in the financial year 2021-22 was 117.60 crores.
