HMA Agro offer subscribed 32% on Day 1 - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The initial share sale of HMA Agro Industries, which ends on June 23, has received a lackluster response from investors, with the offer subscribed only 39%. The retail investors portion was subscribed 31%, non-institutional investors portion 59% and QIB portion 37%. Additionally, the grey market premium has declined to Rs 23. The IPO, which comprises an OFS of Rs 330 crore and a fresh issue of equity shares of up to Rs 150 crore, has a price band of Rs 555-585 per equity share. Aryaman Financial Services is the book-running lead manager to the issue and Bigshare Services is the registrar.
The Rs 480 crore IPO of HMA Agro consists of fresh issues of up to 150 crore, while an offer-for-sale (OFS) of up to 330 crore by promoters and existing shareholders.
Indian exports giant HMA Agro Industries has begun its initial public offering (IPO) process, as retail investors have until 23 June to bid for shares between the price range of Rs555 ($7.48) and Rs585 ($7.89). The IPO will raise Rs480 crore ($65m). The company s shares were trading at a premium of Rs28 in the unlisted market before the IPO began. The firm is also offering existing shareholders shares for sale for Rs330 crore. HMA Agro Industries is one of the largest exporters of frozen buffalo meat in India, with customers in over 40 countries.