HMA Agro Industries will be listed on the stock exchanges with a mild premium of 6-7%. The grey market premium for the company s shares saw a sharp jump to Rs 40 apiece. The initial share sale was fully subscribed, with strong interest from institutional investors. Retail investors showed muted interest, with a subscription rate of just 96%. The company plans to use the proceeds for working capital requirements and general corporate purposes. However, it is important to note that the company heavily relies on export business, which contributed to around 90.2% of its revenue in FY22.