Frozen meat exporter HMA Agro Industries IPO subscribed 55% on Day 2

The initial public offering (IPO) for frozen meat exporter HMA Agro Industries was 55 percent subscribed on the second day of IPOs on Wednesday.

The Rs 480 crore IPO has received bids for 33,56,750 shares for the 60,54,054 shares offered, according to NSE data.

The share of non-institutional investors was 1.20 times oversubscribed, while individual investors (RIIs) got 38 percent and qualified institutional buyers (QIBs) 37 percent.

The initial public offering has a fresh issue of Rs 150 crore and a sell offer of Rs 330 crore. The offer price range is Rs 555-585 per share.

Aryaman Financial Services is the offering manager.

The Company proposes to use the net proceeds of the new issue to finance working capital requirements and other general corporate purposes.

The company’s shares will be listed on both the BSE and the NSE.

(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)

First published: June 21, 2023 | 11:04 p.m ist