HMA Agro IPO opens: GMP, price, subscription status. Apply or not?

HMA Agro Industries Ltd IPO (initial public offering) is going to open today and the public issue will remain open till 23rd June 2023. The company has fixed HMA Agro Industries Ltd IPO price band at ₹555 to ₹585 apiece and the company aims to raise ₹480 crore from is book build offer. Out of these 480 crores, ₹330 crore has been reserved for OFS route, which means only 150 crore will go into the balance sheet of the company. According to market observers, shares of HMA Agro Industries Ltd are available for trade in grey market today at a premium of ₹28.

Here we list out important HMA Agro Industries IPO details below:

1] HMA Agro Industries IPO GMP today: According to market observers HMA Agro Industries IPO grey market premium ((GMP) today is ₹28, which is ₹3 higher from its Monday GMP of ₹25.

2] HMA Agro Industries IPO price: The public issue is offered at a price band of ₹555 to ₹585 per equity share.

3] HMA Agro Industries IPO subscription status: The public issue has opened today and it will remain open for bidding till 23rd June 2023.

As per the HMA Agro Industries Ltd IPO subscription status, by 02:57 PM on day one of bidding, the public issue has been subscribed 0.14 times whereas its retail portion has been subscribed 0.16 times.

4] HMA Agro Industries IPO size: Company aims to raise ₹480 crore from this public offer.

5] HMA Agro Industries IPO lot size: A bidder will be able to apply in lots and one lot would comprise 25 shares of the company.

6] HMA Agro Industries IPO investment limit: As investors would be apply in lots and one lot comprises 25 company shares, one would require minimum ₹14,625 ( ₹585 x 25) to apply for the IPO.

7] HMA Agro Industries IPO allotment date: Share allocation is most likely on 29th June 2023.

8] HMA Agro Industries IPO listing date: The public issue is proposed for listing on BSE and NSE and likely date for share listing is 4th July 2023.

9] HMA Agro Industries IPO registrar: Bigshare Services Pvt Ltd has been appointed as official registrar of the IPO.

10] HMA Agro Industries IPO review: On whether one should apply for the IPO or not, Ravi Singh, Vice President and Head of Research at ShareIndia Securities said, "The annual earnings of HMA Agro Industries have shown robust growth year over year. It’s exports have also risen amidst the control of many regulatory bodies including APEDA. The IPO seems to be reasonably priced, hence cash surplus investors may subscribe to this IPO from medium-term perspective."

Ravi Singhal, CEO at GCL Broking said, "If we look at the stock over the previous four years, we can see that it has been consistently growing, with the exception of the COVID period. PAT is also doing well. On the other hand, debt continues to climb. There are several legal proceedings pending against the promoters, and the books also include contingent liabilities that may escalate. As a result, IPO should be avoided in terms of corporate governance."

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.