HOAC Foods IPO Day 2: Issue subscribed over 126 times so far; Check GMP, other key details of SME IPO
- HOAC Foods IPO price band is ₹48 per share. The IPO is a fixed price issue worth ₹5.54 crore and entirely a fresh issue of 11.55 lakh equity shares.
HOAC Foods IPO: The initial public offering (IPO) of food products manufacturer Hariom Atta & Spices Ltd has been receiving strong demand from investors.
Hariom Atta & Spices IPO or HOAC Foods IPO is an SME IPO that opened for subscription on Thursday, May 16.
Let us check HOAC Foods GMP today, subscription status and other key details.
HOAC Foods IPO Subscription Status
HOAC Foods IPO has been heavily oversubscribed as it is receiving strong demand from retail investors. HOAC Foods IPO subscription status shows that the IPO has been subscribed 126.76 times in total so far on Friday, May 17, the second day of the bidding process. The issue received bids for 13.46 crore equity shares as against 10.62 lakh shares on the offer, as per data available till 1:35 pm.
The public issue has been subscribed 210.93 times in the retail category, and 42.53 times in the Non-Institutional Investors (NII) category so far.
HOAC Foods IPO GMP Today
Hariom Atta & Spices IPO is commanding a strong premium in the grey market today. HOAC Foods IPO GMP today, or grey market premium today, has increased to ₹100 per share, as per stock market observers. This indicates that the equity shares of HOAC Foods are trading higher by ₹100 than their issue price in the grey market.
HOAC Foods IPO GMP indicates that HOAC Foods shares are trading at ₹148 apiece in the grey market, a premium of 208.33% to the issue price of 48 per share.
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HOAC Foods IPO Details
The bidding for HOAC Foods IPO opened on May 16 and will close on May 21. The SME IPO of Hariom Atta & Spices Ltd is a fixed price issue worth ₹5.54 crore and entirely a fresh issue of 11.55 lakh equity shares.
HOAC Foods IPO price band is ₹48 per share. The IPO lot size is 3,000 shares and the minimum investment amount required by retail investors is ₹144,000.
Hariom Atta & Spices IPO allotment is expected to be finalized on Wednesday, May 22, and the equity shares of the company will be listed on NSE SME with a tentative listing date fixed on May 24.
The company proposes to utilize the net issue proceeds towards funding the working capital requirements and general corporate purposes.
GYR Capital Advisors Pvt Ltd is the book running lead manager of the HOAC Foods IPO, while Kfin Technologies is the IPO registrar.
HOAC Foods India is a manufacturer of flour, spice, and other food products. As of December 2023, the company had 10 Exclusive Brand Outlets consisting of 4 owned by the company and 6 owned by franchisees. Its manufacturing facility is situated in Gurugram.
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