NSE SME stock hits upper circuit after closure of ₹10 crore QIP

HOAC Foods India share price has been locked in 2% upper circuit on Friday's session after the NSE SME stock has raised ₹10 crore via its first-ever Qualified Institutional Placement (QIP). HOAC Foods India share price today opened at ₹266.95 apiece on the NSE.

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, this is a low-volume counter that has consistently hit upper circuits throughout the week, recording a weekly gain of around 18%. Due to the sharp and one-sided movement with low volumes, a meaningful technical view on such counters is not feasible.

The QIP, which commenced on June 30, 2025, and concluded on July 03, 2025, attracted considerable interest from investors, highlighting robust confidence in the company's strategic direction and market standing. HOAC Foods India provided 4,97,250 equity shares, each with a nominal value of ₹10, to Qualified Institutional Buyers (QIBs) at an offering price of ₹201 per share.

This pricing indicates a discount of roughly 5.00% relative to the QIP floor price of ₹210.64 per share, as set by SEBI regulations. The QIP achieved full subscription, demonstrating the strong demand and investor trust in HOAC Foods India.

The investors involved in this QIP consist of Nine Alps Opportunity Fund, Holani Venture Capital Fund, Mili Capital Investment Trust, Paradise Moon Investment Fund I, Moneywise Financialservices Private Limited, Swyom India Alpha Fund, Chanakya Opportunities Fund 1, Beacon Stone Capital VCC - Beacon Stone I, and Saint Capital Fund.

"The overwhelming response to our QIP from investors is a testament to their trust in HOAC Foods India Limited vision and strategy. The successful completion of this QIP, marks a pivotal moment in our journey. The raised capital will fortify our working capital requirements and ensure to maintain robust growth momentum," said Rambabu Thakur, Managing Director of the company.

Company Details

Hoac Foods specializes in producing flour (chakki atta), herbs and spices, unpolished pulses, grains, and yellow mustard oil under the "HARIOM" brand. The company carefully selects raw materials from various regions across the country and processes them with great attention, avoiding artificial preservatives or chemicals, which results in a range of organic spices and flour that retain the freshness and benefits of each ingredient.

The company operates from its manufacturing site located in Village Bhondsi, Gurugram. Since it was founded, the goal has been to create high-quality natural spices and food items free from artificial preservatives or synthetic ingredients.

To accomplish this, the company established a distinctive business model that allows it to manufacture and package products in amounts that meet customer needs until the product's shelf life expires, thereby minimizing waste and offering a wide selection of fresh and beneficial products.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.