HMA Agro Industries IPO
Here comes another IPO, with a price band of ₹555-₹595. It will open on 20th June.
HMA Agro Industries has announced raising funds through the primary market. The company's IPO will open on 20th June. The price band for the IPO is ₹555 to ₹595 per share.
On one hand, the Reserve Bank has put a brake on the increase in repo rates, and on the other hand, one after another, many companies are knocking on the door of the stock market through IPOs.
HMA Agro Industries has announced raising funds through the primary market. The IPO of the company will open on 20th June. The price band for HMA Agro Industries IPO is ₹555 - ₹595 per share.
HMA Agro Industries IPO will open for anchor investors on the 19th. Meanwhile, retail investors will be able to apply for the company's shares from 20th June to 23rd June, and size of ₹480 crores.
It includes ₹150 crore of fresh shares and shares worth ₹430 crore from the sale of existing holdings. Let me tell you, the company will be listed on both the BSE and NSE exchanges.
Promoters who will reduce their stake through the IPO include Wajid Ahmad, Gulzar Ahmad, Mohammad Mehbood Quraishi, & Parvez Alam. Aryaman Financial Services has been appointed as the lead manager.
The company exports buffalo meat from India. HMA Agro Industries has a 10% control over the entire business in this sector. It is one of the leading companies in its sector.
It should be noted that HMA Agro Industries has stated in the papers deposited with SEBI that the funds raised through the IPO will be utilized for corporate purposes.