HMA Agro Industries IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jun 23, 2023HMA Agro Industries Ltd is an exporter of frozen buffalo meat products. It captures a significant portion of the industry in India. The Company is now preparing to raise funds from the public by means of an Initial Public Offering (IPO).
HMA Agro Industries IPO comprises a Fresh Issue worth Rs. 150 crores along with an Offer for Sale of about Rs. 330 crores, where the promoters will be offering their shareholding portion.
In HMA Agro Industries IPO Review, we will understand the Company’s offerings, its operations, and details of the IPO like IPO date, IPO Size, IPO Price, IPO GMP, its subscription and allotment status, and other matters related to the IPO.
| Face Value | Rs 10 |
| Price Band | Rs 555 to Rs 585 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 25 Shares |
| Listing Date | 4 July 2023 |
| Offer for Sale | Rs.330 Crore |
| Fresh Issue | Rs.150 Crore |
| IPO Size | Rs.480 Crore |
| Tick Size | 1 |
HMA Agro Industries IPO Overview
HMA Agro Industries IPO is of about Rs.480 crores. The Company has filed the Draft Red Herring Prospectus (DRHP) with SEBI to seek approval.
After the approval, the Company will make further preparations towards flooring the IPO in the stock market.
Being the Company’s first public offering, it has no formal listing market, and its shares will be listed on the stock exchange for the first time.
The Company is engaged in diverse businesses and caters to various requirements of customers on a large scale
HMA Agro Industries IPO Important Dates
| Events | Date |
| IPO Opening Date | 20 June 2023 |
| IPO Closing Date | 23 June 2023 |
| Basis of Allotment Finalization | 29 June 2023 |
| Refunds Initiation | 30 June 2023 |
| Credit of Shares to Demat Account | 3 July 2023 |
| Share Listing Date | 4 July 2023 |
The preliminary papers regarding the IPO were filed in March 2022 by HMA Agro Industries. The HMA Agro Industries IPO Dates are not finalized as of now. The Company is awaiting the SEBI Nod to declare the IPO opening and closing dates.
HMA Agro IPO Price, Size, Share Offerings
| Face Value | Rs 10 |
| Price Band | Rs 555 to Rs 585 |
| Offer for Sale | Rs.330 Crore |
| Fresh Issue | Rs.150 Crore |
| IPO Size | Rs.480 Crore |
HMA Agro Industries IPO Size is constituted by the Fresh Issue and Offer for Sale.
HMA Agro Industries IPO Price will be determined by the Company and the selling shareholders in consultation with the Book Running Lead Managers through the Book Building Process.
The issue is a 100% Book Built Issue. The face value of the offered shares is Rs. 10 each. The shares are proposed to be listed on BSE and NSE.
HMA Agro IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 21 Jun 2023 | Rs 25 | NA | NA |
| 20 Jun 2023 | Rs 25 | NA | NA |
| 19 Jun 2023 | Rs 25 | NA | NA |
| 18 Jun 2023 | NA | NA | NA |
Grey Market is a trade market where the shares of the issuer company are bid and offered prior to officially opening the issue. Investors analyze the expected listing price of the issue through Grey market operations.
The traders undertake no legal agreement to trade in the securities in this market. HMA Agro Industries IPO GMP will be available after the Company reveals the IPO dates.
HMA Agro Industries IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 20th Jun | 0.37x | 0.55x | 0.21x | 0.33x |
| 2nd Day – 21st Jun | 0.37x | 1.20x | 0.39x | 0.56x |
| 3rd Day – 22nd Jun | 1.04x | 1.92x | 0.55x | 0.98x |
| 4th Day – 23rd Jun | 1.74x | 2.97x | 0.96x | 1.62x |
| Shares Offered or Net Issue | 1,729,729 | 1,297,298 | 3,027,027 | 6,054,054 |
In the HMA Agro Industries IPO Subscription, the Company will receive applications from prospective shareholders. The investors will invest in the Company through the ASBA process.
The investors are required to bid at or above the floor price and within the price band. The Red Herring prospectus will state the floor price and price band.
HMA Agro Industries IPO Allotment Status
Allotment of shares is one of the most important steps in the IPO. The allotment of shares is done online. Shares are credited to the Demat account of the successful bidders.
An investor willing to invest in the IPO must possess a Demat and Trading Account with a stockbroker. HMA Agro Industries IPO Allotment will take place after the basis of allotment is determined.
HMA Agro Industries IPO Live Performance
Investors can check HMA Agro Industries IPO Performance here. With just a single click, you will be able to stay updated with the HMA Agro Industries IPO Price.
Subscribe to HMA Agro Industries IPO – Open Free Demat Account Now!
HMA Agro Industries – Company Review
The Company has been in operation since 2008. It was incorporated as a public limited company. The name of the Company has not changed, nor has its status.
HMA Agro Industries Limited operates with the aim to furnish products that suit its customers. It is the flagship company of the Group and brings significant business to the Group.
The entity has been in operation for over four decades. They are among the largest raw meat products exporters in India. HMA Agro Industries is a Government of India-recognized export house.
Products or Services
HMA Agro Industries Limited only offers buffalo meat and other allied products. Unlike beef or pork, buffalo meat is not conjoined with religious beliefs. Also, it is popular in various for its low fat and cholesterol characteristics.
The offerings of the Company are largely packaged under its brand name “HMA,” “Black Gold,” and “Kamil.” HMA Agro Industries is a globe exporter and exports its products to over 40 countries.
Promoters and Holding
The Promoters of HMA Agro Industries Limited are:
- Wajid Ahmed
- Gulzar Ahmad
- Mohammad Mehmood Qureshi
- Mohammad Ashraf Qureshi
- Zulfiqar Ahmad Qurashi
The management of the Company consists of:
- Gulzar Ahmad in the position of Chairman and Whole Time Director
- Wajid Ahmed, in the position of Managing Director
- Gulzeb Ahmed in the position of Whole Time Director and Chief Financial Officer
- Amit Goyal, in the position of Independent Director
- Swapnla Gupta, in the position of Independent Director
- Gaurav Luthra, in the position of Independent Director
Is HMA Agro Industries Good for Investment?
The decades-old HMA Agro Industries Limited has contributed to a large extent to raw meat product supplies. The company supplies its products in various countries. The product portfolio of the company is wide and includes Protein for your meal, Offals, Fruits, Pet food, Rendered products and vegetables.
The company is led by driven and experienced personnel who have put years of hard work into driving the success of the company it has conquered today.
The HMA Agro Industries IPO will underpin the operations by fulfilling its capital expenditure requirements. The company will be able to explore varied growth opportunities through the IPO.
HMA Agro Industries Financial Statements
| Amount (in INR & Million) | ||||
| 30-Sept-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Assets | 8,281.46 | 5,720.30 | 4,728.49 | 5,492.65 |
| Revenue | 14,797.69 | 17,203.96 | 24,166.13 | 27,840.29 |
| Expense | 13,947.50 | 16,227.45 | 23,543.97 | 27,351.30 |
| Profit After Tax | 632.09 | 726.13 | 458.97 | 311.65 |
HMA Agro Industries Limited is a dominating player in the domain. Its year-on-year progress in the financial statements is commendable. The Company has posted an impressive growing graph of the revenue and profits in the DRHP.
The Company has made total revenue of 27,840.29 million, 24,166.13 million, and 17,203.96 million in the preceding years 2019, 2020, and 2021.
In terms of profits, the results of the Company’s operation are expanding every year. It clocked a profit of 488.99 million, 622.16 million, and 976.52 million in 2019, 2020, and 2021 respectively.
Even in the six months of the financial year 2021-22 ended September 30, 2021, the Company reported an 850.18 million profit against 14,797.69 million revenue for the period.
The EPS of HMA Agro Industries Limited has also grown in the past years. The Company had an EPS of Rs. 13.15 as of September 30, 2021.
| Earnings per Equity Share (in Million) | ||||
| 30-Sept-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 13.15 | 15.28 | 9.66 | 6.56 |
HMA Agro Industries IPO Review
HMA Agro Industries IPO is a combination of a Fresh Issue and an Offer for Sale. The promoters of the Company are offloading their shares in the issue.
The promoters offering shares are Wajid Ahmed, Gulzar Ahmad, Mohammad Mehmood Qureshi, Mohammad Ashraf Qureshi, Zulfiqar Ahmad Qurashi, and Parvez Alam.
The proceeds of the Offer for Sale will be entitled to the selling shareholders. The Company will receive the proceeds from the Fresh Issue only.
HMA Agro Industries will utilize the funds towards funding the Company’s capital requirement and other general corporate purposes.
The IPO and subsequent listing will enhance the visibility of the entity in the market and help it gain business over time.
HMA Agro IPO Details
Here are a few more details you need to know before investing in HMA Agro Industries IPO –
HMA Agro Industries IPO Issue Object
Thus, HMA Agro Industries has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Funding working capital requirements of our Company
- General Corporate Purpose
HMA Agro IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Production Quality and well established Set up
- Well-educated and experienced team
- Long-standing relations with our customer base and well-established marketing set-up
- Well established brand
- Global Presence
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 15.28 | 27.96 | 54.66 |
| 31-Mar-20 | 9.66 | 24.54 | – |
| Mar-19 | 6.56 | 22.03 | – |
HMA Agro Industries IPO Lead Managers
Here is the list of Lead managers –
- ARYAMAN FINANCIAL SERVICES LIMITED
HMA Agro Industries IPO Registrar to offer
Check out the details of the registrar here –
BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Makwana Road,
Marol, Andheri East, Mumbai – 400 059
Tel: +91 – 22 – 6263 8200;
Email: ipo@bigshareonline.com;
Website: www.bigshareonline.com
Investor Grievance Email: investor@bigshareonline.com;
Contact Person: Babu Raphael
SEBI Registration No.: INR000001385
HMA Agro IPO – Other Details
- Statutory Auditor – M/S. MAPSS AND COMPANY
- Legal Counsel to the Company – M/S. KANGA & COMPANY (ADVOCATES & SOLICITORS)
- Bankers to the Company – HDFC Bank Limited, YES BANK and CANARA BANK
HMA Agro Industries IPO – Conclusion
The HMA Agro Industries IPO is a constructive step for the Company. Along with funding the capital requirements, the Company is going to strengthen its capital base and attain the benefits of listing.
The Company is progressive and has a positive EPS record. Investors can consider investing in the IPO as the Company seems to have the potential to reap good results over time.
To Subscribe to HMA Agro Industries IPO – Open Demat Account Now!
HMA Agro Industries IPO Review FAQs
Check out the FAQs on HMA Agro Industries IPO –
What is the Issue Size of HMA Agro IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of HMA Agro Industries IPO?
The price band for this particular IPO ranges between Rs 555 to Rs 585. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the HMA Agro Industries IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on 20 June 2023, while the closing date is set for 23 June 2023.
What is the HMA Agro IPO Allotment Date?
We also have the news regarding the respective allotment dates of HMA Agro Industries IPO. The basis of Allotment finalization is on 29 June 2023, refund initiation is on 30 June 2023, credit of shares is on 3 July 2023, and share listing date is on 4 July 2023.
What is the HMA Agro IPO Listing Date?
Shares of this company shall be listed in the exchanges on 4 July 2023. The date, when the listing would be done, is stagnant on 4 July 2023.
Who is the Registrar of HMA Agro IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of HMA Agro IPO?
Here are the promoters of this IPO – WAJID AHMED, GULZAR AHMAD, MOHAMMAD MEHMOOD QURESHI, MOHAMMAD ASHRAF QURESHI AND ZULFIQAR AHMAD QURASHI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of HMA Agro Industries IPO?
They have obtained the GMP of this IPO and it is Rs 25. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is HMA Agro IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of HMA Agro Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is 726.13, 2020 is 458.97, and 2019 is 311.65. PAT from Sept 2021 is 632.09.
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