On Day 4 of the subscription, the issue received overall a positive response from Non Institutional Investors (NIIS) who subscribed to the issue 2.46 times, followed by Qualified institutional buyers’ (QIBs) portion subscribed 1.25 times, retail investors who subscribed to the issue 72% .
The company has received bids for 75,43,125 shares against 60,54,054 shares on offer, at 13:45 IST, according to data from the BSE.
The retail investors’ portion received bids for 21,75,525 shares against 30,27,027 shares on offer for this segment.
The non-institutional investors’ portion received bids for 31,94,000 shares against 12,97,298 on offer for this segment.
The QIBs portion received bids for 21,55,225 shares against 17,29,729 on offer for this segment.
The employees’ portions did not receive any subscription.
HMA Agro IPO: Issue subscribed 98% on Day 3; check details
The company has fixed the price band at ₹555 to ₹585 per equity share for the proposed initial public offer.
On Monday, June 19, the company raised ₹144 crore by allocating 24,61,537 shares to anchor investors.
A number of investors, including Craft Emerging Market Fund PCC, Minerva Ventures Fund, Forbes EMF, Coeus Capital Opportunities Fund, Radiant Global Fund, and Absolute Returns Scheme, took part in the anchor book.
The largest investor among them is Craft Emerging Market Fund PCC, which has invested ₹70 crore through Citadel Capital Fund and Elite Capital Fund in HMA Agro.
The minimum bid is 25 equity shares, and all subsequent bids must be made in multiples of 25 shares. Qualified institutional buyers (QIBs) will receive close to 50% of the offer, followed by non-institutional investors (15%) and retail investors (35%).
The exporter of frozen buffalo meat intends to collect ₹480 crore through a public offering that consists of promoters’ offers to sell shares worth ₹330 crore and fresh issuance worth ₹150 crore.
HMA Agro IPO: Over half of the issue subscribed on Day 2; check details
The promoters who are taking part in the offer for sale are Parvez Alam, Zulfiqar Ahmad Qurashi, Mohammad Ashraf Qureshi, Wajid Ahmed, and Gulzar Ahmad.
In addition to general corporate purposes, the business will use the net proceeds from the public offering primarily for its working capital needs ( ₹135 crore). However, it won’t get any money from the sale’s offer. The selling shareholders will receive all of the offer’s proceeds.
HMA Agro IPO: Issue subscribed 32% on Day 1; check details
Bigshare Service is the Registrar issue, and Aryaman Financial Services is the sole Book Running Lead Manager.
The share allocation will likely be completed on Thursday, June 29, and the shares will list on the BSE and NSE on Tuesday, July 4.
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Updated: 23 Jun 2023, 01:52 PM IST