HMA Agro Industries, incorporated on April 9, 2008, is a prominent exporter of frozen buffalo meat products from India. The company holds a significant market share, accounting for more than 10% of India's total export of frozen buffalo meat. Its products, which include the popular brands "Black Gold," "Kamil," and "HMA," are exported to over 40 countries worldwide.
| Bidding Dates |
|---|
| 20 Jun 2023 - 23 Jun 2023 |
| Subscription |
|---|
| 1.62x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,625 | 1 | 13 | 25 | 8.2 M | ₹555 - ₹585 | 83.61 % | ₹4553.8 M - ₹4800.0 M | RHP DOC |
HMA Agro Industries IPO SUBSCRIPTION STATUS
23 Jun '23HMA Agro Industries IPO overall subscription rate was 1.62 times the total available shares
HMA Agro Industries IPO retail subscription rate was 0.96 times in the retail segment
HMA Agro Industries IPO non-institutional investor subscription rate was 2.97 times in the non-institutional investor category
HMA Agro Industries IPO Qualified Institutional Bidder subscription rate was 1.74 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
23 Jun 2023 (Day 4) | 0.96x | 2.97x | 1.74x |
22 Jun 2023 (Day 3) | 0.54x | 1.92x | 1.04x |
21 Jun 2023 (Day 2) | 0.38x | 1.2x | 0.37x |
20 Jun 2023 (Day 1) | 0.2x | 0.55x | 0.37x |
HMA Agro Industries FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY23 | 1,132.4 | 23,704.8 | 1,735.7 | 1,241.3 | 7.0% |
| FY22 | 1,176.2 | 30,831.9 | -319.6 | -1,139.3 | 5.7% |
| FY21 | 716.0 | 17,075.0 | 749.7 | 574.9 | 6.4% |
| FY20 | 459.0 | 23,727.9 | 201.8 | -24.8 | 3.3% |
HMA Agro Industries IPO SUBSCRIPTION STATUS DETAILS
HMA Agro Industries had 8.2 M shares on offer
HMA Agro Industries IPO offer price was in the range ₹555 - ₹585
HMA Agro Industries IPO minimum Investment was ₹14625
HMA Agro Industries IPO issue size was ₹ 4553.8 M - ₹ 4800.0 M
HMA Agro Industries had a minimum lot size of 25 Shares per application
HMA Agro Industries NUMBER OF SHARES ON OFFER
HMA Agro Industries IPO IMPORTANT DATES
| Issue Open Date | 20 Jun 2023 |
| Issue close Date | 23 Jun 2023 |
| Allotment Date | 29 Jun 2023 |
| Refund Date | 30 Jun 2023 |
| Demat Account Credit Date | 03 Jul 2023 |
| Listing Date | 04 Jul 2023 |
| Listing on Exchange(s) | NSE and BSE |
| HMA Agro Industries Allotment Status | Exchange |
HMA Agro Industries IPO subscription opened on 20 Jun 2023, and closed on 23 Jun 2023
IPO allotment for HMA Agro Industries was finalized on Thursday, 29 Jun 2023
IPO listing for HMA Agro Industries was on NSE and BSE on Tuesday, 04 Jul 2023
HMA Agro Industries IPO LISTING GAINS
| Issue Price (adjusted) | 58.5 |
| Listing Open Price | 625.0 |
| Listing Close Price | 585.6 |
| Listing Gain% | 6.8% |
| Current Gain% | -62.0% |
HMA Agro Industries Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HMA Agro Industries Ltd. | 22.2 | 111.3 | 6.8 | 0.1 | 0.2 | 17.5 | 6.8 | 7041.4 | 35 | 164.8 | 89.9 | 3.3 | 89.9 |
| Varun Beverages Ltd. | 442 | 149504.9 | 44.2 | 2.3 | 6.2 | 15.5 | 11.9 | 22037.7 | 9.5 | 3036.5 | 17 | 10 | 18.9 |
| EID Parry (India) Ltd. | 805.1 | 14327.2 | 25.2 | -0.7 | 0.4 | 6.5 | 1.9 | 38883.4 | 21.6 | 569.5 | -35.2 | 32 | -35.2 |
| Avanti Feeds Ltd. | 906.6 | 12351.3 | 20.4 | 1.4 | 2 | 18.4 | 14.2 | 6276.5 | 8.6 | 606.1 | 14.6 | 44.5 | 14.6 |
| Manorama Industries Ltd. | 1636.2 | 10328.1 | 48.1 | 0.2 | 7.6 | 32 | 18.1 | 1377.1 | 73.9 | 214.9 | 95.8 | 34.1 | 204.8 |
| Sanstar Ltd. | 113.4 | 2066.8 | 60 | -2.8 | 2.6 | 5 | 4.3 | 796.4 | -18 | 34.4 | -21.3 | 1.9 | -21.3 |
HMA Agro Industries INFORMATION ON IPO ISSUE
About HMA Agro Industries
HMA Agro Industries, incorporated on April 9, 2008, is a prominent exporter of frozen buffalo meat products from India. The company holds a significant market share, accounting for more than 10% of India's total export of frozen buffalo meat. Its products, which include the popular brands "Black Gold," "Kamil," and "HMA," are exported to over 40 countries worldwide.
Object of the Issue
- Funding working capital requirements of the company
- General Corporate Purpose
HMA Agro Industries - PROMOTERS
| Name |
|---|
| Wajid Ahmed |
| Gulzar Ahmad |
| Mohammad Mehmood Qureshi |
| Mohammad Ashraf Qureshi |
| Zulfiqar Ahmad Qurashi |
HMA Agro Industries Book Running Lead Manager
Aryaman Financial Services Limited
ipo@afsl.co.in
HMA Agro Industries Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
HMA Agro Industries Strengths
Long standing relations with customer base
The company has a diverse customer base spanning across various geographic regions around the world. It prides itself on its high production quality and a well-established setup
Well-established brand
The company is a prominent player in the Indian meat export industry and ranks among the top three meat exporter companies. It successfully exports its products under the renowned brands "Black Gold," "Kamil," and "HMA" to over 40 countries worldwide
Global presence
The company serves both domestic and international markets. In the six-month period ending September 30, 2021, the company's total exports amounted to Rs 1,251.53 crore
HMA Agro Industries Risks
Certain legal proceedings
The promoter/director, subsidiaries, and group companies are involved in ongoing legal proceedings. Any unfavourable outcome in these proceedings could significantly impact the business
Highly regulated and sensitive business
The company operates in a highly regulated industry that is sensitive to environmental and religious considerations. Failure to effectively manage statutory requirements and ensure the operational efficiency of its processing units may have an impact on the business
Unsecured loan
The company has obtained an unsecured loan of Rs 88.15 million on a consolidated basis, which is repayable upon demand. Any request from the lenders for repayment of this unsecured loan could impact the cash flow and financial condition of the company
No long-term agreements with suppliers
The company lacks long-term agreements with suppliers for raw materials, particularly livestock, which could result in increased costs or a shortage in the availability of such raw materials
IPO FAQs
HMA Agro Industries Ltd. IPO listing opened at Rs 625.00 while the issue price was Rs 585.00 giving 6.84% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 58.50 giving -62.00% gains since its IPO listing.
This IPO consists of an offer for sale of up to Rs 330.0 crore, of 5,641,026 shares. It also consists of a fresh issue of Rs 150.0 crore.
The promoters of the company are Wajid Ahmed, Gulzar Ahmad, Mohammad Mehmood Qureshi, Mohammad Ashraf Qureshi and Zulfiqar Ahmad Qurashi.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 555.0 - 585.0.
The IPO application opens on Jun 20, 2023 and closes on Jun 23, 2023.
The minimum lot size for the IPO is 25. The maximum lot size for the IPO is 325.
For all category investors, the minimum application amount for this IPO is Rs. 14,625.0, the maximum value for this IPO is Rs 190,125.0.
This IPO will be allotted on Jun 29, 2023.
The refund will be credited to your account on Jun 30, 2023.
The allotted shares will be credited to your demat on Jul 03, 2023.
HMA Agro Industries Ltd.’s shares listed on the stock exchanges on Jul 04, 2023.