HMA Agro Industries Ltd IPO: GMP, subscription status on last date of bidding. Apply or not?


HMA Agro Industries Ltd IPO: The initial public offer of HMA Agro Industries Ltd opened for subscription on 20th June 2023. Subscription for the public issue worth ₹480 crore will end on 23rd June 2032 i.e. today. Hence, investors have just one day in hand to apply for the public issue. According to market observers, grey market is expecting positive listing of HMA Agro Industries shares as it is trading at a premium of ₹24 in grey market today. After three days of bidding, HMA Agro Industries Ltd IPO has been subscribed 1.03 times whereas its retail quota got subscribed 0.56 times.

HMA Agro IPO GMP today

According to market observers, HMA Agro Industries Ltd IPO grey market premium (GMP) today is ₹24, which is Re 1 lower from HMA Agro Industries Ltd IPO GMP of ₹25 on Thursday. Market observers said that tepied secondary market sentiments and weak global market sentimens could be the possible reasons for slip in HMA Agro Industries Ltd IPO GMP today. They said that investors response is expected to improve on last date of bidding as investors who were in wait and watch mood are expected to participate in the HMA Agro Industries Ltd IPO bidding.

Market observers went on to add that HMA Agro Industries Ltd IPO GMP today is ₹24, which means grey market is expecting that HMA Agro Industries Ltd IPO listing price would be around ₹610 ( ₹585 + ₹25), which means grey market is reflecting that the public issue would have a positive listing on HMA Agro Industries Ltd IPO listing date, which is expected on 4th July 2023.

HMA Agro Industries Ltd IPO subscription status

As per the information available on BSE website, the public issue has been subscribed 1.03 times while its retail portion has been subscribed 0.56 times. The QIB quota of the initial offer has been subscribed 1.10 times whereas NII quota has been subscribed 2.03 times after three days of bidding.

HMA Agro Industries Ltd IPO: Apply or not?

Speaking on the public issue, Ravi Singhal, CEO at GCL Broking said, “If we look at the stock over the previous four years, we can see that it has been consistently growing, with the exception of the COVID period. Pat is also doing well.”

Giving buy tag for medium to long term, Ravi Singh, Vice President and Head of Research at ShareIndia Securities said, “The annual earnings of HMA Agro Industries have shown robust growth year over year. It’s exports have also risen amidst the control of many regulatory bodies including APEDA. The IPO seems to be reasonably priced, hence cash surplus investors may subscribe to this IPO from medium-term perspective.”

HAIL (including its subsidiaries) owns five fully integrated packaged meat processing plants which are located at Aligarh, Mohali, Agra, Haryana and Parbhani. It is also in the advanced stages to acquire an additional plant at Unnao and is expected to be completed this acquisition by Q2 of FY 2023-24. These would make HAIL’s total in-house meat product processing capacities more than 4,00,000 metric tons per annum spread over six different owned plants by FY 2023-24. Further, it also owns two additional secondary-level meat processing units at Jaipur and Manesar.


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