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HMA Agro Announces Price Band Of Rs 555-585 Per Share; IPO Set To Open On June 20

HMA Agro Industries is all set to open its initial public offer (IPO) on June 20. The company has fixed the price band for its Rs 480 crore issue at Rs 555-585 per share. The anchor bidding will held on June 19 and the IPO will conclude on June 23.

The IPO consist fresh issue of equity shares of Rs 150 crore and an offer for sale of up to Rs 120 crore by Wajid Ahmed, up to Rs 49 crore each by Gulzar Ahmad, Mohammad Mchmood Qureshi, Mohammad Ashraf Qureshi and Zulfiqar Ahmad Qurashi. Parvez Alam will offload shares up to Rs 14 crore.

The company will use proceeds from the fresh issue towards working capital requirements and general corporate purposes.

HMA Agro Industries holds a prominent position as one of India's major exporters of frozen buffalo meat products. With a market share exceeding 10% of India's total export of frozen buffalo meat, the company has established itself as a key player in the industry. Its products are marketed under the well-known brand names 'Black Gold,' 'Kamil,' and 'HMA.' 

These high-quality meat products are in demand across the globe, reaching over 40 countries such as the UAE, Iraq, Saudi Arabia, Oman, Bahrain, Jordan, and many more. Through its extensive distribution network, HMA Agro Industries continues to expand its global presence and deliver its renowned buffalo meat products to customers worldwide.

Aryaman Financial Services Ltd is the sole merchant banker of the issue and Bigshare Services Pvt Ltd is the IPO registrar.