HMA Agro Listing: ₹ 30 Profit On Listing, Shares Of HMA Agro Industry Made A Great Debut

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New Delhi: The shares of HMA Agro Industries are listed on the stock exchange at a premium. Shares of HMA Agro rose 5.13 percent or Rs. 30 at the Bombay Stock Exchange with a premium of Rs. 615 was listed. In the IPO, the company raised Rs. 555-585 price band was fixed. Even after the listing, the stock is seeing a surge and is currently trading at Rs. 651 which means that IPO investors are getting Rs. 66 i.e. 8 percent are earning profit.

The share of retail investors was not filled in HMA Agro IPO

Rs. 480 crore IPO opened for subscription between June 20-23 and was subscribed 1.62 times. The share of retail investors was filled only 0.96 times. Under IPO Rs. 10 shares having a face value of Rs. 585 have been issued. The money raised through the new shares will be used by the company to meet working capital requirements and for general corporate purposes. Under this IPO, Rs. 150 crore of new shares have been issued and under the Offer for Sale (OFS) window Rs. 330 crore shares have been sold.

HMA Agro is a family business started by Gulzar Ahmed and Wajid Ahmed together. Gulzar Ahmed is its chairman and whole time director, while Wajid Ahmed is the MD on the board. Talking about the business of the company, it is involved in the business of buffalo meat, natural products, vegetables and grains and is one of the largest exporters of buffalo meat i.e. beef. It accounts for more than 10 percent of beef exports. Its products are exported to more than 40 countries. About 90 percent of the company’s sales are in the form of exports. It sells its products under the brand names Black Gold, Kamil and HMA.

It has four fully integrated packaged meat processing plants at Aligarh, Mohali, Agra and Parbhani and is now planning to open one more such plant in Haryana. At the same time, it is acquiring land for another plant in Unnao. Apart from this the company has two secondary level meat processing units at Jaipur and Manesar. Talking about the financial health of the company, its profit has increased in every financial year. In FY 2019, its net profit was Rs 31.17 crore. In the very second financial year, it increased to Rs. 45.90 crore, then in FY 2021 Rs. 71.60 crore and in FY 2022 Rs. 117.62 crores.