HMA Agro Industries IPO: Under this IPO, fresh shares up to Rs 150 crore will be issued.
HMA Agro Industries IPO: Frozen meat export company HMA Agro Industries is going to bring its IPO. The company has filed a draft paper with the market regulator SEBI for this. The company wants to raise Rs 480 crore through this IPO. Under this IPO, fresh shares up to Rs 150 crore will be issued. At the same time, equity shares up to Rs 330 crore will be sold under the offer for sale (OFS) by the promoters of the company.
IPO related details
According to the Draft Red Herring Prospectus (DRHP), shares up to Rs 120 crore will be sold by Wajid Ahmed as part of the OFS. At the same time, shares worth Rs 49 crore each will be sold by Gulzar Ahmed, Mohammad Mehmood Qureshi, Mohammad Ashraf Qureshi and Zulfikar Ahmed Qureshi. Apart from this, Parvez Alam will sell shares worth Rs 14 crore.
Fund will be used here
The company will use the net proceeds of Rs 135 crore for working capital requirements. Along with this, the fund will also be used for general corporate purposes.
Know about the company
This Agra-based firm is one of the largest exporters of frozen Buffalo meat products in India. Its products are exported to more than 40 countries around the world. More than 90 percent of its sales come from export. In the financial year ended March 2021, the company’s profit after tax stood at Rs 73 crore, while total income from operations stood at Rs 1,720 crore. Aryaman Financial Services is the Book Running Lead Manager for the IPO.