Latest News | HMA Agro Industries IPO Subscribed 1.62 Times on Last Day

New Delhi, Jun 23 (PTI) The Initial Public Offer (IPO) of frozen meat exporter HMA Agro Industries was subscribed 1.62 times on the last day of subscription on Friday.

The Rs 480-crore offer received bids for 97,93,625 shares against 60,54,054 shares on offer, as per NSE data.

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The category for non-institutional investors received 2.97 times subscription, while the portion for Qualified Institutional Buyers (QIBs) was subscribed 1.74 times and Retail Individual Investors' (RIIs) 96 per cent.

The IPO had a fresh issue aggregating up to Rs 150 crore and an offer of sale of up to Rs 330 crore.

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The price range for the offer was Rs 555-585 a share.

The company proposes to utilise the net proceeds of the fresh issue for funding working capital requirements and other general corporate purposes.

The shares of the company will be listed on both BSE and NSE.

Aryaman Financial Services was the manager of the offer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)