HMA Agro Industries IPO to open on June 20; sets price band at Rs 555-585/share

Frozen meat exporter HMA Agro Industries on Thursday said it has fixed a price band of Rs 555-585 a share for its Rs 480 crore-initial public offering, which will open on June 20. The initial public offering (IPO) will conclude on June 23. The bidding for anchor investors will open on June 19, the company said in a statement.

The initial share sale consists of a fresh issue size of 25.64 lakh equity shares with a face value of Rs 10 each, aggregating to Rs 150 crore and an offer for sale (OFS)component of 56.41 lakh equity shares worth Rs 330 crore. The company proposes to utilise the net proceeds of the fresh issue for funding working capital requirements and other general corporate purposes.

The allotment will be done on June 29 while listing will take place on July 4. The book running lead manager to the issue is Aryaman Financial Services Ltd and the registrar to the issue is Bigshare Services Pvt Ltd, the statement said. The shares of the company will be listed on both BSE and NSE, it added.