HOAC Foods IPO: The initial public offering (IPO) of food products manufacturer Hariom Atta & Spices Ltd opened for subscription on Thursday, May 16. Hariom Atta & Spices IPO or HOAC Foods IPO is an SME IPO and will close on May 21.
HOAC Foods IPO is a fixed price issue worth ₹5.54 crore and entirely a fresh issue of 11.55 lakh equity shares. HOAC Foods IPO price band is ₹48 per share. The IPO lot size is 3,000 shares and the minimum investment amount required by retail investors is ₹144,000.
The company proposes to utilize the net issue proceeds towards funding the working capital requirements and general corporate purposes.
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Hariom Atta & Spices IPO allotment is expected to be finalized on Wednesday, May 22, and the equity shares of the company will be listed on NSE SME with a tentative listing date fixed on May 24.
GYR Capital Advisors Pvt Ltd is the book running lead manager of the HOAC Foods IPO, while Kfin Technologies is the IPO registrar.
HOAC Foods India is a manufacturer of flour, spice, and other food products. As of December 2023, the company had 10 Exclusive Brand Outlets consisting of 4 owned by the company and 6 owned by franchisees. Its manufacturing facility is situated in Gurugram.
After knowing HOAC Foods IPO details, let us check HOAC Foods GMP today and subscription status.
HOAC Foods IPO Subscription Status
HOAC Foods IPO has been heavily oversubscribed on the first day of the bidding itself as it is receiving strong demand from retail investors. The subscription status shows that Hariom Atta & Spices IPO has been subscribed 19.75 times in total so far on May 16. The issue received bids for 2.09 crore equity shares as against 10.62 lakh shares on the offer, as per data available till 1:30 pm.
The public issue has been subscribed 34.29 times in the retail category, and 5.21 times in the Non-Institutional Investors (NII) category so far.
HOAC Foods IPO GMP Today
Hariom Atta & Spices IPO is commanding a strong premium in the grey market today. HOAC Foods IPO GMP today, or grey market premium today, is ₹80 per share, as per stock market observers. This indicates that the equity shares of HOAC Foods are trading higher by ₹80 than their issue price in the grey market.
Thus, HOAC Foods IPO GMP indicates that HOAC Foods shares are trading at ₹128 apiece in the grey market, a premium of 166.67% to the issue price of 48 per share.
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Published: 16 May 2024, 01:33 PM IST
