HMA Agro Industries IPO: Rs 480 crore - Frozen meat exporter files initial papers for initial share sale
The Initial Public Offering (IPO) will comprise fresh issue of equity shares aggregating up to Rs 150 crore and an Offer For Sale (OFS) of equity shares worth up to Rs 330 crore by its promoters.
Frozen meat exporter HMA Agro Industries has filed preliminary papers with markets regulator Sebi for an initial share sale worth Rs 480 crore.
The Initial Public Offering (IPO) will comprise fresh issue of equity shares aggregating up to Rs 150 crore and an Offer For Sale (OFS) of equity shares worth up to Rs 330 crore by its promoters.
See Zee Business Live TV Streaming Below:
According to the Draft Red Herring Prospectus (DRHP), OFS comprises offloading of up to Rs 120 crore worth shares by Wajid Ahmed and shares valued at Rs 49 crore each by Gulzar Ahmad, Mohd Mehmood Qureshi, Mohd Ashraf Qureshi and Zulfiqar Ahmad Quraishi. Besides, shares worth Rs 14 crore will be sold by Parvez Alam.
The company will use the net proceeds worth Rs 135 crore for funding working capital requirements as well as for general corporate purposes.
The Agra-based firm is among the largest exporters of frozen buffalo meat products from India. Its products are exported to over 40 countries all over the globe. More than 90 per cent of its sales comes from of exports.
For the financial year ended March 2021, the company posted a profit after tax of Rs 73 crore while the total income from operations stood at Rs 1,720 crore.
Aryaman Financial Services is the book running lead manager for the IPO.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
IRCTC Dividend 2024: Railway PSU announces 200% interim dividend - Check record date and other details
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
Power of Compounding: How many years it will take to reach Rs 2 crore corpus if your monthly SIP is Rs 3,000, Rs 4,000, or Rs 5,000
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
03:59 PM IST