HMA Agro Industries approves stock split - check details

HMA Agro Industries, a food trade company, has informed through a regulatory filing that its board has approved a proposal to subdivide/split the equity shares.

According to a filing by the company on NSE and BSE, the board of directors of the company at a meeting held on November 8 approved the corporate event.

"The Board considered the proposal for sub-division of 1(one) equity share of the Company having a face value of Rs 10/- each into 10 (Ten) equity shares having a face value of Rs 1/- each, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company," the company said in an exchange filing.

The record date for the sub-division of equity shares shall be decided by the Board and will be intimated to the exchanges, the filing said further.

HMA Agro Industries shares made a strong debut in the secondary market in July this year, opening at Rs 615 apiece on BSE — a premium of more than five per cent over the upper end of the IPO price band of Rs 555-585. On NSE, the stock began its journey at Rs 625, a premium of 6.8 per cent. 

HMA Agro Industries IPO comprised a fresh issuance worth Rs 150 crore as well as an offer for sale (OFS) worth Rs 330 crore by promoters and existing shareholders.

HMA Agro Industries is an exporter of meat products, offering a range of products under the brands Black Gold, Kamil and HMA. The company is a government-recognised exporter of buffalo meat. It exports its products to 40 different countries.