HMA Agro Industries may consider stock split soon - Check details

HMA Agro Industries, a food trade company, has informed through a regulatory filing that its board will meet next month to consider and approve a proposal to sub-divide/split the equity shares.

According to a filing by the company on NSE and BSE, a meeting of the board of directors of the company is scheduled to be held on November 8 at the registered office of the company.

"To consider and approve the proposal to sub-divide/split of the equity shares of the Company in such manner as may be determined by the Board of Directors and subject to the approval of the shareholders and such authorities as may be required," the company said in an exchange filing.

"To consider and approve the unaudited Financial Results (Standalone and Consolidated) of the company for the quarter/half year ended on September 30, 2023," the filing added.

HMA Agro Industries shares made a strong debut in the secondary market in July, 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.