Stock Split: HMA Agro shares hit upper circuit as company fixes record date for sub-division of equities

Stock Split: Shares of HMA Agro Industries Ltd surged 10 per cent to hit its upper price band of Rs 687.10. The surge in stock price came after the record date for the sub-division of equity shares.

At this price, the counter is trading higher than the 5-day, 20-day, 100-day and 200-day moving averages but lower than the 50-day moving averages. 

HMA Agro: Record Date for sub-division/split of equity shares 

The company has informed the exchange that it has fixed December 29, 2023 as the record date for determining the eligibility of shareholders for the purpose of sub-division or stock-split of each equity shares.

"The Company passed the Resolution at the Board Meeting held today, 12th December, 2023, and fixed the ‘Record Date’ i.e. ‘Friday, December 29, 2023’ for the purpose of sub-division /split of each equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into Ten (10) equity shares having face value of Rs. 1/- (Rupees One only) each fully paid-up," the exchange filing reads. 

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.