HMA Agro Industries Limited IPO
HMA Agro Industries Limited IPO
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HMA Agro Industries Limited's has transitioned to a publicly listed entity following its IPO debut on 04-07-2023 at the NSE, BSE exchange. The public offering successfully raised 82,05,127 Shares, consisting of 25,64,102 Sharesin new capital and ₹330.00 Cr in existing shareholder sales.
The IPO featured a competitive price range of ₹555 to ₹585 and minimum application size of 25 shares. Market reception was evidenced through subscription activity between 20-06-2023 and 23-06-2023, reflecting investor appetite for the offering.
Allotment of shares was completed on 28-06-2023, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
HMA Agro IPO About Company
HMA Agro Industries Limited, incorporated in 2008, is a leading food trade organization in India specializing in handled food and agro products, including frozen fresh deglanded buffalo meat, prepared/frozen natural products, vegetables, and cereals. The company is one of India’s largest exporters of frozen buffalo meat, contributing over 10% of the country’s total exports in this segment, with products marketed under the brands “Black Gold,” “Kamil,” and “HMA” and exported to more than 40 countries worldwide. HMA Agro operates four fully integrated meat processing plants in Aligarh, Mohali, Agra, and Parbhani, and is in the process of establishing a fifth plant in Haryana and acquiring a sixth in Unnao, expanding its total in-house processing capacity to over 400,000 metric tons per annum. Additionally, the company owns secondary processing units in Jaipur and Manesar, with facilities approved for export to countries across the Middle East, CIS, Africa, and Southeast Asia. Approximately 90% of its sales are exports, and the HMA Group employs around 25,000 people across more than 10 locations in India.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
HMA Agro IPO Strength Factors
NA
HMA Agro IPO Risk Factors
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HMA Agro IPO Lead Manager(s)
- Aryaman Financial Services Limited
HMA Agro IPO Promoter(s)
- Mr. Wajid Ahmed
- Mr. Gulzar Ahmad
- Mr. Mohammad Mehmood Qureshi
- Mr. Mohammad Ashraf Qureshi
- Mr. Zulfiqar Ahmad Qurashi
HMA Agro IPO FAQs
HMA Agro Industries Limited IPO subscribed 1.62 times. The public issue subscribed 1.02 times in the retail category,1.84times in QIB, and 4.02 times in the HNI (10+) category byNovember 10, 2025 12:59:12 PM (Day 10).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
HMA Agro IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
HMA Agro IPO FAQs
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