HMA Agro Industries IPO Review

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HMA Agro Industries IPO, an Indian firm founded in 2008, is one of the producers of frozen buffalo meat products, accounting for more than 10% of all frozen buffalo meat exported from India. Products from the firm are sold to more than 40 nations under the brand names “Black Gold,” “Kamil,” and “HMA.”

The business now runs four fully integrated packaged meat processing facilities in Aligarh, Mohali, Agra, and Parbhani. A fifth fully integrated-owned meat product manufacturing facility is being established in Haryana.

By the second quarter of FY23, the business hopes to have acquired a second factory in Unnao. In-house meat product processing capacity is anticipated to reach more than 4,00,000 metric tonnes annually by FY23, distributed among six different owned units.

Among the company’s products:

The following list includes the many goods that the business sells under several Brand Names:

  1. Black Gold” is the brand name, and the item is frozen buffalo meat.
  2. Brand Name: “KAMIL”, Product: Frozen Buffalo Meat
  3. Brand Name: “HMA”, Product Name: Frozen Buffalo Meat
  4. Brand Name: “Fresh Gold”, Product Name: Frozen Fish
  5. Brand Name: “Green Gold” Product Name: Basmati Rice

Previous Financial Highlights:

When we examine the HMA Agro Industries IPO’s financials, we find that the company’s assets increased from Rs. 472.85 crores in March 2020 to Rs. 971.72 crores in December 2022.

Similar revenue and income increased from 2416.61 crores in March 2020 to 3138.97 crores in March 2022. Up through December 2022, the firm has reported total revenue of Rs. 2417.82 Crores for FY23.

However, despite the company’s declining revenue in FY21, net earnings have increased YoY. From March 2020 to March 2022, its profits increased from Rs. 45.98 crores to Rs. 117.62 crores. Up through December 2022, the firm has reported a net profit of Rs. 113.23 Crores for FY23.

Notably, the company’s borrowing has climbed from Rs. 169.17 crores. to Rs. 295.17 crores in December 2022.

HMA Agro Industries IPO Review – Key IPO Information

IPO Size₹480.00 Cr
Fresh Issue₹150.00 Cr
Offer for Sale (OFS)₹330.00 Cr
Opening dateJune 20th, 2023
Closing dateJune 23rd, 2023
Face Value₹10 per share
Price Band₹555 to ₹585 per share
Lot Size25 Shares
Minimum Lot Size1 (325 Shares)
Maximum Lot Size13 (325 Shares)
Listing DateJuly 4th, 2023
HMA Agro Industries IPO Reservation
QIB Shares Offered
Not more than 50.00% of the Net offer
NII (HNI) Shares Offered
Not less than 15.00% of the Offer
Retail Shares Offered
Not less than 35.00% of the Offer

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Promoters: Wajid Ahmed, Gulzar Ahmad, Mohammad Mehmood Qureshi, Mohammad Ashraf Qureshi And Zulfiqar Ahmad Qurashi.

Book Running Lead Manager: Aryaman Financial Services Limited

Registrar to the Offer: Bigshare Services Private Limited

The Objective of the Issue:

Following are the Objectives of the issue by the company:

1) Funding working capital requirements of the Company
2) General Corporate Purpose

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