HMA Agro Industries Ltd recently launched its initial public offer (IPO), which started on June 20, 2023, and will be open for subscription until June 23, 2023. With just two days remaining, potential investors are considering whether to apply for India’s largest frozen buffalo meat products exporter company. As of now, the IPO has been subscribed 0.56 times, while the retail portion has been subscribed 0.39 times, according to the HMA Agro Industries Ltd IPO subscription status. Market observers note that the IPO’s grey market premium (GMP) has remained stable at ₹25 per share for the past two days.

The subdued response from investors has resulted in a lackluster performance of HMA Agro Industries Ltd shares in the grey market. Despite the positive overall stock market sentiment, this public issue has not generated much enthusiasm among investors in the grey market. Nevertheless, experts believe that the grey market remains positive about the IPO, considering there are still two more days to apply.

Regarding the financials of HMA Agro Industries Ltd, the company has established distribution channels across 40 countries and recently expanded its product portfolio by including Frozen Fish Products and Basmati Rice, with plans to venture into Poultry and other Agri products. In terms of financial performance, the company recorded a turnover/net profit of Rs. 2416.61 cr. / Rs. 45.90 cr. (FY20), Rs. 1720.40 cr. / Rs. 71.60 cr. (FY21), and Rs. 3138.98 cr. / Rs. 117.62 cr. (FY22) on a consolidated basis. For the first nine months of FY23, it achieved a net profit of Rs. 113.24 cr. with a turnover of Rs. 2417.82 cr. Despite a minor setback in the top line due to the pandemic, the company showed improved margins and aims to maintain growth with its new fully integrated plant and equipment.

Investors considering applying for the HMA Agro Industries Ltd IPO should note that the upper band price is ₹585, which could potentially lead to listing gains. However, it is always recommended to consult certified experts before making any investment decisions.

Disclaimer: The opinions and recommendations expressed in this article are those of individual analysts and do not necessarily represent the views of Storritalk. It is advisable for investors to seek advice from certified experts before making any investment decisions.