HMA Agro Industries IPO: Here's how to check allotment status & grey market premium

HMA Agro Industries, whose Rs 480-crore initial public offer (IPO) received a muted response from the investors during the bidding process, is likely to finalize the basis of allotment of shares on Wednesday 29, 2023. The issue was open for subscription between June 20-23 in the price range of Rs 555-585 per share.

The IPO of HMA Agro Industries had received a tepid response from the investors and was overall subscribed only 1.62 times. The portion for qualified institutional bidders was booked 1.74 times, while the non-institutional investors' category was subscribed 2.97 times. The quota reserved for retail investors was subscribed 96 per cent.
 

Grey market premium (GMP) of HMA Agro Industries has seen consistent correction ever since the issue closed for subscription amid the volatility in the broader markets. Last head, HMA Agro was commanding a premium of Rs 10-15 in the grey market, which was around Rs 25-30 on June 19, the last first day of the bidding.

HMA Agro is one of the largest exporters of buffalo meat in India, accounting for more than 10 per cent of India’s export of frozen buffalo meat. Its products are self-branded, packaged under the brand name 'Black Gold', 'Kamil' and 'HMA' and exported to over 40 countries.

Analysts remained divided on the issue. A few suggest investing in the issue citing its strong growth, rising demand of meat in the world and consistent performance. However, a few suggest avoiding the issue citing mounting debt and corporate governance concerns in the company.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity
3) Under the issue name, select HMA Agro Industries Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of Bigshare Services Private Limited (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of Bigshare Services Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN

4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.

Bidders who could not get allotment in the IPO may see the initialisation of refunds on June 30. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by July 03. The listing of the IPO is likely on Tuesday, July 04.

 

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