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    HOAC Foods IPO opens today: Check issue size, price band, GMP and other details

    Synopsis

    HOAC Foods IPO: The IPO opened today and will conclude on May 21. HOAC Foods plans to raise approximately Rs 5.5 crore through the SME IPO. The company intends to list its shares on the NSE SME platform. HOAC Foods specializes in the production of flour (chakki atta), herbs and spices, unpolished pulses, grains, and yellow mustard oil.

    HOAC Foods IPO opens today: Check issue size, price band, GMP and other detailsAgencies
    The SME IPO of HOAC Foods opened for subscription earlier today and will close on May 21. The company aims to raise about Rs 5.5 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

    1) About HOAC Foods
    The company is engaged in the manufacturing of flour (chakki atta), herbs and spices, unpolished pulses, grains, and yellow mustard oil in our product range and markets & sell it in and around Delhi-NCR under the brand name "Hariom" through our exclusive brand outlets.

    2) Industry overview
    The fast-moving consumer goods (FMCG) sector is India’s fourth-largest sector and has been expanding at a healthy rate over the years as a result of rising disposable income, a rising youth population, and rising brand awareness among consumers.

    3) HOAC Foods IPO size

    The IPO is entirely a fresh equity issue of 11.55 lakh shares and through the issue, the company aims to raise nearly Rs 5.5 crore.

    4) HOAC Foods IPO price band
    The company is offering its shares at Rs 48 apiece, and investors can bid for 3000 shares in 1 lot.

    5) HOAC Foods IPO financial performance
    For the period ended December 2023, the company clocked revenues of Rs 11.48 crore and net profit of Rs 74 lakh.

    Also Read: Go Digit Insurance IPO: GMP, price band among 10 things to know before subscribing to the issue

    6) Objects of the offer
    The net proceeds from the public offer will be used for funding working capital requirements and general corporate purposes.

    7) Lead managers and Registrar
    GYR Capital is acting as the lead manager to the issue and Kfin Technologies is the registrar.

    8) Issue structure
    About 50% of the offer is reserved for retail investors, and the rest 50% for other investors.

    9) Important dates

    The IPO opened on May 16 and will close on May 21. The final allotment will likely be made on May 22. The company's shares will likely get listed on May 24.

    10) HOAC GMP
    Ahead of the issue opening, the company's shares traded with a GMP of Rs 50 in the unlisted market.


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    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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