HMA Agro Industries Ltd. Announces IPO with ₹480 Crores Offering, Aiming to Become India’s First Publicly Listed Frozen Buffalo Meat Exporter

New Delhi [India], June 21 – HMA Agro Industries Ltd. (HAIL), a flagship company of the HMA Group, has announced its Initial Public Offering (IPO) to raise capital. Established over four decades ago, the HMA Group has been a leader in the meat industry, and the company is recognized with a three-star export house reorganization by the Government of India.

This public offering includes a fresh issuance of shares aggregating up to ₹150 crores (the “Fresh Issue”) and a Offer for Sale (OFS) by selling shareholders of shares totaling ₹330 crores, making the total IPO size ₹480 crores.

IPO Details:

  • Price Band: ₹555 to ₹585 per equity share
  • Bid/Offer Closure: Friday, June 23, 2023
  • Anchor Investor Bid/Offer Period: One working day prior to the Bid/Offer Opening Date, i.e., Monday, June 19, 2023.

HMA Agro is currently one of the largest exporters of frozen buffalo meat products from India, accounting for over 10% of the country’s total frozen buffalo meat exports, as per a Brickworks Analytics Report. The company’s products are primarily marketed under the “Black Gold,” “Kamil,” and “HMA” brands, and are exported to over 40 countries worldwide. In addition to buffalo meat, the company also deals in allied products.

Unlike beef or pork, buffalo meat is free from religious constraints and is considered a healthier alternative due to its low-fat content and lower cholesterol levels. HMA Agro produces deboned, deglanded frozen halal buffalo meat, complying with stringent regulatory standards set by APEDA, FSSAI, and other authorities.

Comment from the Chairman:

Gulzar Ahmad, Chairman and Whole-Time Director of HMA Agro Industries Ltd., expressed his excitement: “We’re thrilled to launch the IPO of HMA Agro Industries Ltd. The company is one of the top three buffalo meat exporters in India and is experiencing growing demand. We’ve also expanded our product range to include other agro products for export, further strengthening our position in the global market.”

IPO Management:

The Sole Book Running Lead Manager for the offering is Aryaman Financial Services Ltd. while Bigshare Services Pvt. Ltd. has been appointed as the registrar for the issue.

The Prospectus containing further details is available on the official websites of SEBI and the Stock Exchanges.

About HMA Agro Industries Ltd.:

HMA Agro is one of India’s largest exporters of frozen buffalo meat, with a global presence spanning over 40 countries. The company’s stringent quality control and export practices have made it a trusted name in the meat industry. Its diverse product offerings and commitment to excellence have positioned it as a leader in India’s frozen meat export sector.

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