HMA Agro Industries IPO listing today. GMP, experts signal flat listing
HMA Agro Industries IPO: Shares of HMA Agro Industries Limited are going to hit stock market today. As per BSE notification, effective from Tuesday, July 4, 2023, the equity shares of HMA Agro Industries Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' group of securities. HMA Agro Industries shares will list on BSE and NSE in a Special Pre-open Session (SPOS).
According to stock market experts, HMA Agro is facing some arbitration challenges and hence its business outlook for medium to long term can't be ascertained. They said that the public offer received got fully subscribed but the response it received from investors wasn't much overwhelming. However, the issue is expected to list flat to positive as market mood is highly positive.
They said that in bulls case the stock may list at around 640 to ₹645 whereas in case of weak market opening, the HMA Agro IPO listing price would be around ₹605 to ₹615 apiece levels. Speaking on HMA Agro IPO listing price prediction, Vaibhav Kaushik, Research Analyst at GCL Broking said, "We are expecting flat to positive listing as the company is facing huge arbitration challenge and market is skeptical about its corporate governance as well. However, market mood is highly positive and hence the public issue may get benefit of Dalal Street mood.
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