HOAC Foods Listing: Stock makes stellar market debut, lists at 206% premium at ₹147
(HOAC Foods India) made a decent market debut today, as its shares opened at ₹147 each on NSE SME, indicating a premium of 206% over the issue price of ₹48. The SME IPO, valued at ₹5.54 crore, was open for subscription from May 16 to May 21, 2024, at a price of ₹48 per share.
It consisted solely of a fresh issue of 1,155,000 shares, without any offer-for-sale component. The company proposes to use the net issue proceeds towards working capital requirements and general corporate purposes.The IPO received an exceptional response from all sections of investors, with a staggering subscription rate of 2,013.64 times.
The market capitalisation of the Hariom Atta & Spices IPO is ₹18.45 crore, according to Chittorgarh. Also Read: Awfis Space Solutions IPO Day 3: Should you apply?Hariom Atta & Spices specialises in manufacturing a range of products, including flour (chakki atta), herbs & spices, unpolished pulses, grains, and yellow mustard oil, which are marketed under the brand name “HARIOM" through Exclusive Brand Outlets in and around Delhi-NCR.It carefully sources raw materials from different parts of the country and processes them without artificial preservatives or chemicals, resulting in an organic product portfolio known for its freshness and purity, as stated in its DRHP report.This business model has enabled the company to tap into a niche market segment in the Delhi-NCR region and build a loyal customer base since its inception.
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