HOAC Foods India shares list at bumper premium of 206% on NSE SME

HOAC Foods India share price: HOAC Foods India Ltd shares listed at a bumper premium of 206% against the issue price on the NSE SME platform on Friday, May 24.

The stock, however, slipped from the opening price to trade at ₹139.65 per share later due to some selling pressure. The stock was up 91% from the issue price, but was down 5% from the listing price. More than 3 lakh shares of the company were traded in morning deals. The turnover was ₹4.46 crore.

The market capitalisation of the company was ₹53.67 crore.

HOAC Foods India Ltd raised around ₹ 5.54 crore from public investors through its public offer. The IPO was opened for subscription on May 16 and closed on May 21.

The public offer was a fixed-price issue and comprised a fresh issue of 11.55 shares. The minimum lot size for the application was 3,000 shares for retail investors.

The IPO received a stellar response from investors. At the close of bidding on May 21, the issue was booked a whopping 2,013.64 times. Bids for 213.84 crore equity shares worth ₹10,264.72 crore were received against 10.62 lakh equity shares offered for subscription.

Retail investors’ quota was booked 2,556.46 times while the non-retail investors’ quota was booked 1,432 times. The Qualified Institutional Buyers (QIBs) placed bids for 2.02 crore shares.

Hariom Atta and Spices IPO finalised the share allotment on Wednesday, May 22. Investors can check the share allotment status on websites of IPO registrar KFin Technologies and NSE.

According to HOAC Foods India, the company has proposed to use ₹3.5 crore for funding the working capital requirements and ₹1.45 crore for general corporate purposes.

About HOAC Foods

The company is engaged in the manufacturing of flour, herbs and spices, unpolished pulses, grains and mustard oil. The company markets and sells the products in and around Delhi-NCR under the brand name ‘HARIOM’ through its exclusive brand outlets.

Its franchisee network comprised four company-owned outlets and six franchisee-owned outlets.

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