Bumper debut! Hamps Bio lists at 90% premium, hits upper circuit later

Hamps Bio IPO listing today: Shares of Hamps Bio made a solid debut on the BSE SME today, Friday, December 20, 2024, continuing their upward momentum to hit the upper circuit within a few minutes of listing. The company's stock listed at Rs 96.90 apiece, a 90 per cent premium over the IPO allotment price of Rs 51.

 

After listing, the Hamps Bio shares gained an additional 5 per cent, surging 99.49 per cent from the issue price to reach the upper circuit of Rs 101.74 apiece on the BSE SME. During the session, nearly 0.28 million shares, valued at Rs 2.90 crore, were traded before trading was halted. 

 

Hamps Bio IPO listing aligns with grey market trends, as the company’s shares were commanding a solid premium in unofficial markets. Ahead of the listing, Hamps Bio shares were trading at Rs 111 apiece, reflecting a grey market premium (GMP) of Rs 60 or 117.65 per cent over the issue price, revealed sources tracking grey market activities.

 

The SME offering of Hamps Bio, comprising a fresh issue of 12,20,000 equity shares at Rs 51 apiece, received enthusiastic participation from investors. The public offering, which was available for subscription from Friday, December 13, 2024, till Tuesday, December 17, 2024, ended with getting oversubscribed by a whopping 1,003.33 times, according to BSE data.

 

Hamps Bio will utilise the proceeds from the public offering for the purchase of plant & machinery for the FMCG division and for enhancing the visibility and awareness of the brand. The company will also use the proceeds for general corporate purposes.

 

Hamps Bio is a pharmaceutical company engaged in the marketing and distribution of pharmaceutical formulation products. The company's product portfolio includes a wide range of dosage forms, such as tablets, syrups, capsules, injectables, oils, gels, and powders, which are used as medicines and nutritional supplements. In addition to its pharmaceutical business, the company also manufactures and supplies freeze-dried and frozen products, including fruits, vegetables, herbs, and flowers.