HOAC Foods IPO Day 1: Check subscription status, GMP, financials & more

The IPO, which opened on Thursday, May 16, has been oversubscribed 13.57 times, indicating robust demand from investors

HOAC Foods IPO: Hariom Atta & Spices (HOAC Food India) has garnered considerable investor interest with its initial public offering (IPO) on Day 1 of the subscription.  

The HOAC Foods India IPO, which opened on Thursday, May 16, has been oversubscribed 13.57 times, indicating robust demand from investors. By 12:31 PM, the IPO had received an impressive 1,56,78,000 bids, surpassing the 11,55,000 shares offered in the IPO. 

With a fixed price issue of Rs 5.54 crores, the HOAC Foods India IPO comprises entirely fresh shares totaling 11.55 lakh. 

Meanwhile, the subscription for the HOAC Foods India IPO will conclude on May 21, 2024.

Hariom Atta & Spices, established in 2018, specialises in the production of flour, spices, and other food items. Marketed under the brand name ‘HARIOM,’ the company's products include chakki atta (flour), herbs, spices, unpolished pulses, grains, and yellow mustard oil. 

With a strong presence in Delhi-NCR, Hariom operates through its 10 exclusive brand outlets, combining both company-owned and franchise-operated stores. The company has a manufacturing facility in Gurugram.

Here is all you need to know about the Hariom Atta & Spices IPO:

Price band

HOAC Foods India IPO price is Rs 48 per share. 

Financial performance

HOAC Foods India's topline grew 112.09 per cent and profit after tax (PAT) zoomed 340.4 per cent between the financial years ending March 31, 2023, and March 31, 2022.

Objective of IPO

The proceeds from the HOAC Foods India IPO will be allocated towards general corporate purposes and funding the company's working capital requirements.

Lot size 

The minimum and maximum bid sizes stand at 3,000 shares worth Rs 144,000. For high net worth individuals (HNIs), the minimum lot size is 2, equivalent to 6,000 shares worth Rs 288,000. 

Grey Market Premium (GMP)

The Grey Market Premium for HOAC Foods India IPO stood at Rs 80, indicating a potential listing gain of 78 per cent at the upper price band of the IPO. 

Allotment, listing details

HOAC Foods India IPO allotment is expected to be finalised on May 22, 2024, with listing scheduled on NSE SME by May 24, 2024.

Lead Manager, Registrar details 

GYR Capital Advisors Private Limited is the book running lead manager, while Kfin Technologies Limited serves as the registrar. Giriraj Stock Broking is the market maker for HOAC Foods India IPO.
 

Competitors

Hariom Atta & Spices faces competition from companies such as Anveshan and Natureland Organics in its segment.