Business Standard

HMA Agro Industries files initial papers for Rs 480-crore IPO

Aryaman Financial Services is the book running lead manager for the IPO

IPO

The Initial Public Offering (IPO) will comprise fresh issue of equity shares aggregating up to Rs 150 crore

Press Trust of India New Delhi
Frozen meat exporter HMA Agro Industries has filed preliminary papers with markets regulator Sebi for an initial share sale worth Rs 480 crore.
The Initial Public Offering (IPO) will comprise fresh issue of equity shares aggregating up to Rs 150 crore and an Offer For Sale (OFS) of equity shares worth up to Rs 330 crore by its promoters.
According to the Draft Red Herring Prospectus (DRHP), OFS comprises offloading of up to Rs 120 crore worth shares by Wajid Ahmed and shares valued at Rs 49 crore each by Gulzar Ahmad, Mohd Mehmood Qureshi, Mohd Ashraf Qureshi and Zulfiqar Ahmad Quraishi. Besides, shares worth Rs 14 crore will be sold by Parvez Alam.
The company will use the net proceeds worth Rs 135 crore for funding working capital requirements as well as for general corporate purposes.
The Agra-based firm is among the largest exporters of frozen buffalo meat products from India. Its products are exported to over 40 countries all over the globe. More than 90 per cent of its sales comes from of exports.
For the financial year ended March 2021, the company posted a profit after tax of Rs 73 crore while the total income from operations stood at Rs 1,720 crore.
Aryaman Financial Services is the book running lead manager for the IPO.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 28 2022 | 4:01 PM IST

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