HMA Agro Industries initial public offer (IPO) will open on June 20 and primary market investors are bullish after successful listing of IKIO Lighting last week. HMA Agro Industries will open bidding on June 20 and IPO will remain open till June 23, 2023. Indian markets are hovering around all-time highs for major indices but investors should be careful before applying for IPOs. The financials of the company should be carefully checked before investing. Any investing decision should be made after due-diligence.

HMA Agro Industries exports frozen buffalo meat. The company will use proceeds from IPO for its working capital requirements and other corporate purposes. The company is the largest exporter of frozen buffalo meat from India. It currently hold over 10 percent market share in the segment. The company exports frozen meat to over 40 countries worldwide. 97 percent of revenue is generated from frozen buffalo meat and rest is from fish and rice exports.

Currently, 100 percent stake in the company is owned by Promoters. After the IPO, promoters’ stake will reduce to 84 percent.

HMA Agro Industries currently operates four packaging facilities in Aligarh, Mohali, Agra and Parbhani. In Unnao, one more plant has been acquired by the company. One more plant is under setup in Haryana.

During year 2022-23, HMA Agro Industries registered net profit of Rs 118 crore on sales of Rs 3083 crore. The company registered 65 percent growth in net profit and 80 percent growth in sales.

Whenever stock markets showcase optimism, many companies float their IPOs and receive good response from primary market. Ahmedabad-based RBZ Jewellers has also filed IPO papers with SEBI.