HOAC Foods India listing missed grey market estimates where shares were trading at a premium of over 300 per cent.
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HOAC Foods India listing: The shares of Hariom Atta & Spices or HOAC Foods made a bumper market debut after listing at ₹147- a premium of 206 per cent over the issue price of ₹48 on the NSE SME platform. The listing missed grey market estimates where shares were trading at a premium of over 300 per cent.
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HOAC Foods India IPO
The IPO- which is worth ₹5.54 crore public offer- is a fresh issue of 11.55 lakh shares. The issue was subscribed over 2,000 times with retail individual investors buying 2,556 times their allotted quota, while non-institutional investors bought 1,433 times their reserved portion.
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Through the IPO, the company plans to raise money for funding working capital requirements and general corporate purposes. The price band of the IPO was fixed at ₹48.
