The Hariom Atta & Spices IPO aimed at raising ₹5.54 crores, opened subscription on May 16 and is scheduled to close today, May 21. The IPO is a fresh issue of 11.55 lakh shares, with no Offer for Sale (OFS) component.
HOAC IPO Subscription Status
As of 4:09 pm today, the IPO has seen a robust response from investors across categories reaching a subscription of 1,972 times. The Non-Institutional Investors (NIIs) category has shown a strong interest, bidding 1,429 times the allotted shares. The Retail Individual Investors (RIIs) category’s subscription stood at 2,477 times.
The IPO’s allocation structure reserves not more than 50% of the shares for QIBs, a minimum of 15% for NIIs, and a minimum of 35% for Retail Investors.
HOAC IPO GMP
The HOAC IPO GMP is currently reported at ₹151. This is a jump from the ₹111 reported earlier. With the IPO price band of ₹48, the estimated listing price is ₹199, indicating a potential gain of 314.58% per share. However, it’s crucial to note that while GMPs can provide some insight into market sentiment towards an IPO, they should not be considered as the sole determinant of the stock’s performance upon listing.
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HOAC IPO Details
The IPO price for Hariom Atta & Spices is set at ₹48 per share, with a minimum lot size of 3,000 shares for retail investors, requiring a minimum investment of ₹144,000. The company plans to use the net proceeds from the IPO for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and general corporate purposes. The allotment for the IPO is expected to be finalised on Wednesday, May 22, with a tentative listing date of Friday, May 24, on the NSE SME.
About Hariom Atta & Spices
Established in 2018, HOAC Foods India Limited, trading as Hariom Atta & Spices, is a manufacturer of flour, spice, and other food products. The brand “HARIOM” markets and sells flour (chakki atta), herbs & spices, unpolished pulses, grains, and yellow mustard oil in and around Delhi-NCR through exclusive brand outlets. As of Dec 31, 2023, the company had 10 Exclusive Brand Outlets, 4 owned by the company and 6 owned by franchisees. The company has a manufacturing facility in Gurugram.
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