HOAC IPO GMP Jumps On Allotment Day, Expected Listing Gains Over 300%

HOAC IPO closed for bidding on Tuesday, May 21. The SME IPO saw robust participation from investors receiving bids for 211.82 crore shares. The HOAC IPO GMP has also been steadily rising.

HOAC IPO GMP

The HOAC IPO GMP is currently reported at ₹175, a jump from ₹151 reported on Tuesday. With the IPO price set at ₹48 per share, the estimated listing price is ₹223, indicating a potential gain of 364% per share. However, it's crucial to note that while IPO 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.

HOAC IPO Subscription Status

On the final day of bidding the HOAC IPO closed with a robust response from investors across categories reaching a total subscription of 1,994 times. The Non-Institutional Investors (NIIs) category has shown a strong interest, bidding 1,432.60 times the allotted shares. The Retail Individual Investors (RIIs) category's subscription stood at 2,556 times.

See Also: How To Check HOAC IPO Allotment Status

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 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 HOAC IPO is expected to list on Friday, May 24, on the NSE SME.

About Hariom Atta & Spices

Established in 2018, HOAC Foods India manufactures flour, spices, and other food products. The “HARIOM” brand markets and sells products such as chakki atta, herbs & spices, unpolished pulses, grains, and yellow mustard oil in the Delhi-NCR region through exclusive brand outlets. As of December 31, 2023, the company operated 10 Exclusive Brand Outlets, with 4 owned by the company and 6 by franchisees. The company has a manufacturing facility located in Gurugram.

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