HMA Agro Industries' IPO fully subscribed

The initial public offering (IPO) of buffalo meat exporter HMA Agro Industries was fully subscribed on the last day amid muted interest from retail investors. Most of the heavy lifting was done by NIIs (non-institutional investors) and QIBs (qualified institutional buyers), whose subscription rates stood at 2.3 and 1.04 times. The retail investors' subscription stood at 70%. The IPO comprises a fresh issue of equity shares up to INR 150 crore and an offer for sale (OFS) of INR 330 crore by promoters and selling shareholders. Aryaman Financial Services is the sole Book Running Lead Manager to the issue and Bigshare Service is the Registrar. The shares of the company will be listed on the BSE and the NSE.