HOAC Foods India IPO Lists at +206.25% Premium

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 24th May 2024 - 12:10 pm

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Strong listing for HOAC Foods India IPO (Hariom Atta & Spices) in NSE-SME segment

HOAC Foods India IPO (Hariom Atta & Spices) had a strong listing on 24th May 2024, listing at ₹147 per share, a premium of 206.25% over the issue price of ₹48. Here is the pre-open price discovery for the HOAC Foods India IPO (Hariom Atta & Spices) on the NSE.

PRE-OPEN ORDER COLLECTION SUMMARY

Indicative Equilibrium Price (In ₹)

147.00

Indicative Equilibrium Quantity (Number of Shares)

2,46,000

Final Price (In ₹)

147.00

Final Quantity (Number of Shares)

2,46,000

Previous Close (Final IPO price)

₹48.00

Discovered Listing Price premium / discount to IPO Price (₹)

₹+99.00

Discovered Listing Price premium / discount to IPO Price (%)

+206.25%

Data Source: NSE

The SME IPO of HOAC Foods India (Hariom Atta & Spices) was a fixed price IPO with a price of ₹48 per share. Being a fixed price issue, there is no question of price discovery in this case. On 24th May 2024, the stock of HOAC Foods India (Hariom Atta & Spices) listed on the NSE SME segment at a price of ₹147.00 per share, a premium of 206.25% over the IPO issue price of ₹48. For the day, the upper circuit price has been set at ₹154.35 and the lower circuit price has been set at ₹139.65. As of 10.05 am, the volumes were 3.12 lakh shares while the turnover (value) was at ₹455 lakhs. The opening market cap of the stock stands at ₹53.67 crore. The stock will be traded in the ST segment of the NSE, which is for compulsory delivery only. At 10.04 am, the stock is trading below the listing price at ₹139.65, which is the lower circuit price. The stock of HOAC Foods India (Hariom Atta & Spices) has a face value if ₹10 per share and the market lot comprises of 3,000 shares.

HOAC Foods India (Hariom Atta & Spices) – About the IPO

The stock of HOAC Foods India (Hariom Atta & Spices) has a face value of ₹10 per share and it is a fixed price issue. The price for the fixed price issue is set at ₹48 per share. Being a fixed price issue, the question of price discovery does not arise. The IPO of HOAC Foods India (Hariom Atta & Spices) has only a fresh issue component and no OFS portion. While the fresh issue portion is EPS dilutive and equity dilutive, the OFS is just a transfer of ownership and  hence is not EPS or equity dilutive. As part of the fresh issue portion in the IPO, HOAC Foods India (Hariom Atta & Spices) will issue a total of 11,55,000 shares (11.55 lakh shares), which at the fixed IPO price of ₹48 per share aggregates to fresh fund raising of ₹5.54 crore. Since there is no offer for sale (OFS) portion, the fresh issue will also double up as the overall IPO size. Therefore, the overall IPO will also comprise of the issue of 11,55,000 shares (11.55 lakh shares) which at the fixed IPO price of ₹48 per share will aggregate to overall IPO size of ₹5.54 crore.

Read more about HOAC Foods India IPO.  

Like every SME IPO, this issue also has a market making portion with a market maker inventory allocation of 93,000 shares. Giriraj Stock Broking Private Ltd will be the market makers to the issue. The market maker provides two-way quotes to ensure liquidity on the counter and low basis costs, post listing. The promoter holding in the company currently stands at 99.99%. However, post the fresh issue of shares, promoter equity holding share will get diluted to 69.95%. The fresh issue funds will be used by the company for funding the working capital expenses. GYR Capital Advisors Private Ltd will be the lead manager to the issue, and KFIN Technologies Ltd will be the registrar to the issue. The market maker for the issue is Giriraj Stock Broking Private Ltd. The IPO of HOAC Foods India (Hariom Atta & Spices) will be listed on the SME IPO segment of the NSE.

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