HOAC Foods IPO: Issue Oversubscribed 19x on Day 1!

HOAC Foods IPO

HOAC Foods IPO opened for subscription on May 16 and will close on May 21.

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The IPO is a fixed price issue worth ₹5.54 crore, with a price band of ₹48 per share.

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The IPO consists of entirely fresh issue shares, totaling 11.55 lakh equity shares.

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Retail investors need a minimum investment of ₹144,000 to participate, with a lot size of 3,000 shares.

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Allotment of Hariom Atta & Spices IPO is expected on May 22, with listing on NSE SME tentatively on May 24.

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GYR Capital Advisors Pvt Ltd is the book running lead manager, and Kfin Technologies is the IPO registrar.

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HOAC Foods India manufactures flour, spices, and other food products, with 10 Exclusive Brand Outlets as of December 2023.

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Subscription status indicates heavy oversubscription, with 19.75 times subscription on May 16.

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Retail category subscription is at 34.29 times, and Non-Institutional Investors (NII) category is at 5.21 times.

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HOAC Foods IPO commands a strong premium in the grey market, with a grey market premium (GMP) of ₹80 per share, indicating a premium of 166.67% to the issue price.

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Swipe Up To Checkout More About Upcoming IPOs

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