HMA Agro Industries shares list at 6% premium over IPO price

HMA Agro Industries, a major player in the export of packaged frozen buffalo meat, saw its shares listed at a premium on the NSE and BSE, with a strong response from non-institutional investors and qualified institutional buyers during its IPO. Despite subdued interest from retail investors, the IPO was fully subscribed. The company plans to use the proceeds to fund working capital requirements and for general corporate purposes. HMA Agro is also diversifying into other food processing and export products, such as frozen fish and basmati rice.