HMA Agro Industries IPO opens for subscription. Should you bid?

Indian exports giant HMA Agro Industries has begun its initial public offering (IPO) process, as retail investors have until 23 June to bid for shares between the price range of Rs555 ($7.48) and Rs585 ($7.89). The IPO will raise Rs480 crore ($65m). The company’s shares were trading at a premium of Rs28 in the unlisted market before the IPO began. The firm is also offering existing shareholders’ shares for sale for Rs330 crore. HMA Agro Industries is one of the largest exporters of frozen buffalo meat in India, with customers in over 40 countries.

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