HOAC Foods lists at 206% premium on NSE SME

- Hariom Atta & Spices (HOAC Foods India) shares debuted at ₹147 on NSE SME, 206% premium over issue price of ₹48. - SME IPO, valued at ₹5.54 crore, saw remarkable subscription rate of 2,013.64x.

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- IPO was open for subscription from May 16 to May 21, 2024, priced at ₹48 per share. - It was solely fresh issue of 1,155,000 shares, aimed at raising funds for working capital & general corporate purposes.

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Retail investors showed significant interest, buying 58 times portion set aside for them. Qualified Institutional Buyers (QIBs) were also active, purchasing 57 times their allotted portion.

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- According to Chittorgarh, market capitalization of Hariom Atta & Spices IPO stands at ₹18.45 crore.

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- HOAC Foods specializes in flour (chakki atta), herbs & spices, unpolished pulses, grains, & mustard oil under “HARIOM” brand. - Products are marketed through Exclusive Brand Outlets in Delhi-NCR region, known for their freshness & purity without artificial preservatives.

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- Company sources raw materials from across India, ensuring organic & high-quality products. - This approach has helped HOAC Foods tap into niche market segment & build loyal customer base in Delhi-NCR.

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- HOAC Foods operates through network of 4 company-owned & 6 franchisee-owned Exclusive Brand Outlets. - Company focuses on maintaining product freshness & reducing waste.

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- For nine months ended December 31, 2023, HOAC Foods reported revenues of ₹1,148.59 lakhs & PAT of ₹74.50 lakhs. - For Fiscals 2023, 2022, & 2021, revenues were ₹1,208.56 lakhs, ₹1,087.27 lakhs, & ₹742.26 lakhs, respectively, with corresponding PATs of ₹58.79 lakhs, ₹27.33 lakhs, & ₹12.85 lakhs.

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- Dilip Davda from Chittorgarh notes that HOAC Foods operates in highly competitive & fragmented market. - Despite average financial performance, issue is fully priced, with longer gestation period expected for post-IPO growth. - Davda suggests moderate investment for well-informed or cash surplus investors for medium term.

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HOAC Foods lists at 206% premium on NSE SME

- Hariom Atta & Spices (HOAC Foods India) shares debuted at ₹147 on NSE SME, 206% premium over issue price of ₹48. - SME IPO, valued at ₹5.54 crore, saw remarkable subscription rate of 2,013.64x.

Strong Market Debut

- IPO was open for subscription from May 16 to May 21, 2024, priced at ₹48 per share. - It was solely fresh issue of 1,155,000 shares, aimed at raising funds for working capital & general corporate purposes.

IPO Details

Retail investors showed significant interest, buying 58 times portion set aside for them. Qualified Institutional Buyers (QIBs) were also active, purchasing 57 times their allotted portion.

Retail & QIB Participation

- According to Chittorgarh, market capitalization of Hariom Atta & Spices IPO stands at ₹18.45 crore.

Market Capitalization

- HOAC Foods specializes in flour (chakki atta), herbs & spices, unpolished pulses, grains, & mustard oil under “HARIOM” brand. - Products are marketed through Exclusive Brand Outlets in Delhi-NCR region, known for their freshness & purity without artificial preservatives.

Product Portfolio

- Company sources raw materials from across India, ensuring organic & high-quality products. - This approach has helped HOAC Foods tap into niche market segment & build loyal customer base in Delhi-NCR.

Business Model

- HOAC Foods operates through network of 4 company-owned & 6 franchisee-owned Exclusive Brand Outlets. - Company focuses on maintaining product freshness & reducing waste.

Distribution Network

Financial Performance

Analyst Insights

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