HOAC Foods India Ltd., a prominent player in the food industry, has witnessed an unprecedented response to its Initial Public Offering (IPO), breaking subscription records.
The IPO, categorized under the SME segment, is a fixed price issue of Rs 5.54 crore. However, the demand far exceeded expectations, resulting in a staggering oversubscription of 2013.64 times, making it the most subscribed IPO ever.
The subscription frenzy surrounding HOAC Foods' IPO (Hariom Atta & Spices IPO) is part of a broader trend in the Indian market where SME IPOs are gaining traction as investors seek exposure to promising businesses with growth potential.
10 Most subscribed SME IPOs in India
Here's a breakdown of the top 10 most oversubscribed IPOs as per IPO tracking site Chittorgarh.
1. HOAC Foods India Limited
- Issue Size: Rs 5.54 crore
- Total subscription: 2013.64 times
- IPO Price: Rs 48
2. Kay Cee Energy & Infra Limited
- Issue Size: Rs 15.93 crore
- Total subscription: 1052.45 times
- IPO Price: Rs 54
3. Maxposure Limited
- Issue Size: Rs 20.26 crore
- Total subscription: 987.47 times
- IPO Price: Rs 33
4. Greenhitech Ventures Limited
- Issue Size: Rs 6.30 crore
- Total subscription: 769.95 times
- IPO Price: Rs 50
5. Trident Techlabs Limited
- Issue Size: Rs 16.03 crore
- Total subscription: 763.30 times
- IPO Price: Rs 35
6. Amkay Products Limited
- Issue Size: Rs 12.61 crore
- Total subscription: 748.03 times
- IPO Price: Rs 55
7. Koura Fine Diamond Jewelry Limited
- Issue Size: Rs 5.50 crore
- Total subscription: 733.01 times
- IPO Price: Rs 55
8. Kahan Packaging Limited
- Issue Size: Rs 5.76 crore
- Total subscription: 730.45 times
- IPO Price: Rs 80
9. Winsol Engineers Limited
- Issue Size: Rs 23.36 crore
- Total subscription: 682.14 times
- IPO Price: Rs 75
10. Slone Infosystems Limited
- Issue Size: Rs 11.06 crore
- Total subscription: 667.81 times
- IPO Price: Rs 79
*The above list represents data from 2007 till date.
In the SME space, three IPOs are expected to go for bidding in the next few days. GSM Foils Ltd.'s public offer will be open for subscription from May 24. The price band for the Rs 11.01 crore issue is set at Rs 32 per share with a lot size of 4,000 shares. GSM Foils manufactures blister foils and aluminium pharma foils used for packaging pharmaceutical medicines such as capsules and tablets.
Vilas Transcore Limited's public offer will be open for subscription from May 27. The price band for the Rs 95.26 crore issue is set at Rs 139 - Rs 147 per share with a lot size of 1,000 shares. Vilas Transcore manufactures and supplies power distribution and transmission components to transformer and other power equipment manufacturers in India and abroad.
Beacon Trusteeship Limited's public offer will be open for subscription from May 28. The price band for the Rs 32.52 crore issue is set at Rs 57 - Rs 60 per share with a lot size of 2,000 shares. Beacon Trusteeship is a SEBI-registered Debenture Trustee offering technology-enabled solutions.
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