HMA Agro Industries floated its IPO in June this year. The Rs 480-cr IPO of was subscribed 1.62 times. Its shares made a positive market debut, listing with a premium of nearly 7 per cent.
Share Market News: HMA Agro Industries Stock Split: Shares of HMA Agro Industries Ltd registered a jump of around 10 per cent on Tuesday to hit its upper price band of Rs 687.10. The counter had closed at Rs 624.65 in the last trading session. The price of the stock surged after it announced the record date for the sub-division of equity shares.
HMA Agro: Record Date for sub-division/split of equity shares
The company in an exchange filing said that it has fixed December 29, 2023 as the record date for determining the eligibility of shareholders for the purpose of the corporate action.
“The Company passed the Resolution at the Board Meeting held today, 12th December, 2023, and fixed the ‘Record Date’ i.e. ‘Friday, December 29, 2023’ for the purpose of sub-division /split of each equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into Ten (10) equity shares having face value of Rs. 1/- (Rupees One only) each fully paid-up,” the exchange filing reads.
he stock split is done to increase liquidity and to make shares affordable for various investors who could not buy the shares of that company before due to high prices. The current market price of HMA Agro Industries shares is Rs 664.95.
HMA Agro Industries floated its IPO in June this year. The Rs 480-cr IPO of was subscribed 1.62 times. Its shares made a positive market debut, listing with a premium of nearly 7 per cent.
HMA Agro Industries is a leading exporter of frozen buffalo meat in India. The company exports its products to more than 40 countries. The company is a government-recognised exporter of buffalo meat.