Hariom Atta & Spices (HOAC Foods India) Makes Strong Market Debut with 206% Premium
Hariom Atta & Spices (HOAC Foods India) had a remarkable market debut today, with its shares opening at ₹147 each on NSE SME, indicating a premium of 206% over the issue price of ₹48. The SME IPO, valued at ₹5.54 crore, received an overwhelming response from investors, with a subscription rate of 2,013.64 times.
The company specializes in manufacturing a range of products, including flour, herbs & spices, pulses, grains, and mustard oil under the brand name “HARIOM.” Its products are known for their freshness and purity, as they are processed without artificial preservatives or chemicals.
Hariom Atta & Spices operates through an extensive franchise network, with 10 Exclusive Brand Outlets selling its products in and around Delhi-NCR. Despite operating in a competitive segment, the company has built a loyal customer base by focusing on high-quality natural products.
In terms of financial performance, the company reported revenues of ₹1,148.59 lakhs for the nine months ended December 31, 2023. Profit After Tax (PAT) for the same period was ₹74.50 lakhs. While the issue appears fully priced based on FY24 earnings, well-informed investors may consider investing for the medium term.
Overall, Hariom Atta & Spices’ strong market debut and focus on quality and purity in its products have positioned it well for future growth in the competitive food industry. Investors are advised to consult with experts before making any investment decisions.
