Stellar (XLM) Soars: HOAC Foods Lists at ₹147, Achieving a 206% Premium Over IPO Price

<ul>
  <li>Hariom Atta & Spices (HOAC Foods India) made a notable market debut today.</li>
  <li>The IPO received an exceptional response from investors, with a subscription rate of 2,013.64 times.</li>
  <li>According to Chittorgarh, the market capitalization of the Hariom Atta & Spices IPO is ₹18.45 crore.</li>
</ul>
<p><strong>Hariom Atta & Spices IPO makes a stellar debut with a 206% premium, reflecting strong investor confidence.</strong></p>
<h2><strong>Hariom Atta & Spices IPO: A Successful Market Debut</strong></h2>
<p>Hariom Atta & Spices (HOAC Foods India) made a remarkable entry into the stock market today, with its shares opening at ₹147 each on NSE SME. This opening price represents a premium of 206% over the issue price of ₹48, signaling robust investor confidence in the company's prospects.</p>
<h3><strong>IPO Details and Subscription Rates</strong></h3>
<p>The SME IPO, valued at ₹5.54 crore, was open for subscription from May 16 to May 21, 2024, at a price of ₹48 per share. The offering consisted solely of a fresh issue of 1,155,000 shares, with no offer-for-sale component. The IPO received an overwhelming response, with a subscription rate of 2,013.64 times, indicating strong demand from all investor categories.</p>
<h3><strong>Company Overview and Business Model</strong></h3>
<p>Hariom Atta & Spices specializes in manufacturing a variety of products, including flour (chakki atta), herbs & spices, unpolished pulses, grains, and yellow mustard oil. These products are marketed under the brand name "HARIOM" through Exclusive Brand Outlets in and around Delhi-NCR. The company sources raw materials from various parts of the country and processes them without artificial preservatives or chemicals, ensuring an organic product portfolio known for its freshness and purity.</p>
<h3><strong>Financial Performance and Future Outlook</strong></h3>
<p>In terms of financial performance, the company reported revenues from operations of ₹1,148.59 lakhs for the nine months ended December 31, 2023. For the financial years ending in Fiscals 2023, 2022, and 2021, revenues were ₹1,208.56 lakhs, ₹1,087.27 lakhs, and ₹742.26 lakhs, respectively. Profit After Tax (PAT) for the nine months ended December 31, 2023, and the financial years ending in Fiscals 2023, 2022, and 2021 amounted to ₹74.50 lakhs, ₹58.79 lakhs, ₹27.33 lakhs, and ₹12.85 lakhs, respectively.</p>
<h3><strong>Conclusion</strong></h3>
<p>Hariom Atta & Spices has made a significant impact with its market debut, reflecting strong investor confidence and a promising future outlook. The company's focus on high-quality, natural products and its strategic business model have positioned it well in a competitive market. Investors are advised to keep a close watch on the company's performance and consider it for medium to long-term investment.</p>
Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Dogecoin and Meme Coins See Decline in Market Influence as Fundamentals Gain Importance

The cryptocurrency market is experiencing a notable...

Bitcoin Price Dips 9% Amid Heavy Whale Accumulation and Trader Fatigue

The recent decline in Bitcoin...

Dogecoin, Shiba Inu, and Cardano Highlighted for Bullish Potential Amid Undervalued Crypto Market

The current crypto market is showing significant...

Dogecoin (DOGE) Dominates Meme Coin Market Amid Surge in Trading Volume

Meme coins have emerged as a highly...

Bitcoin Leads Profitability Among Top Cryptos While Pepe Stands Strong

The memecoin Pepe currently has 80% of...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Bitcoin Price Analysis: Bears Dominate as BTC Slides, Hedge Funds Reduce Exposure

Bitcoin prices are experiencing a decline, drifting...

Floki ($FLOKI) Poised for Strong Gains in 2024: An In-Depth Analysis

Cryptocurrency investors are continuously searching for lucrative...

Ethereum Price Analysis: ETH Eyes Break Above $3,650 for Potential Surge to $4,000

Ethereum's price saw notable oscillations...
Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
spot_imgspot_imgspot_imgspot_img

Salesforce (CRM) Shares Plunge 20% on Weak Earnings Forecast, Impacting US Stock Markets

Salesforce Inc. shares tumbled about 20 per cent on Thursday after the company posted weaker revenue than Wall Street estimates for the...

EU Wheat Crop Forecast for 2024/25 Hits 4-Year Low, Stockpiles Expected to Rise

The European Commission has maintained its forecast for the EU's main wheat crop in 2024/25 at a four-year low. ...

2024 IPO Surge: 57% of SME Issues Achieve Over 100% Subscription Rate

The enthusiasm for initial public offerings (IPOs) shows no signs of diminishing, as retail investor participation has increased substantially in recent years. ...