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

  <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>
<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>
<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>
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Gideon Wolf
Gideon Wolf
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.

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