Hoac Foods India Ltd IPO

Hoac Foods India Limited was originally incorporated with the name as Hoac MP Atta Spices Manufacture Private Limited' a private limited company on March 13, 2018 under the Companies Act, 2013, with Registrar of Companies, Delhi bearing registration number 330739. Thereafter, the company name was changed to `Hoac Foods India Private Limited' dated November 03, 2021. Subsequently, the Company was converted into a public limited company pursuant to a resolution passed by its Shareholders at an Extraordinary general meeting held on October 13, 2023 and consequently the name of the Company was changed to `Hoac Foods India Limited' and a fresh certificate of incorporation dated 30th October, 2023 was issued by the Registrar of Companies, Delhi at New Delhi.

The fast-moving consumer goods (FMCG) sector is India's fourth-largest sector and has been expanding at a healthy rate over the years as a result of rising disposable income, a rising youth population, and rising brand awareness among consumers. With household and personal care accounting for 50% of FMCG sales in India, the industry is an important contributor to India's GDP. India is a country that no FMCG player can afford to ignore due to its middle-class population which is larger than the total population of the USA. The Indian FMCG market continues to rise as more people start to move up the economic ladder and the benefits of economic progress become accessible to the general public. More crucially, with a median age of just 27, India's population is becoming more consumerist due to rising ambitions. This has been further aided by government initiatives to increase financial inclusion and establish social safety nets. Growing awareness, easier access, and changing lifestyles have been the key growth drivers for the sector. The urban segment (which accounts for a revenue share of around 55%) is the largest contributor to the overall revenue generated by the FMCG sector in India. However, in the last few years, the FMCG market has grown at a faster pace in rural India compared to urban India. Semi-urban and rural segments are growing at a rapid pace and FMCG products account for 50% of the total rural spending.