HOAC Foods Debuts Strongly on Market with 206% Premium Listing

HOAC Foods India made a stellar market debut. Shares opened at ₹147, marking a 206% premium over the issue price of ₹48 on NSE SME.

The IPO received massive interest, with a subscription rate of 2,013.64 times. It raised ₹5.54 crore from the issue, which was open from May 16 to May 21, 2024.

HOAC Foods operates 10 Exclusive Brand Outlets, with 4 company-owned and 6 franchisee-owned stores. They specialize in natural products like flour, spices, pulses, grains, and mustard oil.

The company focuses on organic, preservative-free products, sourced from across India. This strategy helps maintain freshness and quality, targeting the niche market in Delhi-NCR.

Financially, HOAC Foods reported revenues of ₹1,148.59 lakhs for the nine months ending December 2023. The IPO proceeds will be used for working capital and general purposes.

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