HOAC Foods India Soars 206% Above IPO Price in Stellar Market Debut!HOAC Foods India Soars 206% Above IPO Price in Stellar Market Debut!

HOAC Foods India had a stellar market debut on May 24, with shares of Hariom Atta & Spices listing at Rs 147 on the NSE SME platform. This opening price represents a remarkable 206% premium over the IPO issue price of Rs 48.

HOAC Foods India Limited IPO saw an overwhelming response on Day 3, being subscribed 1,834.01 times. This extraordinary level of interest demonstrates the market’s strong confidence and anticipation for the company’s growth prospects in the food industry.

HOAC Foods India Limited manufactures organic spices, flours, pulses, grains, and mustard oil under the “HARIOM” brand, ensuring freshness and quality without artificial preservatives for the Delhi-NCR markets. Offering 153 SKUs, including MP Sharbati Atta and Multi-grain Atta, they operate from Bhondsi Village, Gurugram, maintaining high product quality and nutritional value.

HOAC Foods India aims to utilise INR 3.5 crores from the IPO proceeds in FY 2025 for working capital, supplemented with borrowings and internal funds. Additional funds will support strategic initiatives, partnerships, brand building, and promotional activities for comprehensive growth.