If you’re considering investing in an IPO, an excellent opportunity awaits you this week. Hariom Flour and Spices IPO is set to open for investment from May 16th.
This IPO has garnered strong demand in the gray market, with shares trading at over a 100% premium.
Investors have until May 21st to invest in the NSE SME IPO at a price band of ₹48.
Details of Hariom Flour & Spices IPO
Hariom Flour & Spices is making history as the first NSE SME IPO to raise ₹5.54 crore. The IPO’s price band is set at ₹48, with a market lot of 3000 shares.
Currently, the company’s shares are commanding a premium of ₹50 in the gray market, indicating a potential profit of up to 105% upon listing, with a projected listing price of Rs 98.
Understanding the Company’s Business
HOAC Foods India Limited, operating as Hariom Flour & Spices, specializes in manufacturing and marketing a diverse range of products, including Flour (Chakki Atta), Herbs & Spices, Unpolished Pulses, Cereals, and Yellow Mustard Oil.
Its products are primarily distributed in the Delhi-NCR region under the brand name “Hariom,” sold through exclusive brand outlets.
Currently, the majority of the company’s products are sold within the Delhi-NCR region.
Its franchise network comprises 4 company-owned outlets and 6 franchisee-owned outlets, totaling 10 exclusive brand outlets.
Until December 31, 2023, the company exclusively sold and marketed its own bran
