HMA Agro Industries IPO to open on June 20; price band fixed

HMA Agro Industries’ initial public offering (IPO) worth INR 480 crore ($63.5m) will be open for public subscription from 20-23 June with a price band of INR 555-585 per share. The IPO includes an offer for sale of INR 330 crore by promoters and selling shareholders. Aryaman Financial Services is the book-running lead manager to the issue and Bigshare Services is the registrar. HMA Agro Industries proposes to utilise the net proceeds of the fresh issue for working capital requirements and general corporate purposes.

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