HMA Agro shares hit upper circuit; company announces record date for stock split

Shares of HMA Agro Industries Ltd hit an upper circuit during the trading session on Tuesday after the company announced the record date for the purpose of the sub-division of equity shares. The company informed about the same through an exchange filing during the session.

The company has fixed Friday, December 29, 2023 as the record date for determining the eligibility of shareholders for the purpose of sub-division or stock-split of each equity shares, said the company in the exchange filing with the bourses.

HMA Agro had announced a stock split in a 1:10 ratio in September 2023, within a span of four months of listing at the bourses. Each share of the HMA Agro with a face value of Rs 10 shall be split into 10 equity shares with a face value of Re 1 each, which has been approved by the shareholders of the company.

Also read: HMA Agro announces stock split in four months post-listing

It means that investors holding shares of HMA Agro Industries as on the given record date (December 29, 2023) shall be considered eligible for the corporate action. The stock shall trade ex-split from Monday, January 1, 2024.

Following the announcement, shares of HMA Agro Industries hit an upper circuit of 10 per cent to Rs 687.10 on Tuesday, commanding a total market capitalization of close to Rs 3,450 crore. The scrip had settled at Rs 624.65 in the previous trading session on Monday.

HMA Agro raised Rs 480 crore from its primary stake sale, which was opened in June 2023. The company offered its shares for Rs 585 apiece and was listed on July 4, 2023. The stock has delivered a return of around 17 per cent from its issue price.

Agra-based HMA Agro Industries is a food trade organisation for handled food and agro products including frozen fresh deglanded buffalo meat, prepared/frozen natural products, vegetables, and cereals in India. Incorporated in 2008, HMA Agro is among the largest exporters of frozen buffalo meat products from India, which exports to more than 40 countries across the globe.

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