FMCG Stock Declares 1st-Ever Stock Split After 5 Months of Listing: Do You Own?

HMA Agro Industries is a small-cap FMCG firm with a Rs 3,215 Cr market capitalization. The company which was listed on the stock exchanges on Tuesday, July 4, 2023 has declared the first-ever 1:10 stock split and for the purpose of the same record date has also been finalized.

The Board of Directors of the company at their meeting held today i.e., 12th day of December, 2023 said in a stock exchange filing that "We wish to inform you that pursuant to Regulation 42 of the SEBI (LODR) Regulations, 2015, the Board of Directors of the Company passed the Resolution at the Board Meeting held today, 12th December, 2023, and fixed the 'Record Date' i.e. 'Friday, December 29, 2023' for the purpose of sub-division /split of each equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into Ten (10) equity shares having face value of Rs. 1/- (Rupees One only) each fully paid-up."

The proposal to open a Demat (Dematerialized) account with IIFL Securities Limited under the brand of HMA Agro Industries Limited has been also considered by the Board with the aim of holding company securities electronically and dematerializing shares that are currently held in physical form by the company, its subsidiaries, and other firms.
"The Board considered and approved the proposal for opening of Current account of the company with State Bank of India, Sanjay Place Agra in the best interest of the company. The Board further took note of the sanction received from the bank along with the board resolution received from the bank," said HMA Agro Industries in a stock exchange filing.

"The Board considered the proposal for changing the name of the existing occupier of the factory located at 6/1, 15-16, Talaspur, Tehsil: Kaol, Mathura Bye Pass Road Aligarh, Uttar Pradesh-282007. Further, the Board recommended the name of Mr. Pawan Pandey, General Manager of the company to be the occupier of the above-mentioned plant/factory," HMA Agro Industries confirmed in a regulatory filing on Tuesday.

The board contemplated granting permission to the company's directors and secretary to execute and submit the required e-forms to the Registrar of Companies, Uttar Pradesh, situated in Kanpur.

On Tuesday, the shares of HMA Agro Industries were trading 3.56% higher at Rs 646.90 apiece level. The stock reached a 52-week-high of Rs 839.95 on (06/09/2023) and a 52-week-low of Rs 564.80 on (13/07/2023).

HMA Agro Industries IPO was a book-built issue of Rs 480.00 crores. The offering consisted of a new issuance of 0.26 crore shares, valued at Rs 150.00 crores, and an offer for sale (OFS) of 0.56 crore shares, valued at Rs 330.00 crores. The bidding for the HMA Agro Industries IPO began on June 20, 2023, and ended on June 23, 2023. HMA Agro Industries went public on Tuesday, July 4, 2023, on the BSE and NSE platforms. The IPO price band was established at Rs 555 to Rs 585 per share.