HMA Agro Industries IPO Basis of Allotment

HMA AGRO INDUSTRIES LIMITED

Our Company was incorporated as "HMA Agro Industries Limited" on April 09, 2008 under the Companies Act 1956 with the Registrar of Companies, Uttar Pradesh and Uttranchal bearing registration number 034977. Our Company was granted its certificate for commencement of business on June 25, 2008 by the RoC. Further, object of our company was altered vide Special Resolution dated January 01, 2015 and August 29, 2016. The fresh certificate of incorporation was issued on January 19, 2015 and September 27, 2016. respectively by the Registrar of Companies, Kanpur. For further details, please refer to the chapter "History and Certain Corporate Matters" beginning on page no. 165 of the Prospectus.

Our Company has fled the Prospectus dated June 26, 2023with the Registrar of Companies. Kanpur ('RoC')and the Equity Shares are proposed to be Listed on the National Stock Exchange of India limited (NSE")and BSE Limited ("BSE" and together with NSE, the "Stock Exchanges") and trading is expected to commence on July 04, 2023.

INITIAL PUBLIC OFFERING OF 8,205.127 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH ("EQUITY SHARES") OF HMA AGRO INDUSTRIES LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF Rs. 585 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 575 PER EQUITY SHARE) (THE "OFFER PRICE") AGGREGATING TO Rs. 4,800 MILLION (THE "OFFER") COMPRISING OF A FRESH ISSUE OF 2.564.102 EQUITY SHARES AGGREGATING TO Rs. 1,500 MILLION (THE "FRESH ISSUE") AND AN OFFER FOR SALE Of 5,641,025 EQUITY SHARES AGGREGATING TO Rs. 3,300 MILLION (THE "OFFER FOR SALE"), COMPRISING AN OFFER FOR SALE OF 2,051.281 EQUITY SHARES AGGREGATING TO Rs. 1.200 MILUON BY WAJID AHMED, 837.607 EQUITY SHARES AGGREGATING TO Rs. 490 MILLION BY GULZAR AHMAD, 837,607 EQUITY SHARES AGGREGATING TO Rs. 490 MILLION BY MOHAMMAD MEHMOOD QURESHI. 837.607 EQUITY SHARES AGGREGATING TO Rs. 490 MILLION BY MOHAMMAD ASHRAF QURESHI. 837.607 EQUITY SHARES AGGREGATING TO 7490 MILLION BY ZULFIQUAR AHMED QURESHI, (COLLECTIVELY, THE "PROMOTER SELLING SHAREHOLDERS") AND 239,316 EQUITY SHARES AGGREGATING TO Rs. 140 MILLION BY PARVEZALAM, (THE "PROMOTER GROUP SELLING SHAREHOLDER") (THE PROMOTER SELLING SHAREHOLDERS AND THE PROMOTER GROUP SELLING SHAREHOLDER, COLLECTIVELY, THE "SB.UNG SHAREHOLDERS", AND SUCH EQUITY SHARES OFFERED BY THE SELLING SHAREHOLDERS, THE "OFFERED SHARES"). THE OFFER CONSTITUTES 16.39% OF THE FULLY DILUTED POST OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBIICDR Regulations and through the Book Building Process, wherein not more than 50% of the Offer were made available for allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs", the *QIB Portion'), provided that our Company and the Selling Shareholders may, in consultation with the BRLM, allocate 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor investor Allocation Price. In the event of under-subscription, or non-allocation In the Anchor Investor Portion, the balance Equity Shares was added to the Net QIB Portion. Further, 5% of the Net QIB Portion was made available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion was made available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds was less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion was added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not more than 15% of the Offer was made available for allocation to Non-Institutional Bidders out of which (a) one third of such portion was reserved for applicants with application size of more than two lakh rupees and up to ten lakh rupees; and (b) two third of such portion was reserved for applicants with application size of more than ten lakh rupees, provided that the unsubscribed portion in either of such sub-categories was allocated to applicants in the other sub-category of non-institutional investors in accordance to the ICDR Regulations, subject to the valid bids being received at or above the Offer Price. Further not less than 35% of the Offer was made available for allocation to Retail Individual Bidders ("RIBs") in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) were mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, as applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, please see "Offer Procedure' on page no. 338 of this Prospectus

Details of Anchor Investors: The Company received 7 Anchor Investor Bid Cum Application forms for 25,33,275 Equity Shares at 585. The Anchor subscribed by 1.03 times, the final allocation to Anchor Investors made for 24,61,537 Equity Shares at Rs. 585 per Equity share aggregating to Rs. 1,43,99,99,145.00.

The Offer received 62,768 banked applications for 1,23,26,750 Equity Shares (before technical rejections) resulting in 1.5 times subscription. The details of the banked applications received in the Offer from various categories are as under (before technical rejections)

Detail of the Applications Received

Final Demand

A summary of the final demand (banked) as per the BSE and the NSE as on the Bid/Issue Closing Date at different Bid prices is as under:

The Basis of Allotment w as finalized in consultation with the Designated Stock Exchange, being BSE Limited on June 28, 2023.

1) Allotment to Retail Individual Investors (including ASBA Applications but after technical rejections)

The Basis of Allotment to the Retail Individual Investors, who have Bid at Cut-off Price or at the Offer Price of Rs. 585 per Equity Share, w as finalized in consultation with BSE. The category has been subscribed to the extent of 0.9 6 times. The total number of Equity Shares Allotted in this category is 27,65,550 Equity Shares to 57,851 successful applicants. Unsubscribed portion of 1,06,245 Equity Snares spilled over to Nil 1(200,000 up to Rs. 1,000,000 ) and Nil 2 (More than Rs. 1,000,000 ) categories. The category-wise details of the Basis of Allotment are as under:

2) Allotment to Non Institutional Bidders (More than Rs. 200,000/- to Rs. 1,000,000/-) (including ASBA Applications but after technical rejections)

The Basis of Allotment to the Non-Institutional Bidders (More than Rs. 200,000 /- to Rs. 1,000,000 /-) who have bid at the Offer Price of Rs. 585 per Equity Share, w as finalized in consultation with the BSE. The category has been subscribed to the extent of 1.24 times. The total number of Equity Shares Allotted in this category is 4 ,45,672 Equity Shares to 164 successful applicants including spilled over of 35,415 Equity Shares from Retail category. The category-wise details of the Basis of Allotment are as under: (Sample)

3) Allotment to Non Institutional Bidders (more than Rs. 10,00,000) (including ASBA Applications but after technical rejections)

The Basis of Allotment to the Non-Institutional Bidders (More than Rs. 1,000,000 /-), who have bid at the Offer Price of Rs. 585 per Equity Share, w as finalized in consultation with the BSE. The category has been subscribed to The extent of 3.70 Times. The total number of Equity Shares Allotted in this category is 8,91,343 Equity Shares to 197successful applicants including spilled over of 70,830 Equity Shares from Retail category. The category-wise details of the Basis of Allotment areas under: (Sample)

4) Allotment to QIBs (after technical rejections)

The Basis of Allotment to the QIBs, who have bid at the Offer Price of Rs. 585 per Equity Share, w as finalized in consultation with the BSE. The category has been subscribed to the extent of 7.83 times. As per the SEBI Regulations 5% has been reserved for Mutual Funds subject to valid bids being received from them at or above the Offer Price and balance for QIBs other than Mutual Funds, since the offer has not received any bid in Mutual Fund category all the shares allotted in QIB category (excluding Anchor investor portion)..The total number of Equity Shares Allotted in this category is 16,41,025 Equity Shares to 5 successful applicants.

The Board of Directors of our Company at its meeting held on June 28, 2023 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued/mailed for unblocking of funds and transfer to the Public Offer Account on June

28, 2023 and the payments to non-syndicate brokers have been issued on June 28, 2023. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on June 30, 2023 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with BSE and NSE on June 30, 2023. Our Company is faking steps to get the Equity Shares admitted for trading on the BSE and NSE within 6 working days of the closure of the Offer and trading is expected to commence on July 04, 2023.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated June 2 6 ,2 0 2 3 filed with the Registrar of Companies, Kanpur ("RoC").

The details of the allotment made has been hosted on the website of the Registrar to the Offer, Bigshare Services Private Limited at Website: www.bigshareonline.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/Sole Bidder Serial number of the ASBA form, number of Equity Shares bid for, Bidder DP ID, Client ID, PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where the Bid cum Application Form w as submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below:

	BIGSHARE SERVICES PRIVATE LIMITED
	Office No. S6 -2, 6 th Floor, Pinnacle Business Park, Mahakali Caves Road,
	Next to Ahura Centre, Andheri (East), Mumbai, Maharashtra - 400093
	Tel: + 91-22-62638200; Email: ipo@bigshareonline.com; Website: www.bigshareonline.com
	Contact Person: Mr. Babu Raphael; SEBI Registration No.: INR000001385

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF HMA AGRO INDUSTRIES LIMITED.

HMA AGRO INDUSTRIES LIMITED has filed a Prospectus dated June 26, 2023 with the Registrar of Companies, Kanpur ("RoC") and thereafter with SEBI and the Stock Exchanges. The Prospectus shall be available on the website of the SEBI at www.sebi.gov.in, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com and the websites of the book running lead manager to the Offer, Aryaman Financial Services Limited at www.afsl.co.in. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see the Risk Factors on page 2 5 of the Prospectus. Potential investors should not rely on the DRHP filed with SEBI for any investment decision.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws in the United States, and unless so registered, and m ay not be offered or sold within the United Slates, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S and the applicable laws of each jurisdictions where such offers and sales are made. There will be no public offering of the Equity Shares in the United States.