Hamps Bio share price hits 5% upper circuit despite stock market crash, trades 60.5% above IPO price

Hamps Bio share price: Continuing their winning run for the second trading session on Friday, January 3, shares of Hamps Bio, the recent debutant on Dalal Street, were locked in the 5% upper circuit limit at ₹81.86 apiece.

The company’s shares made a stellar stock market debut on December 20, listing at ₹96.9, a 90% premium over the issue price of ₹51. The stock extended its rally to end the first day with a gain of 99.5%, settling at ₹101.7 apiece.

Following this remarkable listing on exchanges, the stock witnessed some profit booking, leading to a decline in stock to ₹75 apiece. However, it recovered in the previous trading session and continued the upward momentum in today’s session as well.

At current levels, the stock is trading 60.5% higher than its IPO price. The issue, which opened for subscription between December 13 and December 17, received a robust response from investors, being subscribed 1,057 times. The company raised ₹6.22 crore through this issue by offering 12.22 lakh shares at ₹51 each.

Financial performance

In terms of financials, the company ended FY24 with a net profit of ₹50 lakh, a notable improvement compared to ₹36 lakh in FY23. Revenue for FY23 and FY24 stood at ₹5.58 crore and ₹6.48 crore, respectively.

About Hamps Bio

The company is engaged in the marketing and distribution of pharmaceutical formulation products across a wide range of dosages, including tablets, syrups, capsules, injectables, oil, gel, and powder, used as medicines and nutritional supplements. It also manufactures freeze-dried and frozen products (FDFP), such as fruits, vegetables, herbs, and flowers.

Hamps Bio sells its products through a network of more than 50 distributors as of March 31, 2024, and e-commerce platforms, including Amazon.com, Amazon.ca, Amazon.eu, Flipkart, and JioMart. Its pharma products are primarily sold in eight states and union territories in India, while its FDFP products are sold in four countries and 22 states and union territories, according to the company’s DRHP report.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.