The eighth IPO of 2021, after IRFC, Indigo Paints, Brookfield REIT IPO, RailTel, and Nureca, opens on February 23 for Rs 625 crores. For interested investors, the Heranba Industries IPO bidding window will remain open for two days until February 25.
Here are all the key facts to learn before you invest in Heranba IPO.
- Heranba Industries IPO opens on February 23 and closes on February 25, 2021
- The public issue size of Rs 625 crores comprises fresh shares worth Rs 60 crores and OFS of 90.15 lakh equity shares
- The OFS shares contain 25 percent equity shares from promoters who are currently holding 98.85 percent shares in the company
- Per Heranba IPO news available in different sources the shares will launch in the fixed price band of Rs 626-627
- Heranba targets to raise Rs 180.27 crores from anchor investors by selling 30,04,500 equity shares
- Half of the issue size is reserved for QIB investors; remaining is available for HN1 investors and retail investors in the ratio of 15:35
- Investors need to bid for a minimum lot size of 23 shares and increase their bid size up to 13 lots or 299 shares
- Heranba IPO’s finalisation of allotment to happen on March 2, 2021, and the shares will list on March 5, 2021
- The company appointed Emkay Global Financial Services and Batlivala & Karani Securities India as book-leading managers
- The IPO will open on both BE and NSE
- The company proposes to use the proceeds from the fresh issues to meet working capital requirements and general corporate expenditures
About The Company And Its Financials
The company is an agrochemical company started in the year 1996.
Heranba Industries Ltd. is a leader in the sector based in Gujarat. The company produces a range of products under crop protection and public healthcare categories and a leading domestic producer of synthetic pyrethroids varieties. It has three manufacturing units and an internal R&D unit in Vapi, where it produces intermediates, technical, and formulations.
Heranba enjoys pan India market through a strong network of 8,600 distributors and exports its products to more than 60 countries globally. In the quarter ending in September 2020, the company recorded a PTA of Rs 663.11 millions.
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