Heranba Industries Ltd IPO: Gujarat-based agrochemical company, Heranba Industries hit the market on Tuesday IPO will open on February 23 and closes on February 25 the company has fixed a price band of ₹626-627 per share.
Heranba Industries is one of the leading manufacturers of synthetic pyrethroids in India, The company manufactures intermediates, technicals and formulations and is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permethrin, lambda cyhalothrin etc. Heranba is a crop protection, chemical manufacturer, exporter and marketing company. Heranba Industries export its products to more than 60 countries. The company has three manufacturing plants and has over 9,400 dealers.
Heranba Industries has raised Rs 187.51 crore by allotting 29.91 lakh shares to 18 anchor investors on Monday, a day prior to its issue opening for public bidding.
Government Pension Fund Global has been allotted a major chunk of 18.67% of the anchor allotment while HDFC Mutual Fund subscribed about 12%. Other anchor investors include Society Générale, Morgan Stanley, Jupiter India Fund, Max Life Insurance, IIFL Special Opportunity Fund, IDFC Mutual Fund, Dovetail India Fund among others.
Heranba Industries IPO of a fresh issue of Rs 60 crore, an offer for sale of 90,15,000 equity shares by promoters. The net fresh issue proceeds will be utilised for working capital requirements.
Heranba Industries Ltd IPO Details
Check here details of Heranba Industries IPO date, IPO offer price, lot size, subscription, allotment and listings date, grey market price, and other details like the company’s background, and more.
| Heranba Industries IPO Details | Dates & Details |
|---|---|
| Issue Opens on | February 23, 2021 |
| Issue Closes on | February 25, 2021 |
| Issue Price | Rs.626 to Rs.627 per equity share |
| Face Value | Rs.10 |
| Retail Allocation | 35% |
| Minimum Lot Size | 23 shares |
| Maximum Lot Size | 299 shares |
| Minimum Investment | Rs. 14,421 |
| Maximum Investment | Rs. 187473 |
| Issue Constitutes | 16.50% |
| Issue Size | Rs. 625.24 Crore |
| Listing at | BSE & NSE |
| Equity Shares Offered (Fresh) | ₹ 60 crore |
| Equity Shares Offered (OFS) | 9,015,000 equity shares |
Heranba Industries opens its Rs 625-crore initial public offering for subscription on February 23, which will close on February 25 with a price band of Rs 626-627 per share.
Emkay Global Financial Services Ltd and Batlivala and Karani Securities India are the book running lead managers to the IPO.
Bigshare Services Pvt Ltd is the registrar of the IPO and will manage share allocation and refund.
The lot size in Heranba IPO has been fixed at 23. At the upper price band of ₹627, one lot will cost ₹14,421 and retail investors can apply a maximum of 13 lots.
Heranba Industries Limited IPO Tentative Timetable
| Bid/Offer Launch date | February 23, 2021 |
| Bid/Offer Last date | February 25, 2021 |
| Basis of Allotment finalization date | March 02, 2021 |
| Initiation of Refunds | March 03, 2021 |
| Credit of Shares to Demat Acct | March 04, 2021 |
| IPO Shares Listing Date | March 05, 2021 |
