The Rs 625 crore preliminary public providing (IPO) of agrichemicals producer Heranba Industries will open on Tuesday, February 23, 2021, and will likely be out there for subscription until Thursday, February 25, 2021. The value band of the IPO has been fastened at Rs 626-627 per share of the face worth of Rs 10 every.
Heranba Industries is a Gujarat-based crop safety chemical compounds producer. It manufactures various kinds of pesticides together with pesticides, herbicides, fungicides, and plant progress merchandise. Upon its itemizing, it would be a part of the Bharat Rasayan, Rallis India, Dhanuka Agritech, Punjab Chemicals and Crop Protection and so forth.
The IPO contains a proposal on the market (OFS) of as much as 90.15 lakh (90,15,000) fairness shares, as per the data given within the purple herring prospectus. The firm may elevate as much as Rs 625 crore.
Investors who want to subscribe to Heranba Industries’ IPO can bid within the lot of 23 fairness shares and multiples thereof. At the higher value band, they should shell out Rs 14,421 to get a single lot of Heranba. The shares will likely be listed on each BSE and the National Stock Exchange (NSE).
The web proceeds from the difficulty will likely be utilised to finance the corporate’s working capital necessities and basic company functions, the purple herring prospectus stated.
Ahead of the general public provide, the anchor buyers’ portion will likely be out there on Monday, February 22, 2021.
Emkay Global Financial Services and Batlivala & Karani Securities India are the guide working lead managers to the IPO whereas Bigshare Services is the registrar of the difficulty.
In the monetary yr 2019-20, Heranba Industries had a income of practically Rs 967.91 crore (Rs 9,67,90,60,000) and a revenue after tax of round Rs 97.75 crore (Rs 97,74,90,000), information from the prospectus confirmed.
The firm exports its merchandise to greater than 60 international locations on the earth.