Heranba Industries Limited, a Gujarat-based agrochemical company, will open its initial public offering (IPO) on Tuesday, February 23, with a price band of ₹626-627 per share. The issue will close on February 25. Heranba industries, which has been one of the leading manufacturers of synthetic pyrethroids, manufactures intermediates, technicals and formulations, exports to more than 60 countries. It has three manufacturing plants which are located in Vapi, an industrial township in Gujarat.
1. The allotment size of the IPO has been fixed at 23 with the upper price band of ₹627. One lot will therefore cost ₹14,421 and retail investors can apply for a maximum of 13 lots.
2. The share allocation in the Heranba IPO is likely to be finalised on March 2 and the listing of the IPO may happen on March 5.
3. Emkay Global Financial Services Ltd and Batlivala and Karani Securities India are the book running lead managers to the IPO.
5. Through the IPO, Heranba is offering up to 99.8 lakh shares, with 90.2 lakh shares under offer for sale and the rest through fresh issue of shares.
6. Funds raised through the IPO will be utilised to finance the company’s working capital requirements and general corporate purposes.
7. In FY20, Heranba Industries recorded a turnover of ₹951 crore as compared to ₹745 crore in FY18. The overall profit of the company jumped to ₹97 crore in FY20.
8. Heranba Industries Limited has a share of 19.5% of the total Indian pyrethroids production values.
9. Investors can check for the subscription status of the IPO on the online portal of Bigshare Services, the registrar of the IPO: https://www.bigshareonline.com/BSSIPOApplicationStatus.aspx
10. After the IPO, the promoters and promoter group shareholding will come down to 74.15 per cent from 98.85 per cent and the public shareholding will rise to 25.85 per cent from 1.15 per cent.