Heranba Industries is planning to promote shares within the value band of Rs 626-627 per share.
The Gujarat-based crop safety chemical producer Heranba Industries’ three-day share sale through preliminary public providing (IPO) will open on Tuesday, i.e. February 23 and shut on February 25. The corporate plans to lift Rs 625 crore through IPO by promoting shares within the value band of Rs 626-627 per share. Retail buyers can bid for Heranba Industries in lot dimension of 23 shares and a retail-individual investor can apply for as much as 13 heaps.
Heranba Industries IPO contains of supply on the market of Rs 565.2 crore and recent difficulty of Rs 60 crore. Proceeds from the recent difficulty will probably be used for working capital necessities and common company functions whereas firm is not going to obtain any proceeds from supply on the market, brokerage agency Anand rathi mentioned in a analysis report.
Heranba Industries shares will probably be listed on inventory exchanges on March 5.
Heranba Industries Firm Profile
The corporate is a crop safety chemical producer, exporter and advertising firm primarily based out of Vapi, Gujarat, with company and administration workplaces in Mumbai. It manufactures intermediates, technicals and formulations and is without doubt one of the main home producers of artificial pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrin and so forth. Its pesticides vary consists of pesticides, herbicides, fungicides and public well being merchandise for pest management.
Emkay World Monetary Providers and Batlivala & Karani Securities are the ebook working lead managers to the problem and Bigshare Providers is the registrar for the supply.
Must you spend money on Heranba Industries IPO
“Contemplating the corporate’s dominant place in pyrethroids market, sturdy stability sheet, excessive return on new value of 30.47 per cent as per monetary 12 months 2019-20 monetary statements, sturdy administration and cheap valuations; we give this IPO a “Subscribe” ranking”, Anad Rathi mentioned.
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