Heranba Industries Rs 625 Crore IPO To Open On Tuesday (February 23) IPO Price, Heranba Industries IPO Dates, Heranba Industries Listing Date and Heranba Industries IPO Details Heres
[ad_1]
Heranba Industries is planning to sell shares in the price band of Rs 626-627 per share.
The Gujarat-based crop protection chemical manufacturer Heranba Industries’ three-day share sale via initial public offering (IPO) will open on Tuesday, i.e. February 23 and close on February 25. The company plans to raise Rs 625 crore via IPO by selling shares in the price band of Rs 626-627 per share. Retail investors can bid for Heranba Industries in lot size of 23 shares and a retail-individual investor can apply for up to 13 lots.
Heranba Industries IPO comprises of offer for sale of Rs 565.2 crore and fresh issue of Rs 60 crore. Proceeds from the fresh issue will be used for working capital requirements and general corporate purposes while company will not receive any proceeds from offer for sale, brokerage firm Anand rathi said in a research report.
Heranba Industries shares will be listed on stock exchanges on March 5.
Heranba Industries Company Profile
The company is a crop protection chemical manufacturer, exporter and marketing company based out of Vapi, Gujarat, with corporate and administration offices in Mumbai. It manufactures intermediates, technicals and formulations and is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrin etc. Its pesticides range includes insecticides, herbicides, fungicides and public health products for pest control.
Emkay Global Financial Services and Batlivala & Karani Securities are the book running lead managers to the issue and Bigshare Services is the registrar for the offer.
Should you invest in Heranba Industries IPO
“Considering the company’s dominant position in pyrethroids market, strong balance sheet, high return on new worth of 30.47 per cent as per financial year 2019-20 financial statements, strong management and reasonable valuations; we give this IPO a “Subscribe” rating”, Anad Rathi said.
[ad_2]
Source link
