Heranba Industries IPO to launch on Feb 23: Right here’s designate band, lot dimension and extra

A farmer spraying pesticide at a castor oil seeds farm within the outskirts of Ahmedabad. (Explicit characterize by Nirmal Harindran)

The Rs 625 crore initial public providing (IPO) of agrichemicals producer Heranba Industries will launch on Tuesday, February 23, 2021, and would possibly perchance presumably merely accrued be on hand for subscription till Thursday, February 25, 2021. The cost band of the IPO has been mounted at Rs 626-627 per share of the face designate of Rs 10 every.

Heranba Industries is a Gujarat-basically based nick protection chemical substances producer. It manufactures assorted sorts of pesticides including insecticides, herbicides, fungicides, and plant boost merchandise. Upon its itemizing, this would perchance presumably merely be a part of the Bharat Rasayan, Rallis India, Dhanuka Agritech, Punjab Chemical substances and Sever Protection and loads others.

The IPO contains an provide within the marketplace (OFS) of up to 90.15 lakh (90,15,000) equity shares, as per the tips given within the crimson herring prospectus. The corporate would possibly perchance presumably develop up to Rs 625 crore.

Investors who preserve to subscribe to Heranba Industries’ IPO can order within the lot of 23 equity shares and multiples thereof. At the upper designate band, they will prefer to shell out Rs 14,421 to salvage a single lot of Heranba. The shares shall be listed on both BSE and the Nationwide Stock Alternate (NSE).

The accumulate proceeds from the challenge shall be utilised to finance the corporate’s working capital requirements and general corporate functions, the crimson herring prospectus acknowledged.

Ahead of the general public provide, the anchor traders’ share shall be on hand on Monday, February 22, 2021.

Emkay World Financial Products and services and Batlivala & Karani Securities India are the book working lead managers to the IPO whereas Bigshare Products and services is the registrar of the challenge.

In the monetary year 2019-20, Heranba Industries had a earnings of nearly Rs 967.91 crore (Rs 9,67,90,60,000) and a earnings after tax of around Rs 97.75 crore (Rs 97,74,90,000), files from the prospectus confirmed.

The corporate exports its merchandise to extra than 60 nations on this planet.

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