February 22, 2021 / 09: 50 PM IST
Gash security chemical manufacturer Heranba Industries on February 22 garnered Rs 187.50 crore from 18 anchor investors sooner than its intial public offering (IPO).
The firm in consultation with merchant bankers finalised allocation of 29,90,520 fairness shares to anchor investors at Rs 627 per portion, the elevated close of ticket band.
The marquee anchor investors incorporated Government Pension Fund World, Jupiter India, Harmony MK Handiest Options Sub-Have faith, Dovetail India Fund, Societe Generale and Morgan Stanley.
On the domestic front, HDFC Trustee Company, Max Lifestyles Insurance coverage Company, IIFL Particular Alternatives Fund and Emkay Emerging Stars Fund got shares within the anchor e book.
The agrochemical firm will birth its Rs 625-crore IPO for subscription on February 23 and the an identical will shut on February 25. The ticket band for the peril has been mounted at Rs 626-627 per portion.
The peril contains a recent peril of Rs 60 crore and an offer on the market (OFS) of Rs 565.2 crore by promoters. The offer on the market of 90,15,000 fairness shares contains 58,50,000 fairness shares by Sadashiv Okay Shetty, 22,72,038 fairness shares by Raghuram Okay Shetty, 8,12,962 shares by SAMS Industries, 40,000 shares by Babu Okay Shetty, 40,000 shares by Vittala Okay Bhandary.
Heranba Industries IPO: 10 issues to know earlier than subscribing the peril
The firm will utilise catch recent peril proceeds for working capital requirements.
Included in 1992, Heranba Industries is an agrochemical firm. Additionally it is definitely one of the most leading domestic producers of synthetic pyrethroids. The firm is newest in your complete product price chain of the agrochemicals industry.
Its industry verticals embrace a) domestic bulk gross sales of Technicals (31.6 percent of FY20 gross sales), b) Technicals bulk exports (36.5 percent), c) branded formulations (12.7 percent), d) formulations exports (12.8 percent), and e) insect adjust chemical compounds (6.4 percent).
Heranba is definitely one of the most leading domestic producers of pyrethroids (round 68 percent of FY20 revenues and 19.5 percent domestic market portion in 2019). It has extra than 9,400 dealers having gather entry to to extra than one states in India. It has three manufacturing facilities in and round Vapi with a skill of 14,024 MTPA.
