Hemani Industries IPO: Under this IPO, fresh shares up to Rs 500 crore will be issued.
Hemani Industries IPO: Hemani Industries Limited, a company that makes agrochemical and specialty chemicals, is going to bring its IPO. The company has filed a draft paper with the market regulator SEBI for this. The company wants to raise Rs 2,000 crore through this IPO. Under this IPO, fresh shares up to Rs 500 crore will be issued. At the same time, equity shares up to Rs 1,500 crore will be sold by its promoters under Offer for Sale (OFS).
HMA Agro will bring 480 crore IPO, documents filed with SEBI
IPO related details
As per the Draft Red Herring Prospectus (DRHP), shares worth up to Rs 500 crore each will be sold by Jayesh Mohan Dama, Mohan Sundarji Dama and Minal Mohan Dama as part of the OFS. The company may consider pre-IPO placements up to Rs 100 crore.
Fund will be used here
Out of this, an amount of Rs 129.71 crore will be used by the company for capacity expansion in Saikha Industrial Estate. Of the amount raised from the IPO, Rs 48.34 crore will be used for full or partial repayment of debt. Apart from this, an amount of Rs 93.87 crore will be used to invest in its wholly-owned subsidiary HCCPL or pay some of its debt. An amount of Rs 150 crore will be spent on the long term working capital requirements of the company. The proceeds are also to be used for general corporate purposes.
Defense Stocks: With the indigenous theme of the government, the brightness of these defense stocks will increase, will give security to the portfolio, as well as earn money
Know about the company
This Gujarat-based company gets 60-70 percent of its revenue from exports. The company has presence in countries like Asia Pacific, Latin America, USA, Russia, Africa and Australia. For the financial year ended March 31, 2021, the company made a profit of Rs 170.30 crore after tax while the total revenue stood at Rs 1,148.31 crore. JM Financial and Kotak Mahindra Capital are the Book Running Lead Managers for the IPO.
(Input-PTI)
,