Heranba Industries IPO: If you want to take advantage of the boom of the IPO market, then next week you have another investment opportunity. Heranba Industries, the leading company making crop protection chemicals, will launch its IPO on February 23. The IPO of Agro Chemical Company will be open for investment from February 23 to February 25. The price band for this IPO has been fixed at Rs 626-627 per share. The company plans to raise Rs 625 crore through this issue. For the IPO, the company has kept lot size of 23 shares.
60 crore fresh issue
There will be a fresh issue of 60 crores in this IPO. At the same time, the offer for sale of 90.15 lakh shares will be kept by the promoters. The company will use the money received from this issue to meet its working capital requirements. Sadashiv’s Shetty, Raghuram’s Shetty, Babu’s Shetty and Vitthal’s Bhandari are among the promoters of the company. As of February 10, his total stake in the company was 98.85 percent. Sadashiv’s Shetty will sell 58,50,000 shares and Raghuram’s Shetty 22,72,038 shares in the IPO. Sams Industries will sell 8,12,962 shares, Babu’s Shetty 40,000 shares and Vittala’s Bhandari 40,000 shares.
At least how much investment
The lot size is 23 shares in the IPO of Heranba Industries. While the price band is 626-627 rupees per share. In terms of the upper price band, at least Rs 14,421 will have to be invested in the company’s IPO. At the same time, you can bid for a maximum of 13 lots. The IPO will be listed on BSE and NSE. The probable date of listing is 5 March 2021.
What does the company do?
Heranba Industries is a Gujarat based agrochemical company that manufactures crop protection chemicals such as insecticides, fungicides, herbicides. The company is the leading domestic producer of synthetic pyrethroids. The company’s products are used in many countries. The company exports its products to more than 60 countries in Latin America, CES, Middle East, Africa, Asia and Southeast Asia. The company has more than 9400 dealers across its network. The company also has 21 storage centers.
8th IPO of the year
Please tell that this will be the 8th IPO of this year. Earlier, IPOs of IRFC, Indigo Paints, Home First Finance, Stove Croft, Brookfield India Reit, Nureca Limited and RailTel Corporation of India have been launched. Global Financial Services and Batliwala & Karani Securities are the book running lead managers to the issue.