Here’s price band, lot size and more

The Rs 625 crore preliminary public providing (IPO) of agrichemicals producer Heranba Industries will open on Tuesday, February 23, 2021, and will likely be obtainable for subscription until Thursday, February 25, 2021. The price band of the IPO has been fastened at Rs 626-627 per share of the face worth of Rs 10 every.

Heranba Industries is a Gujarat-based crop safety chemical compounds producer. It manufactures several types of pesticides together with pesticides, herbicides, fungicides, and plant development merchandise. Upon its itemizing, it would be a part of the Bharat Rasayan, Rallis India, Dhanuka Agritech, Punjab Chemical substances and Crop Safety and so on.

The IPO includes a proposal on the market (OFS) of as much as 90.15 lakh (90,15,000) fairness shares, as per the knowledge given within the pink herring prospectus. The corporate may elevate as much as Rs 625 crore.

Traders who want to subscribe to Heranba Industries’ IPO can bid within the lot of 23 fairness shares and multiples thereof. On the higher price band, they should shell out Rs 14,421 to get a single lot of Heranba. The shares will likely be listed on each BSE and the Nationwide Inventory Trade (NSE).

The online proceeds from the difficulty will likely be utilised to finance the corporate’s working capital necessities and normal company functions, the pink herring prospectus mentioned.

Forward of the general public provide, the anchor buyers’ portion will likely be obtainable on Monday, February 22, 2021.

Emkay International Monetary Providers and Batlivala & Karani Securities India are the guide working lead managers to the IPO whereas Bigshare Providers is the registrar of the difficulty.

Within the monetary 12 months 2019-20, Heranba Industries had a income of almost Rs 967.91 crore (Rs 9,67,90,60,000) and a revenue after tax of round Rs 97.75 crore (Rs 97,74,90,000), information from the prospectus confirmed.

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

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