Well, the string of upcoming IPOs just doesn’t seem to end. Quick on the heels of RailTel and Nureca is another new IPO from Heranba Industries Ltd. Here are some important Heranba Industries Ltd IPO details that you should absolutely get to know.
About the company
Heranba Industries Ltd is one of India’s leading crop protection chemicals manufacturers based out of Gujarat. The company has been in existence since the year 1996 and produces various types of insecticides, fungicides, herbicides, and other chemicals used for pest control.
The entirety of the company’s products are produced in three manufacturing units; all of them situated in the state of Gujarat. In addition to these, Heranba Industries Ltd also possesses a Research and Development team that’s recognized by the Department of Scientific and Industrial Research (DSIR).
The company boasts of an unparalleled distribution network that covers both domestic and international markets. A full-fledged research facility in Sarigam is also likely to be commissioned by the company in the near future.
Heranba Industries Ltd IPO details
Now, let’s move on to the interesting part. Here are a few of the key details of the new IPO issue from the company such as the Heranba Industries Ltd IPO date and the Heranba Industries Ltd IPO share price.
Heranba Industries Ltd IPO date
The company has decided to set the opening and closing dates of its latest IPO as February 23, 2021 and February 25, 2021 respectively.
Heranba Industries Ltd IPO issue size
The issue size of the upcoming IPO from Heranba Industries Ltd consists of a fresh issue of shares as well as an Offer for Sale (OFS) from the promoters of the company. The company is likely to net around Rs. 60 crores from the fresh issue of shares, whereas around Rs. 565.24 crores would go to the promoters through the OFS route.
Heranba Industries Ltd IPO share price
According to the announcements made by the company, the share price band of its new IPO has been set at Rs. 626 to Rs. 627 per equity share. Since the face value of the shares are just Rs. 10 per share, around Rs. 616 to Rs. 617 per equity share would go to the company as share premium.
Heranba Industries Ltd IPO listing
As with all the other latest IPOs, the shares of Heranba Industries Ltd would also be listed on both the Bombay Stock Exchange and the National Stock Exchange.
Heranba Industries Ltd IPO objectives
The company has notified that the net proceeds from the issue would go towards meeting its working capital requirements and other general corporate purposes.
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