The Gujarat-based crop safety chemical producer Heranba Industries’ three-day share sale by way of preliminary public providing (IPO) will open on Tuesday, i.e. February 23 and shut on February 25. The firm plans to lift Rs 625 crore by way of IPO by promoting shares within the value band of Rs 626-627 per share. Retail traders can bid for Heranba Industries in lot measurement of 23 shares and a retail-individual investor can apply for as much as 13 heaps.
Heranba Industries IPO contains of provide on the market of Rs 565.2 crore and recent subject of Rs 60 crore. Proceeds from the recent subject shall be used for working capital necessities and normal company functions whereas firm won’t obtain any proceeds from provide on the market, brokerage agency Anand rathi mentioned in a analysis report.
Heranba Industries shares shall be listed on inventory exchanges on March 5.
Heranba Industries Company Profile
The firm is a crop safety chemical producer, exporter and advertising and marketing firm based mostly out of Vapi, Gujarat, with company and administration workplaces in Mumbai. It manufactures intermediates, technicals and formulations and is likely one of the main home producers of artificial pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrin and many others. Its pesticides vary contains pesticides, herbicides, fungicides and public well being merchandise for pest management.
Emkay Global Financial Services and Batlivala & Karani Securities are the guide operating lead managers to the problem and Bigshare Services is the registrar for the provide.
Should you put money into Heranba Industries IPO
“Considering the company’s dominant position in pyrethroids market, strong balance sheet, high return on new worth of 30.47 per cent as per financial year 2019-20 financial statements, strong management and reasonable valuations; we give this IPO a “Subscribe” rating”, Anad Rathi mentioned.