The IPO of agrochemical agency Heranba Industries will open for subscription subsequent week. Heranba Industries is a Gujarat-based agrochemical firm.
The corporate goals to lift Rs 625 crore from capital markets via the problem which shall be a mixture of an Supply for Sale (OFS) by present shareholders and a recent problem of fairness shares.
Heranba Industries will be a part of friends similar to Rallis India, Dhanuka Agritech, Sumitomo Chemical India, and PI Industries, amongst others on the inventory exchanges.
The problem will open for subscription on February 23. It would shut on February 25.
Buyers can bid for the problem within the worth band of Rs 626-627 per share. Quite a bit will comprise 23 fairness shares and value Rs 14,421.
The corporate has reserved 50 per cent of the problem for Certified Institutional Patrons (QIB), 15 per cent for Non-Institutional Buyers (NII) and the remaining 35% is for retail traders.
Heranba Industries had filed its preliminary papers with SEBI in September final yr. It obtained the regulator’s commentary on November 27, an replace by the capital markets watchdog confirmed on Tuesday. SEBI’s commentary could be very essential for any firm to launch public points like preliminary public provide, follow-on public provides and rights problem.
The corporate is engaged within the enterprise of producing and advertising a spread of agrochemicals. Proceeds of the recent problem shall be used to fund working capital necessities, expenditures in the direction of common company functions, and meet public problem bills. Fairness shares of the corporate shall be listed on the BSE and the NSE.