Heranba Industries IPO to open on Feb 23: Check price band, lot size & other details
The basis of share allotment is expected to be finalised on March 2 and shares are likely to be credited to Demat account on March 4. The equity shares are proposed to be listed on BSE and National Stock Exchange
BusinessToday.In | February 19, 2021 | Updated 16:31 IST
The shares were trading at Rs 827 in the grey market, quoting a premium of Rs 200 or 32% over the IPO price of Rs 627 apiece
The Rs 625-crore initial public offering (IPO) of Heranba Industries will open for subscription between Tuesday, February 23, 2021, to Thursday, February 25, 2021. The subscription for anchor investors will open on Monday, February 22, 2021, ahead of the public issue.
NEW DELHI: The initial public offer (IPO) of Heranba Industries will open for subscription on Tuesday, during which the company will seek to raise Rs 625 crore from primary markets.
The issue mostly comprises share sale by promoters and shareholders but the company will also issue fresh shares. The company plans to use the proceeds from the share sale to fund working capital requirements and for general corporate purposes.
Here are key things to know about the issue:
Heranba Industries IPO will open for subscription on Tuesday, February 23 and will close on Thursday, February 25.
What is the price band for fixed?
Heranba Industries is planning to sell shares in the price band of Rs 626-627 per share.
The Gujarat-based crop protection chemical manufacturer Heranba Industries three-day share sale via initial public offering (IPO) will open on Tuesday, i.e. February 23 and close on February 25. The company plans to raise Rs 625 crore via IPO by selling shares in the price band of Rs 626-627 per share. Retail investors can bid for Heranba Industries in lot size of 23 shares and a retail-individual investor can apply for up to 13 lots.
Heranba Industries IPO comprises of offer for sale of Rs 565.2 crore and fresh issue of Rs 60 crore. Proceeds from the fresh issue will be used for working capital requirements and general corporate purposes while company will not receive any proceeds from offer for sale, brokerage firm Anand rathi said in a research report.
Heranba Industries to raise Rs 625 crore via IPO; price band fixed at Rs 626-627
The issue comprises of a fresh issue of Rs 60 crore and an offer for sale of 90.15 lakh equity shares by promoters. Heranba will utilise net fresh issue proceeds for working capital requirements. February 16, 2021 / 08:01 AM IST
Crop protection chemical manufacturer Heranba Industries is set to launch its Rs 625-crore initial public offering on February 23 at a price band of Rs 626-627. The offer will close on February 25.
The issue comprises of a fresh issue of Rs 60 crore and an offer for sale of 90.15 lakh equity shares by promoters. Heranba will utilise net fresh issue proceeds for working capital requirements.