NEW DELHI: The initial public offer (IPO) of Heranba Industries, a Gujarat-based agrochemicals company, will open for public bidding on February 23 and close on 25th. The company plans to raise Rs 625 crore from the primary market.
The company has set the price band in the range of Rs 626 to Rs 627. Bids can be made for a minimum of 23 equity shares and in multiples of 23 shares thereafter.
The offer comprises fresh issue of shares worth Rs 60 crore and an offer for sale of 90,15,000 shares comprising 58,50,000 shares by Sadashiv Shetty, 22,72,038 shares by Raghuram Shetty, 8,12,962 equity shares by Sams industries limited, 40,000 equity shares by Babu Shetty and 40,000 shares by Vittala Bhandary.