INSUBCONTINENT EXCLUSIVE:
Heranba Industries raised Rs 625 crore through IPO.Heranba Industries made an outstanding stock market launching on exchanges on Friday
Heranba Industries shares opened for trading at Rs 900 on the BSE compared to its problem cost of Rs 627 marking a gain of 44 per cent over
the cost at which shares were offered in the initial public offering (IPO)
On the National Stock market also Heranba Industries signed up a listing gain of 44 per cent
The stock increased as much as 51 percent from the concern price to hit an intraday high of Rs 945
Heranba Industries shares remained in huge demand throughout the three-day share sale through IPO between February 23-25
The IPO was subscribed over 83 times, information from the National Stock market showed.The company raised Rs 625 crore by means of IPO by
offering shares in the rate band of Rs 626-627 per share.Heranba Industries IPO consisted of an offer for sale of Rs 565.2 crore and fresh
Proceeds from the fresh problem will be utilized for working capital requirements and general corporate functions while the business did not
receive any proceeds from the offer for sale.Heranba Industries is a crop protection chemical maker, exporter and marketing business based
out of Vapi, Gujarat, with corporate and administration workplaces in Mumbai
It manufactures intermediates, technicals and solutions and is among the leading domestic producers of artificial pyrethroids like
cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrin etc
Its pesticides range includes insecticides, herbicides, fungicides and public health items for pest control.Emkay Global Financial Solutions
and Batlivala - Karani Securities were the book running lead supervisors to the issue and Bigshare Providers is the registrar for the
offer.As of 10:06 am, Heranba Industries shares traded at Rs 919, up 1.6 percent from the opening price of Rs 900 and up 47 percent from the
