Heranba Industries IPO – Review, Price, Allotment, Subscription & DRHP
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Heranba Industries IPO release date, IPO offer price, subscription, Heranba Industries Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 626 – 627 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 23 shares |
| Listing Date | Mar 5, 2021 |
| Offer for Sale | 9,015,000 Shares |
| Fresh Issue | Rs 600 MILLION |
| IPO Size | Rs 6252.4 MILLION |
| Tick Size | Rs. 1 |
Heranba Industries IPO is listed at [●] premium. Check out the live share price by clicking on the below link.
Summary of Heranba Industries Limited IPO
Heranba Industries Limited is engaged in the business of manufacturing and marketing a range of agrochemicals. They have a pan-India presence, with integrated operations across research and development, manufacturing, marketing and distribution of a wide range of crop protection chemicals, public health and Animal Health solutions.
The Promoter of this company is Sadashiv K. Shetty and Raghuram K. Shetty. The lead manager to the issue is Emkay Global Financial Services Limited, Batlivala & Karani Securities India Private Limited and the Registrar to this issue is Bigshare Services Private Limited.
Heranba Industries IPO Date
The opening and the closing date of Heranba Industries Limited IPO is Feb 23, 2021 and Feb 25, 2021.
Heranba Industries IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – Feb 23 | 0.00x | 0.09x | 1.65x | 0.84x |
| 2nd Day – Feb 24 | 1.01x | 0.86x | 4.53x | 2.74x |
| 3rd Day – Feb 25 | 67.45x | 271.15x | 11.84x | 83.29x |
| Shares Offered or Net Issue | 1,995,448 | 1,495,791 | 3,490,178 | 6,981,417 |
The shares subscribed by the public will be updated here.
Heranba Industries IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.
Heranba Industries Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing and more:
| Basis of Allotment Finalization | Mar 2, 2021 |
| Refunds Initiation | Mar 3, 2021 |
| Credit of Shares to Demat Account | Mar 4, 2021 |
| Share Listing Date | Mar 5, 2021 |
Heranba Industries IPO Price Band / Cash Price
The face value of each share is Rs 10, but the price band of the IPO is Rs. 626 to Rs. 627 per equity share.
Heranba Industries IPO Equity Size
This Initial Public Issue of [●] Equity Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs.600 million.
Heranba Industries IPO Share Offering
Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company, aggregating to Rs.600 million,
Issue Size: [●] Equity Shares of Rs.10 each, aggregating to Rs.6252.4 million
Offer for Sale: Offer for sale consists of Up to 9,015,000 Equity Shares of face value of Rs.10 each, aggregating Rs.[●] million.
Heranba Industries IPO – Live Performance
The listing date of this IPO is Mar 5, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
Heranba Industries IPO Grey Market Premium
The Heranba Industries IPO GMP / Grey Market Premium price is Rs 140-150, the Kostak rate is Rs 150 and the Subject to Sauda is X.
Heranba Industries IPO – Company Overview
They are a crop protection chemical manufacturer, exporter and marketing company based out of Vapi, Gujarat.
They manufacture Intermediates, Technicals and Formulations. This company is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrin etc.
Their Pesticides range includes insecticides, herbicides, fungicides and public health products for pest control. Their business verticals include
(a) Domestic Institutional sales of Technicals: manufacturing and selling of Technicals in bulk to domestic companies;
(b) Technicals Exports: Exports of Technicals in bulk to customers outside India;
(c) Branded Formulations: Manufacturing and selling of Formulations under their own brands through their own distribution network in India;
(d) Formulations Exports: Export of Formulations in bulk and customer specified packaging outside India; and
(e) Public Health: Manufacturing and selling of general insect control chemicals by participating in public health tenders issued by governmental authorities and selling to pest management companies.
Heranba Industries IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | ||||
| 30-Sep-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 7,881.20 | 6,247.63 | 5,604.43 | 4,504.65 |
| Total Revenue | 6,192.11 | 9,679.06 | 10,118.38 | 7,504.10 |
| *Total Expense | – | 8,390.63 | 8,897.18 | 6,741.03 |
| Profit After Tax | 663.11 | 977.50 | 754.02 | 468.76 |
Earnings per Equity Share (in Million)
| 31-Mar-20 | Mar-19 | 31-Mar-18 | |
| Basic & Diluted | 25.03 | 19.31 | 12 |
Out of their aggregate revenues for the Fiscal 2020, 2019 and 2018, revenues from
(a) Domestic Institutional sales of Technicals was Rs. 3,010.04 million, Rs. 3,314.59 million and Rs. 1,963.62 million representing 31.64%, 33.00% and 26.35%;
(b) Technicals exports was Rs. 3,470.90 million, Rs. 3,965.69 million and Rs. 3,007.77 million representing 36.48%, 39.48% and 40.37%;
(c) Formulations Exports was Rs. 1,220.62 million, Rs. 951.58 million and Rs. 667.38 million representing 12.83%, 9.48% and 8.96%.
(d) Branded Formulations was Rs. 1,205.78 million, Rs. 1,458.51 million and Rs. 1,670.72 million representing 12.67%, 14.52% and 22.42%; and
(E) Public Health was Rs. 606.40 million, Rs. 353.67 million and Rs. 141.46 million representing 6.37%, 3.52% and 1.90%.
Heranba Industries IPO – Promoters
The Promoters of this company are:
- Sadashiv K. Shetty
- Raghuram K. Shetty
List of Related Parties (Key Managerial Personnel)
- Abdul Latif, Company Secretary & Compliance Officer
- Maheshwar V. Godbole, Chief Financial Officer
Heranba Industries IPO – Promoter Holdings
- Pre-Issue Share Holding is around 98.1%
- Post-Issue Share Holding to be around 74.1%
Competitive Strengths of Heranba Industries
- Presence in a wide range of products across the entire value chain of synthetic pyrethroids.
- Product registrations in the domestic and international markets enabling global outreach
- Strong product portfolio and wide distribution network
- Diversified and stable customer base
- Experienced Promoters and Management Team.
Check out Related IPO Links:
Heranba Industries IPO Offer Details or Issue Details
| Offer | Offer of [●] Equity Shares aggregating [●] Million. |
| Of which | |
| Fresh Issue | Up to [●] Equity Shares |
| Offer to Sale | Up to [●] Equity Shares |
| QIB Category | Not more than [●] Equity Shares |
| Of which: | |
| Anchor Investor Portion | Up to [●] Equity Shares |
| QIBs | [●] Equity Shares |
| Of which: | |
| – Available for allocation to Mutual Funds | Up to [●] Equity Shares |
| – Balance of QIB Category for all QIBs including Mutual Funds | [●] Equity Shares |
| Non-Institutional Category | Not less than [●] Equity Shares |
| Retail Category | Not less than [●] Equity Shares |
| Equity Shares outstanding prior to the offer | 3,90,56,530 Equity Shares |
| Equity Shares outstanding after the Offer | 4,25,40,530 Equity Shares |
Heranba Industries IPO Issue Object
These are the IPO Issue Objects of the company
1. To fund working capital requirements;
2. To fund expenditures towards general corporate purposes; and
3. Meet public issue expenses.
Business strategies of Heranba Industries Limited:
- Enhancing and streamlining production capacities and operations.
- Developing a new R&D facility at Unit III (Sarigam Unit) for new product development.
- Entering the highly regulated markets of USA and Europe.
- Enhancing Formulations & Technicals business in the international markets.
- Branded Formulations and Public Health products segment.
Heranba Industries IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
a. Presence in a wide range of products across the entire value chain of synthetic pyrethroids.
b. Product registrations in the domestic and international markets enabling global outreach.
c. Strong product portfolio and wide distribution network.
d. Diversified and stable customer base.
e. Experienced Promoters and Management Team.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-18 | 12 | 29.8 | – |
| 31-Mar-19 | 19.31 | 33.05 | – |
| *31-Mar-20 | 25.03 | 30.47 | 82.15 |
Competitive Peers:
| Particulars | Face Value (in Rs.) | EPS (In Rs.) Basic | P/E Ratio | RONW (%) | NAV (In Rs.) |
| Heranba Industries Limited | 10 | 25.03 | [●] | 30.47 | 82.14 |
| –Peer Group– | |||||
| Rallis India Limited | 10 | 9.51 | 29.67 | 13.11% | 72.51 |
| Sumitomo Chemical India Limited | 10 | 4.1 | 72.11 | 16.75% | 24.48 |
| Bharat Rasayan Limited | 10 | 371.03 | 24.94 | 27.94% | 1327.73 |
| Punjab Chemicals and Crop Protection Limited | 10 | 8.77 | 70.32 | 11.00% | 79.72 |
Heranba Industries IPO Lead Managers
| Lead Managers |
| Emkay Global Financial Services Limited The Ruby, 7th Floor, Senapati Bapat Marg Dadar (West), Mumbai – 400 028, India. Tel. No.: +91 22 6612 1212 Email: heranba.ipo@emkayglobal.com Investor grievance email: ibg@emkayglobal.com Website: www.emkayglobal.com Contact Person: Deepak Yadav / Sagar Bhatia SEBI Registration No.: INM000011229 Batlivala & Karani Securities India Private Limited |
Heranba Industries IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED 1st floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai- 400 059, Maharashtra, India Tel. No.: +91 22 6263 8200 Fax No.: +91 22 6263 8299 Email: ipo@bigshareonline.com Website: www.bigshareonline.com SEBI Registration No: INR000001385 Contact Person: Babu Raphael |
Heranba Industries IPO – Other Details
- Statutory Auditor – M/s. N. S. Shetty & Co., Chartered Accountants.
- Legal Advisor to the Company – Desai & Diwanji
- Bankers to the Company – ICICI Bank Limited
Heranba Industries IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Heranba Industries IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
News 2 – Heranba Industries IPO Download RHP
Heranba Industries IPO Review FAQs
Ques – What is the Issue Size of Heranba Industries IPO?
Answer – The Company is making an initial public offer of NA equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on fresh issue, Offer for sale, and the net issue.
Ques – What is Heranba Industries IPO Price band?
Answer – The price band for this particular IPO ranges between Rs. 626 to Rs. 627 per equity share. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Heranba Industries IPO Open Date?
Answer – The opening and closing date for the IPO have been updated. The IPO is set to open on Feb 23, 2021, while the closing date is set at Feb 24, 2021.
Ques – What is the IPO Allotment Date?
Answer – We also have the news regarding the respective allotment dates. Basis of Allotment finalization is on March 2, 2021, refund initiation is on March 3, 2021, credit of shares is on March 4, 2021 and share listing date is on March 5, 2021.
Ques – What is the IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges BSE and NSE. Date when the listing would be done is stagnant on March 5, 2021.
Ques – Who is the Registrar of this IPO?
Answer – One of the reputed registrars are managing the issue of this IPO, i.e. BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on a lookout for.
Ques – Who is the Promoter of this Company?
Answer – Here are the promoters of this company – Sadashiv K. Shetty and Raghuram K. Shetty. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is GMP of Heranba Industries IPO?
Answer – We have obtained the GMP of this IPO and it is Rs 170-180. The further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Heranba Industries IPO good for Investment?
Answer – We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of this Company?
Answer – We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2020 in Million is 977.50, 2019 is 754.02, 2018 is 468.76. PAT from Sep 2020 is 663.11.
Market Guide
Featured Topics