Heranba Industries IPO – Review, Price, Allotment, Subscription & DRHP

Let’s have a detailed review of the company and analytics of the Heranba Industries IPO release date, IPO offer price, subscription, Heranba Industries IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things. Heranba Industries IPO comprises of 1,07,00,000 Equity Shares having face value of 10.00 each at a price of [●] per Equity Share (including a share premium of [●] per Equity share) aggregating [●] lakhs.


Heranba Industries IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 8.5/10
Industry Ranking 7.8/10
Company Background 7.9/10
Company Reputation 7.9/10
Competitive Edge 7.7/10
Financial Statements 7.8/10
Popularity Index 8.4/10
Promoters Reputation 7.7/10
Retail Appetite 7.9/10
Top Brokers Review 7.9/10
Overall Ratings 8.1/10
Star Ratings ★★★★☆

Summary of Heranba Industries Limited IPO

Heranba Industries IPOHeranba 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. Heranba Industries IPO comprises Offer of 1,07,00,000 Equity Shares having face value of 10.00 each at a price of [●] per Equity Share (including a share premium of [●] per Equity share) aggregating [●] lakhs.

From FY 2013-14 to FY 2016-2017, as per the Restated Financial Statements,

  • The revenues have increased from INR 53,758.82 lakhs in F.Y. 2015–16 to INR 61,031.62 lakhs in F.Y. 2016–17, to INR 75,040.97 lakhs in F.Y. 2017–18 reflecting a CAGR of 39.5%.
  • As at March 31, 2018, the restated net worth of the Company was 15,760.63 lakhs as per the Restated Financial Statements.
  • As at March 31, 2018, the net asset value per Equity Share of the Company was 201.77 as per the Restated Financial Statements.
  • The Net Profit after tax for the above – mentioned periods are INR 1,688.04 lakhs, INR 2,032.44 lakhs, INR 4,759.45 lakhs, respectively, showing a growth at a CAGR of 182%.

The Promoter of this company is Sadashiv K. Shetty and  Raghuram K. Shetty. The lead manager to the issue is Guiness Corporate Advisors 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 not known yet.


Heranba Industries IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1 
Day 2
Day 3
Day 4
Day 5
Shares Offered or Net Issue

 


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Heranba Industries IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Heranba Industries IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Heranba Industries IPO Equity Share Offering

It offers 1,07,00,000 Equity Shares having face value of 10.00 each at a price of [●] per Equity Share (including a share premium of [●] per Equity share) aggregating [●] lakhs.


Heranba Industries Limited – Company Overview

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.

Heranba Industries Limited manufacture technical products (active ingredients), intermediate products and formulations. The pesticides range includes insecticides, herbicides, fungicides and public health products for pest control. They have products for all kinds of crops, vegetables and fruits. The products viz Deltamethrin and Alphacypermethrin are now recommended and included in the WHO/FAO specifications. The company has a well-balanced effluent treatment system for the solid, liquid and gaseous effluents and emission generated from the various processes.

They export the Products to more than 60 countries including Argentina, Belgium, Egypt, Ghana, Indonesia, Jordan, Malaysia, Nicaragua, Philippines, South Africa, Tunisia, Ukraine, Australia, Brazil, Europe, Hamburg, Iran, Kenya, Mexico, Nigeria, Poland, Turkey, Vietnam, Bangkok, China, France, Zimbabwe, Israel, Korea, Pakistan, Saudi Arabia, Taiwan, Uganda, Thailand, UK, Bangladesh, Colombia, Germany, Hongkong, Istanbul, Kyrgyzstan, New Zealand, Peru, Singapore, Middle East.

They have four fully integrated and modern manufacturing facilities with an In-house R&D facility for product development and improvisation. All 4 facilities are in the industrial belt of “Vapi”, which is a prime Industrial Township in Gujarat, at a distance of 180 km from Mumbai. These facilities offer a range of Crop Protection chemicals, Public Health and Animal Health solutions.

The Company is promoted by Sadashiv K. Shetty and Raghuram K. Shetty and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Heranba Industries Limited:

  • They manufacture wide range of products.
  • Awards & Recognition
  • Technical Capabilities
  • Proven track record of their Company and their Promoters
  • Strategic Location of manufacturing facilities 

Business strategies of Heranba Industries Limited:

  • Increase in market share
  •  Market development:
  • Entering into US and Europe Markets
  • Technical and Marketing Collaboration
  • Innovation and Product Development
  • Strengthening their position in Public Health Products

Heranba Industries Limited – 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 & Lakhs)
31-Mar-18 31-Mar-17 31-Mar-16
Total Assets 45,090.57 32,090.91 32,464.63
Total Revenue 75,040.97 61,031.62 53,758.82
Total Expense 67,389.37 57,579.06 50,976.41
Profit After Tax 4,759.45 2,032.44 1,688.04

Earnings per Equity Share (in Lakhs)

31-Mar-18 31-Mar-17 31-Mar-16
Basic & Diluted 60.93 26.02 21.64

From the above statements, one could find that the Heranba Industries Limited may perform well.


Heranba Industries IPO – Promoters

The Promoters of this company are:

  • Sadashiv K. Shetty
  • Raghuram K. Shetty

List of Related Parties (Key Managerial Personnel)

  • Maheshwar V. Godbole
  • Shivani Rohila
  • Madhav Keshav Raikar
  • Sumit Agarwal
  • Anupam A. Biswas
  • Prakash Kumar
  • Rajesh Ohri
  • S.P. Banerjee

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Heranba Industries IPO Offer Details or Issue Details

Offer Offer of 1,07,00,000 Equity Shares having face value of 10.00 each at a price of [●] per Equity Share (including a share premium of [●] per Equity share) aggregating [●] lakhs.
Of which
Fresh Issue Up to 34,84,000 Equity Shares
Offer to Sale Up to 72,16,000 Equity Shares
QIB Category Not more than [●] Equity Shares
Of which:
 Anchor Investor Portion Up to [●] Equity Shares
Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed) [●] Equity Shares
Of which:
– Available for allocation to Mutual Funds only (5% of the QIB Category (excluding the Anchor Investor Portion)) 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

  • Funding the Working Capital requirements of the Company:
  •  Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company; and
  •  General Corporate Purposes

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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:

  • They manufacture wide range of products.
  • Awards & Recognition
  • Technical Capabilities
  • Proven track record of their Company and their Promoters
  • Strategic Location of manufacturing facilities

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16 21.64 17.14
31-Mar-17 26.02 17.52
31-Mar-18 60.93 30.2 201.77
  • Industry P/E Ratio:
Particulars P/E ratio
Highest 39.5
Lowest 11.10
Average 19.7
  • Competitive Peers:
Sr. No.  Particulars Face Value  (in Rs.) EPS (In Rs.) Basic P/E Ratio RONW (%)  NAV (In Rs.)
1 Heranba Industries Limited 10 60.93 [●] 30.20 201.77
2 Excel Crop Care
Limited
5 87.3 49.9 17.00 472.8
3 Insecticides India
Limited
10 42.3 14.1 16.6 264.9
4 Meghmani
Organics Limited
10 8.00 11.1 21.6 34.2
5 Bharat Rasayan 10 250.1 30.2 38.9 701.8
6 Dhanuka
Agritech
2 25.7 20.7 16.6 129.1

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Heranba Industries IPO Lead Managers

Lead Managers
GUINESS CORPORATE ADVISORS PRIVATE LIMITED
18 Deshapriya Park Road,
Kolkata – 700 026, West Bengal, India
Tel. No.: +91 33 3001 5555
Fax No.: +91 33 3001 5531
Email:
Investor Grievance Email:
Website: www.guinessonline.net
SEBI Registration No: INM 000011930
Contact Person: Mayur Parikh / Alka Mishra

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:
Website: www.bigshareonline.com
SEBI Registration No: INR000001385
Contact Person: Babu Raphael

Other Details:

  • Statutory Auditor – M/s. N. S. Shetty & Co., Chartered Accountants.
  • Peer Review Auditor – M/s. N. S. Shetty & Co., Chartered Accountants
  • Bankers to the Company – Corporation Bank and Syndicate Bank

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 Grey Market Premium

The Heranba Industries IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Heranba Industries IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)


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