Heranba Industries share price jumps up to 43.54 percent on March 5, 2021. The crop protection chemical manufacturer has made its entry in the stock market today.
Apart from this, the IPO or the initial public offering too received very good responses.
The issue, already was supported with favorable market conditions. It also had a well-maintained robust return ratio that attracted the gains.
Apart from this, the company also maintains a very strong balance sheet.
Moving ahead, the stock opened the day at Rs 900 on the BSE and NSE. It reported high gains of Rs 273 above the issue price which was Rs 627 per share.
The stock was trading at Rs 887.15 levels at 10:03 IST. It was up at Rs 260.15 or 41.49 percent as per the data on BSE.
On the other hand, Heranba quoted Rs 881.05 on the National Stock Exchange or NSE. The scrip was up by 40.5 percent on the NSE.
Heranba also traded with a volume of 42.68 lakh shares & 5.36 lakh shares on NSE and BSE respectively. Hence, the scrip has hit a high in both the terms of share price and volumes.
Moreover, the company has collected around Rs 625 crore via its IPO. The IPO got subscribed for 83 times.
The company has announced to utilize net fresh issue proceeds for its working capital requirements.
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