IPO News

HIL or Heranba Industries IPO to launch on Tuesday, February 23

Gujarat-based agrichemicals manufacturer Heranba Industries is set to launch it’s IPO on February 23.

The issue for the same will close on February 25.

Heranba Industries is a crop protection chemical manufacturer, exporter and marketing company based out of Vapi, Gujarat.

It has administration offices in Mumbai and manufactures intermediates, technicals and formulations.

The company is also one of the top domestic producers of synthetic pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrin etc.

Moreover, it’s range of pesticides include insecticides, herbicides, fungicides and public health products for pest control.

Currently, the company possesses 3 manufacturing and packaging facilities in the industrial belt of Vapi, Gujarat.

Following are the key points to consider about HIL’s IPO:

  • The IPO of Heranba Industries has a lot size of about 23 shares.
  • Finalization of Heranba Industries IPO will take place on March 2 and listing will be on March 5, according to brokerages.
  • The issue has a price band fixed at Rs 626-627 per share of the face value of Rs 10 each.
  • An offer for sale of the IPO includes 90.15 lakh equity shares with a fresh issue of Rs 60 crore shares.
  • The book-running lead managers to the IPO are Emkay Global Financial Services and Batlivala & Karani Securities India.
  • Registrar of the issue is Bigshare Services

The company’s financial position is recorded at RNW of 30.47 percent as per FY20 financial statements along with strong management and reasonable valuations.

At present, the company is leading in the pyrethroids market given it’s dominant position.

Hence, a subscribe rating is assigned based on its strong distribution network, increasing export opportunity with healthy margins and profitability.

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