Heranba Industries IPO subscribed for more than 84% on the first day

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Heranba Industries shares are expected to be listed on BSE and NSE on March 5, 2021.

The initial public offering (IPO) of ₹ 525 crore of the agrochemical company Heranba Industries, based in Gujarat, was opened today. So far, the show was 84.18 percent underwritten by the end of the first day of the auction.

Overall, the IPO of Heranba Industries includes a new issue of up to ₹ 60 crore and an offer to sell (OFS) of up to 9,015,000 equity shares, which are sold within the range. prices from ₹ 626 to ₹ 627. The public problem is expected to reach up to Rs 625 crore.

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The issue will remain open for subscription until February 25. The shares will likely be listed on BSE and NSE on March 5, 2021.

He received a request for 58.76,845 shares on the two exchanges against 69.81,417 shares offered, according to data from NSE.

Investors who wish to subscribe to the IPO of Heranba Industries can bid on a lot of 23 shares and multiples thereafter. In the upper price bracket, they will pay Rs 14,421 to get a single batch from Heranba Industries.

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All applicants for the IPO of Heranba Industries should also remember that the deadline for confirmation of UPI’s tenure is Friday, February 26, 2021, until 12:00 p.m.

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The IPO includes an offer to sell (OFS) of a maximum of 90.15 lakh (90.15,000) equity shares, in accordance with the information given in the red herring prospectus. The net proceeds from the issuance will be used to fund the company’s working capital needs and general business objectives, the Red Herring prospectus says.

Prior to the public offering, the anchor investor portion was open for subscription on Monday where Heranba Industries raised Rs 187.51 crore from 18 anchor investors, the exchange data added.

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Emkay Global Financial Services and Batlivala & Karani Securities India are the leaders of the IPO, while Bigshare Services is the registrar of the issue.

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