The IPO of agrochemical agency Heranba Industries will open for subscription subsequent week. Heranba Industries is a Gujarat-based agrochemical firm.
The firm goals to boost Rs 625 crore from capital markets by means of the problem which shall be a mixture of an Offer for Sale (OFS) by present shareholders and a recent situation of fairness shares.
Heranba Industries will be a part of friends resembling Rallis India, Dhanuka Agritech, Sumitomo Chemical India, and PI Industries, amongst others on the inventory exchanges.
The situation will open for subscription on February 23. It will shut on February 25.
Investors can bid for the problem within the value band of Rs 626-627 per share. Lots will comprise 23 fairness shares and price Rs 14,421.
The firm has reserved 50 per cent of the problem for Qualified Institutional Buyers (QIB), 15 per cent for Non-Institutional Investors (NII) and the remaining 35% is for retail traders.
Heranba Industries had filed its preliminary papers with SEBI in September final 12 months. It obtained the regulator’s remark on November 27, an replace by the capital markets watchdog confirmed on Tuesday. SEBI’s remark may be very needed for any firm to launch public points like preliminary public provide, follow-on public affords and rights situation.
The firm is engaged within the enterprise of producing and advertising a spread of agrochemicals. Proceeds of the recent situation shall be used to fund working capital necessities, expenditures in direction of basic company functions, and meet public situation bills. Equity shares of the corporate shall be listed on the BSE and the NSE.
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