Heranba Industries IPO Subscribed Over 84% On Day 1

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

The ₹525 crore preliminary public providing (IPO) of Gujarat-based agrochemicals firm Heranba Industries opened right now. To date, the problem was subscribed 84.18 per cent by the top of the primary day of bidding.

Total, the Heranba Industries IPO contains a recent problem of as much as ₹ 60 crore and a proposal on the market (OFS) of as much as 9,015,000 fairness shares, that are being offered within the worth band of ₹ 626-627. The general public problem is anticipated to fetch as much as Rs 625 crore.

The problem will stay open for subscription by means of February 25. The shares are more likely to be listed on BSE and NSE on March 5, 2021.

It obtained a requirement for 58,76,845 shares throughout each the inventory exchanges towards 69,81,417 shares on supply, information from NSE confirmed.

Traders who want to subscribe to Heranba Industries IPO can bid in quite a lot of 23 fairness shares and multiples thereafter. On the higher worth band, they are going to be paying Rs 14,421 to get a single lot of Heranba Industries.

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All candidates of Heranba Industries IPO additionally should keep in mind that the cut-off time for UPI mandate affirmation is Friday, February 26, 2021, as much as 12:00 pm.

The IPO contains a proposal on the market (OFS) of as much as 90.15 lakh (90,15,000) fairness shares, as per the data given within the purple herring prospectus. The online proceeds from the problem will probably be utilised to finance the corporate’s working capital necessities and basic company functions, the purple herring prospectus mentioned.

Previous to the general public supply, the anchor traders’ portion was open for subscription on Monday the place Heranba Industries raised Rs 187.51 crore from 18 anchor traders, information from the inventory exchanges added.

Emkay World Monetary Companies and Batlivala & Karani Securities India are the e-book operating lead managers to the IPO whereas Bigshare Companies is the registrar of the problem.


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