Heranba Industries IPO: If you want to invest in the issue, first know 10 important things

Heranba Industries IPO: The issue will be released on February 23 and will close on February 25. Its price band is 626-627 rupees. This will be the eighth IPO of this year. The IPO of Indian Railway Finance Corporation came first this year. This is followed by Indigo Paints, Home First Finance Company, Stove Craft, Brookfield India REIT, Nureka and RailTel Corporation of India. MK Global Financial Services and Batliwala and Karni Securities India are the book running lead managers to the issue.

Know 10 important things related to this issue:

Heranba Industries’ IPO will open on February 23 and will close on February 25. The issue will open for anchor investors on February 22, just one day.

The company will issue a fresh issue of Rs 60 crore in the IPO. At the same time, the promoters will sell 90.15 lakh shares in Offer for Sale (OFS). The company will use the money received from this issue to meet its working capital needs.

In this issue, Sadashiv’s Shetty will sell 58,50,000 shares and Raghuram’s Shetty 22,72,038 shares. Sams Industries will sell 8,12,962 shares, Babu K Shetty 40,000 shares and Vittala K Bhandary 40,000 shares.

Heranba Industries will hold 23 shares in one lot. The price band of the company’s shares is 626-627 rupees. The company aims to raise Rs 624.34-625.24 crore through an IPO.

Heranba Industries is a Gujarat based company that manufactures insecticides, fungicides and herbicides used for crop protection. The company has exported more than 60 countries in Latin America, CES, Middle East, Africa, Asia and South-East Asia in FY 2020.

Heranba has a large distribution network in India with over 9,400 dealers in 16 states and 1 union territory across the country. The company also has 21 storage centers across the country.

Sadashiv’s Shetty, Raghuram’s Shetty, Babu’s Shetty and Vitthal’s Bhandari are among the company’s promoters. As of February 10, his total stake in the company was 98.85 per cent.

Raghuram K. Shetty is the promoter and managing director of the company. He has over three decades of experience in the agrochemical industry.

Sujata K Shetty, Vanita R Shetty and Raunak R Shetty are Whole Time Directors on the board. Kaushik H Gandhi, Mulki V Shetty, Anil Kumar M Marlecha, Ganesh N Vnamali and Nimesh S Singh are Independent Directors of the Board.

CA Maheshwar V Godbole is the Chief Financial Officer of the company.

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