Agrochemical manufacturer Heranba Industries has received the Securities and Exchange Board of India’s (SEBI) approval to float an initial public offering (IPO). The initial share-sale consists of fresh issue of equity shares to the tune of Rs 60 crore and an offer for sale of 90,15,000 equity shares by existing shareholders, as per the draft papers red herring prospectus.
Heranba Industries, which filed its preliminary papers with SEBI in late September, obtained the regulator's observation on November 27, an update by the capital markets watchdog showed on Tuesday. SEBI's observation is very necessary for any company to launch public issues like initial public offer, follow-on public offers and rights issue.
The company is engaged in the business of manufacturing and marketing a range of agrochemicals. Proceeds of the fresh issue would be used to fund working capital requirements, expenditures towards general corporate purposes, and meet public issue expenses. The issue is being managed by Emkay Global Financial Services and Batlivala & Karani Securities India. Equity shares of the company will be listed on the BSE and the NSE.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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