Heranba Industries is coming out with an initial public offering (IPO) to raise around Rs 625 crore. The issue will open on February 23, 2021 and will close on February 25, 2021. It has fixed a price band of Rs 626-627 per share. The shares of the company are proposed to be listed on both BSE and NSE.
The funds raised through the IPO will be utilised to finance the company's working capital requirements and general corporate purposes. The Book Running Lead Managers to the IPO are Emkay Global Financial Services Ltd and Batlivala and Karani Securities India.
Heranba Industries is a Gujarat-based crop protection chemical manufacturer. It is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, deltamethrin, lambda-cyhalothrin, etc. The company manufactures different types of pesticides including insecticides, fungicides, herbicides, and other pest control products.
