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Heranba Industries’ Rs 625 Crore IPO To Open For Bidding On Tuesday

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Heranba Industries is a crop safety chemical producer, exporter and advertising and marketing firm

Heranba Industries’ Rs 625 crore preliminary public providing (IPO) will open on Tuesday, i.e. February 23. The Gujarat-based crop safety chemical producer’s share providing will likely be open for 3 days from February 23 to February 25, 2021. Heranba Industries will promote shares within the value band of Rs 626-627 per share and is predicted to lift Rs 625 crore on the increased finish of the value band. The shares will likely be listed on BSE and NSE on March 5, 2021.

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Heranba Industries IPO contains a contemporary situation of Rs 60 crore and a proposal on the market of Rs 565.2 crore. Retail traders can bid for a minimal one lot of 23 shares and in multiples thereof, extending as much as 13 tons.

The quota for retail traders within the IPO is 35 per cent of the web provide, QIB quota stands at 50 per cent and NII quota is 15 per cent.

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The subscription for anchor traders’ portion will happen on February 22, 2021.

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Heranba Industries will utilise the proceeds from the contemporary situation for its working capital necessities and basic company functions.

Heranba Industries is a crop safety chemical producer, exporter and advertising and marketing firm based mostly in Vapi, Gujarat. It is likely one of the main home producers of artificial pyrethroids resembling cypermethrin, alphacypermethrin, deltamethrin, permitherin and lambda, and pesticides together with herbicides, fungicides and public well being merchandise for pest management.

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Emkay International Monetary Providers and Batlivala & Karani Securities are the e-book operating lead managers to the pubic situation of Heranba Industries.

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