Crop protection chemical manufacturer Heranba Industries is set to launch its Rs 625-crore initial public offering on February 23. The price band is fixed at Rs 626-627.
A 2-day led IPO calls investors to bid for a minimum of 23 equity-shares and in multiples of 23 shares thereafter.
The IPO comprises of a fresh issue of Rs 60 crore and an offer for sale of 90.15 lakh equity shares by promoters. Sadashiv K Shetty will sell 58,50,000 equity shares; Raghuram K Shetty will offer 22,72,038 shares. Meanwhile, 8,12,962 shares will be offered by Sams Industries; 40,000 shares by K Shetty and 40,000 shares by VK Bhandary.
Gujarat-based Heranba Industries is one of the leading domestic producers of synthetic pyrethroids. These include cypermethrin, alphacypermethrin, deltamethrin, permethrin, lambda-cyhalothrin. Its pesticides range includes insecticides, herbicides, fungicides and public health products for pest control.
