Things to know before subscribing to Heranba Industries IPO

Heranba Industries is planning to open its IPO on February 23 and closes on February 25. They are keeping the price band at Rs. 626-627. Here are a few things to know before subscribing to the offering.

The issue is a fresh one worth Rs.60 crore with a for sale offer worth Rs.90.25 lakh equity shares by the promoters. The company is planning to raise anywhere from Rs.624.34 crore to Rs.625.24 crore. The company will use the funds raised for general corporate reasons. The Gujarat-based company produces synthetic pyrethroids like deltamethrin, permethrin, cypermethrin, alphacypermethrin and others.

They export material to over 60 countries and have three manufacturing units in Vapi. Their customers include Biostadt India, NACL, Meghmani Organics, Agro Life Science Corporation, Sumitomo Chemical India, Sulphur Mills, Crystal Crop Protection, Sharda Cropchem, PI Industries, Krishi Rasayan Group, and Shanghai Agricare Chemical, China.