Price Band fixed at Rs. 626 – Rs. 627
- Heranba Industries Limited’s Initial Public Offer (IPO) opens on February 23 and closes on February 25. Shares offered at a Price Band of Rs. 626 to Rs. 627 per equity share. Upto 9,015,000 shares are by Offer For Sale (OFS) by the selling shareholders. The proceeds from the fresh Issue of upto Rs. 600 million are proposed to be used in additional working capital requirements and general corporate purposes.
- Gujarat based Heranba Industries Limited, incorporated in 1992, is in the business of manufacturing, marketing and exporting crop protection chemicals. It makes Intermediates, Technicals and Formulations at its three manufacturing plants in and around Vapi in Gujarat. It has its Corporate Office at Mumbai.
- Heranba Industries Limited has over 9400 dealers/distributors across 16 States and 1 Union Territory in India and also exports to over 60 countries.
- For the six months ended September 30, 2020, Heranba Industries Limited had the revenues of Rs. 6192.11 million and Profits After Tax of Rs. 663.11 million. For past three financial years of 2019-20, 2018-19 and 2017-18, it has clocked revenue of Rs. 9679.06 million, Rs. 10118.38 million and Rs. 7504.10 million and Profit After Tax of Rs. 977.50 million, Rs. 754.02 million and Rs. 468.76 million respectively.
Gujarat based Heranba Industries Limited, a profit-making company existing since 1992, manufacturing, exporting and marketing crop protection chemicalsannounced an Initial Public Offering (IPO) to finance its working capital requirements and general corporate purposes and an Offer for Sale (OFS) of upto 90,15,000 equity shares. The IPO is for Rs. 6252.40 million (at the top end of the price band) of face value of Rs. 10 each for cash at a premium offered through a book-building route at a price-band of Rs. 626 to Rs. 627 per equity share. The Book Running Lead Managers to the IPO are Emkay Global Financial Services Limited and Batlivala & Karani Securities India Private Limited. Registrar to the Offer is Bigshare Services Private Limited. The IPO opens for public subscription on 23rd February 2021 and close on 25th February 2021 with subscription for Anchor Investors opening on 22nd February 2021. The shares will be listed on NSE and BSE. Link for the RHP: https://www.sebi.gov.in/filings/public-issues/feb-2021/heranba-industries-limited_49129.html
Heranba Industries Limited is a crop protection chemicals manufacturer, exporter and marketing company. Heranba Industries Limited has three manufacturing plants in and around Vapi in Gujarat and Corporate office at Mumbai. It has over 9400 dealers/distributors across 16 states and 1 Union Territory in India and also exports to over 60 countries across Middle East, CIS, Asia, South East Asia and Africa. In revenue terms, the exports constituted over 41% of sales.
Heranba Industries Limited present in the entire product value chain of agrochemical industry i.e. Intermediates, Technicals and Formulations. It operates in five business verticals of Domestic Institutional Sales of Technicals, Technicals Exports, Branded Formulations, Formulations Exports and Public Health products.
The Company holds registrations of 18 Technicals and 169 Formulations for manufacture and sale in India, 103 Technicals and Formulations for exports. It currently has applications pending for 14 Technicals & Formulations for manufacture for sale in India and 7 Technicals & Formulations for the export markets.
During the past three financial years of 2019-20, 2018-19 and 2017-18, the company has clocked revenues of Rs. 9679.06 million, Rs. 10,118.38 million and Rs. 7504.10 million respectively and Profit After Tax of Rs. 977.50million, Rs. 754.02million and Rs. 468.76million respectively. For the six months ended September 30, 2020, Heranba Industries Limited had the revenues of Rs. 6183.44 million and Profits After Tax of Rs 663.11 million, a growth of 23.26% and 24.54% respectively from the corresponding period of previous year. Indian market itself is likely to expand due to a low per capita consumption of agrochemicals and increasing food demand, Increasing demand for horticulture and floriculture, government budgetary & policy support to agriculture, etc.