Heranba Industries IPO subscribed 83 times on strong HNI support

The intial public offer (IPO ) Gujarat-based Heranba Industries was subscribed 83 times on Thursday, the issue’s final day. The institutional investor portion was subscribed 67 times. The wealthy investor portion by 271 times, and subscribed 11 times the portion reserved for them. The price band for the IPO was set at Rs 626-627 per share.

The issue comprises Rs 60 crore of fresh fundraise and Rs 565 crore of offer for sale. At the upper end, the IPO is priced at nearly 23 times its trailing 12-month earnings and values the company at Rs 2,509 crore. Heranba is a crop protection chemical manufacturer, exporter and marketing company.

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First Published: Thu, February 25 2021. 19:39 IST

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