Heranba Industries makes robust market debut, lists at 47.85% premium
Gujarat-based agrochemical player Heranba Industries listed at Rs 927, marking a premium of 47.85% on the BSE.
Shares of Gujarat-based agrochemical player Heranba Industries made a stellar market debut on Friday. The stock opened for trading at Rs 918 on the National Stock Exchange, compared to the issue price of Rs 627, marking a premium of 46.41%. On the BSE the stock listed at Rs 927, at a premium of 47.85%.
The Rs 625 crore-public issue was subscribed 83.29 times on February 25, the final day of bidding, as it received bids for 58.15 crore equity shares against an offer size of 69.81 lakh equity shares, the subscription data available on the exchanges shows.
The public issue was subscribed 11.84 times in the retail category, 67.45 times in QIB, and 271.15 times in the NII category by Feb 25, 2021
Heranba Industries is into manufacturing, exporting & marketing of crop protection chemical. Company is located in Vapi, Gujarat & manufacture Intermediates, Technicals and Formulations. The company is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrin etc. Company’s Pesticides range includes insecticides, herbicides, fungicides and public health products for pest control.