HERANBA IPO

_{Heranba IPO subscribed 83.3 times on the last day}

_{The public issue received bids for 58,15,01,663 shares a against the total issue size of 69,81,417 shares. The retail investors portion of the share sale was subscribed 11.84 times, while that of non-institutional investors has been subscribed 271.15 times and qualified institutional buyers, whose alloted shares were subscribed 67.4 times at the close of the bidding process.}

The ₹625-crore initial public offering (IPO) of Heranba Industries was subscribed 83.3  times on the last day of bidding. The public issue received bids for 58.15 crore equity shares against an offer size of 69.81 lakh shares, according to the subscription data available on the exchanges. 

_{Objective of the Issue:}

• _{To meet business working capital requirements.}
• _{To meet general corporate purposes.} 
• _{To meet public issue expenses.}

_{Company Promoters:}

• Sadashiv K. Shetty                    
• Raghuram K. Shetty

Heranba is one of the leading domestic producers of pyrethroids with a 19.6 per cent market share. Pyrethroids accounted for 68 per cent of the company's revenues in FY20.

It is Incorporated in 1992, Heranba Industries Limited is a Gujarat-based crop protection chemical manufacturer. It is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, deltamethrin, lambda-cyhalothrin, etc. The company manufactures different types of pesticides including insecticides, fungicides, herbicides, and other pest control products.