SEBI Approval to Heranba Industries Ltd. IPO.Securities & Exchange Board of India (SEBI) has cleared the agrochemical manufacturer, Heranba Industries Limited’s Initial Public Offering (IPO). The IPO is now slated to open for subscription sometime in December 2020, subject to the approval of Red Herring Prospectus (RHP) by the Registrar of Companies.
The IPO would be a combination of fresh equity of Rs 60 crores to fund working capital requirements and general corporate purposes, and an Offer For Sale (OFS) by the Promoters and other shareholders of the Company. The IPO will be through the book-building process.
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.
Gujarat based Heranba Industries Limited, incorporated in 1992, now has three manufacturing plants in and around Vapi in Gujarat with Corporate office in Mumbai.It is a crop protection chemical manufacturer, exporter and marketing company.
Heranba Industries Limited manufactures Intermediates, Technicals and Formulations. It is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrin etc.
The pesticides range includes insecticides, herbicides, fungicides and public health products for pest control. Besides the domestic Indian market, Heranba Industries Limited exports its products to more than 60 countries.
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. 977.49 million, Rs. 754.02 million and Rs. 468.76 million respectively.