Heranba Industries Ltd, is a Gujarat-based company and leading crop protection agro-chemical manufacturer. The company manufactures different types of pesticides including insecticides, herbicides, fungicides and other pest control products. Company has a strong network in the domestic as well as in the overseas market. It exports its products to more than 60 countries through international distribution partners. Company is raising Rs 625 crore (565 offer for sale and 60 fresh issue) through this IPO to finance the company’s working capital requirements and general corporate purposes.
| Promoter | Mr. Sadashiv K Shetty & Mr. Raghuram K Shetty |
| IPO opens on | Feb 23, 2021 |
| IPO ends on | Feb 25, 2021 |
| Share Listing date | March 03, 2021 |
| Face value | Rs 10 per equity share |
| IPO Price | Rs 626 to 627 per share |
| Outstanding equity share prior to offer | 390,56,530 Equity Shares |
| Fresh issue amount | upto Rs 60 Cr |
| Offer for sale | 90,15,000 Equity Shares (aggregating upto Rs 565.24 Cr) |
| Market Lot Size | 23 shares |
| Max lots per retail investor | 13 lots |
| Pre-IPO Market cap (assuming higher band price) | 2449 Cr |
| Post-IPO Market cap (assuming higher band price) | 2509 Cr |
Sale and Profit/Loss data
Here is sale and net profit data in INR Crores
| Sep 30 2020 (half yr) | Sep 30 2019 (half yr) | Mar 31 2020 (1y) | Mar 31 2019 (1y) | Mar 31 2018 (1y) | |
| Total Revenue | 619 | 502 | 968 | 1012 | 750 |
| Net profit | 66 | 53 | 97 | 75 | 46 |
| Revenue growth | 20.9% | -4.3% | 34.9% |
Company valuation
It is small cap company and post IPO market cap is Rs 2509 Cr. at the upper band of IPO price and their total sale is Rs. 618 Cr in half years 2020-21. The market cap to projected annual sale ratio is approx. 2. This ratio is fairly good considering the growth of the company. Subscriber can expect an upside of 25% to 50% after listing.
