Heranba Industries IPO Detail: Gujrat Based Govt Recognised Export House

Heranba Industries IPO Detail: Gujrat Based Govt Recognised Export House

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.

Heranba Industries operates in different verticals including 1. Domestic sales of Technicals to companies 2. Technicals exports, 3. Domestic sales of Branded formulations under its own brand name, 4. Formulations export, and 5. Manufacturing and selling of insect control chemicals. It has a strong network in the domestic as well as the overseas market. In India, it has 8600 dealers across 16 states and 1 union territory whereas, in the overseas market, it exports its products to more than 60 countries through international distribution partners.

The company has 3 well-equipped manufacturing units in Vapi, Gujarat with an aggregate manufacturing capacity of 14,024 MTPA. It further has an in-house R&D team at Unit I and II that are recognized by the Department of Scientific and Industrial Research (DSIR) and its new R&D facility at Unit III, Sarigam will become operational from December 2020.

Competitive strengths

  • Range of product portfolio including Intermediates, Formulations, and Technicals.
  • Domestic as well as global reach.
  • Strong distribution network.
  • Large customer base.
  • Experienced promoters and management team.

Company Promoters:

Sadashiv K. Shetty and Raghuram K. Shetty are the company promoters.

Company Financials:

Summary of financial Information (Restated Consolidated)
ParticularsFor the year/period ended (₹ in million)
Total Assets7,881.206,247.635,604.434,504.65
Total Revenue6,192.119,679.0610,118.387,504.10
Profit After Tax663.11977.50754.02468.76

Objects of the Issue:

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

Heranba Industries IPO Details

IPO Opening DateFeb 23, 2021
IPO Closing DateFeb 25, 2021
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price₹626 to ₹627 per equity share
Market Lot23 Shares
Min Order Quantity23 Shares
Listing AtBSE, NSE
Issue Size[.] Eq Shares of ₹10
(aggregating up to ₹625.24 Cr)
Fresh Issue[.] Eq Shares of ₹10
(aggregating up to ₹60.00 Cr)
Offer for Sale9,015,000 Eq Shares of ₹10
(aggregating up to ₹[.] Cr)

Heranba Industries IPO Tentative Timetable

The Heranba Industries IPO open date is Feb 23, 2021, and the close date is Feb 25, 2021. The issue may list on Mar 5, 2021.

IPO Open DateFeb 23, 2021
IPO Close DateFeb 25, 2021
Basis of Allotment DateMar 2, 2021
Initiation of RefundsMar 3, 2021
Credit of Shares to Demat AccountMar 4, 2021
IPO Listing DateMar 5, 2021

Heranba Industries IPO Lot Size

The Heranba Industries IPO market lot size is 23 shares. A retail-individual investor can apply for up to 13 lots (299 shares or ₹187,473).

ApplicationLotsSharesAmount (Cut-off)

Heranba Industries IPO Promoter Holding

Pre Issue Share Holding98.1%
Post Issue Share Holding74.1%

Heranba Industries IPO Prospectus

The grey market premium of Heranba Industries shares is stable at Rs 200 or 32 per cent from the IPO price.


  • The company’s range of product portfolio includes intermediates, formulations, and technical. 
  • It has its presence in a wide range of products across the entire value chain of synthetic pyrethroids. 
  • Other factors include:  
  • Domestic as well as global reach. 
  • Strong product portfolio and wide distribution network. 
  • Experienced promoters and management team. 
  • Diversified and stable customer base. 

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