InvestorQ : What has been the early response to the Heranba IPO that opened on Tuesday?
sara Kunju made post

What has been the early response to the Heranba IPO that opened on Tuesday?

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Mary Joseph answered.
9 months ago
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On 23 Feb, the IPO of Heranba Industries, the agrochemical company based out of Gujarat, opened for subscription. The IPO will remain open till the end of trading on 25 February. At the end of the first day of the IPO, the Heranba Industries IPO had received 84.18% subscription for its public issue of shares overall.

The IPO includes Rs.60 crore by way of fresh issue resulting in fresh inflow of funds into the company’s balance sheet. The balance Rs.565 crore will be raised by way of an offer for sale or OFS as it is better known as. Over the end of the second and third day of subscription, the response numbers era expected to build up across categories.

Investors can bid in the IPO in minimum lots of 23 shares entailing an investment of around Rs.14,200 per lot. Investors are allowed to put bids for a maximum of 13 lots under the retail category, so that it falls within the Rs.2 lakh limit for retail. Heranba has managed to place shares to 18 anchor investors ahead of the IPO to the extent of nearly Rs.188 crore. Heranba Industries is a major player in the manufacture of agrochemicals in Gujarat.

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