Heranba Industries has received SEBI’s go-ahead to float an initial public offering. The IPO consists of fresh issue of ₹60 crore and an offer for sale of 90,15,000 shares by existing shareholders, as per the draft red herring prospectus.
Heranba Industries, which filed its preliminary papers with SEBI in late September, obtained the regulator’s observation on November 27, an update by SEBI showed on Tuesday.
The company is engaged in the business of manufacturing and marketing a range of agrochemicals.