Stocks

Heranba IPO subscribed 83 times

Our Bureau Chennai | Updated on February 25, 2021

The ₹ 625-crore initial public offering of Heranba Industries has been subscribed 83 times on the last day of the issue. The issue comprises a fresh issue of ₹60 crore and an offer for sale (OFS) of ₹565.2 crore by promoters. The price band for the issue has been fixed at ₹626-627 a share. Ahead of the IPO, the agrochemical company had raised ₹187.5 crore from anchor investors by allotting 29.90 lakh shares at ₹627 a share. While the portion reserved for QIBs got subscribed 67.45 times, HNIs portion saw a massive response of 271 times. Retail investors portion has received bid for 11.6 times.

Published on February 25, 2021

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