Heranba Industries Limited IPO
Incorporated in 1996, Heranba Industries Limited is a crop protection chemical manufacturer, exporter & marketing company. The company is based out in Vapi, Gujarat, and has its corporate & administration office in Mumbai. The company manufactures technicals, intermediates & formulations. Heranba industries is one of the domestic leading producers of synthetic pyrethroids which include alphacypermethrin, cypermethrin, deltamethrin, permitherin, etc. Its pesticide products range includes herbicides, insecticides, fungicides & other health products for pest control.
Heranba industries have an extensive distribution network in India which is supported by the skilled sales force. The company has more than 9,400 dealers that have access to 21 depots across 16 states and 1 UT to support the product distribution. The products of the company have been exported to more than 60 countries including Latin America, Africa, Middle-east, South East Asia, etc. with its international distribution channel. The company also participates in various domestic & international agrochemical exhibitions and industry conferences to market its products.
The company has 3 manufacturing & packaging facilities in & around the industrial belt of Vapi (Gujarat) which has an aggregate manufacturing capacity of 14,024 MTPA with 174 reactors. These facilities of the company manufacture intermediates, technicals, pesticides, fungicides & formulations. Heranba industries’ R&D Unit 1 & 2 facilities are recognized by the Department of Scientific and Industrial Research (DSIR) which comes under the Ministry of Science & Technology of the Government of India. Unit III in Sarigam, which is a new R&D facility has become operational from December 2020.
The promoter of the company are Sadashiv K. Shetty and Raghuram K. Shetty.
Strengths of the company:
- The company has a wide and diversified range of products across the value chain of synthetic pyrethroids.
- It has a wide distribution network and strong product portfolio.
- The company has registered its products in both domestic and international markets which enables global reach.
- It has a stable and diversified customer base.
- The promoters and the management team of the company are well-experienced.
Purpose of the IPO:
- To meet the working capital requirement of the company.
- For general corporate purposes.
Financial Performance of the company:
| For the Period Ended 30th September 2020 | FY 2020 | FY 2019 | FY 2018 | |
| Total Revenue | 619.21 | 967.90 | 1,011.83 | 750.41 |
| Total Expenses | 529.13 | 839.06 | 889.71 | 674.10 |
| Profit after tax | 66.31 | 97.75 | 75.40 | 46.87 |
| Total Assets | 788.12 | 624.76 | 560.44 | 450.46 |
*All the values are in crores and as per DRHP.
Valuation of the company:
| For the Period Ended 30th September 2020 | FY 2020 | FY 2019 | FY 2018 | |
| Basic Earnings per Share (EPS) | 16.98 | 25.03 | 19.31 | 12.00 |
| Diluted Earnings per Share (EPS) | 16.98 | 25.03 | 19.31 | 12.00 |
| Average Return on Net Worth (%) | 17.39 | 30.47 | 33.05 | 29.80 |
| Net Asset Value per Equity share | 97.62 | 82.15 | 58.42 | 40.29 |
*as per RHP.
Heranba Industries Limited IPO DRHP
Heranba Industries Limited IPO RHP
IPO details:
| Face Value | ₹10 per equity share |
| Market Lot | 23 Shares |
| Minimum Order Quantity | 23 Shares |
| Price Band | ₹626 - ₹627 per equity share |
| Issue type | Book Built Issue IPO |
| Issue Size | ₹625.54 Crores |
| Fresh Issue | ₹60 Crores |
| Offer for Sale | ₹565.54 Crores |
| Listing | NSE, BSE |
Important IPO dates:
| Open Date | 23rd February 2021 |
| Close Date | 25th February 2021 |
| Basis of Allotment Date | 02nd March 2021 |
| Initiation of Refunds | 03rd March 2021 |
| The credit of shares to Demat Account | 04th March 2021 |
| Listing Date | 05th March 2021 |
Allocation Quota:
| Category | Portion |
| Qualified Institutional Buyers (QIBs) | Not more than 50% |
| Non- Institutional Buyers (NIIs) | Not less than 15% |
| Retail Investors | Not less than 35% |
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