InvestorQ : How was the listing of Heranba Industries on the bourses on 05 March?
Riya Dwivedi made post

How was the listing of Heranba Industries on the bourses on 05 March?

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shrinidhi Rajan answered.
2 months ago
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Heranba Industries listed on the NSE at Rs.900, indicating a premium of over 43% to the issue price of Rs.627. During the day, the stock touched a high price of Rs.945 on the NSE and a low of Rs.796 but eventually closed the day at Rs.826, over 8% below the listing price. However, the stock continues to trade at a premium to the issue price. Heranba is a Gujarat based specialty chemicals company and the IPO was heavily oversubscribed.

The overall oversubscription to the IPO stood at 83X with the QIB 67X, HNI 271X and the retail portion oversubscribed 11X. The heavy HNI oversubscription indicates that there was a lot of funding applications so that could result in some offloading pressure in the next few sessions and the price may come under pressure. For FY20, Heranba recorded total revenues of Rs.968 crore and PAT of Rs.98 crore.

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