InvestorQ : How was the response to the Heranba Industries IPO, which closed on 25 February?
Anamika Sodhani made post

How was the response to the Heranba Industries IPO, which closed on 25 February?

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Angel dcosta answered.
4 months ago
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The IPO of Heranba Industries, the agrochemical manufacturer and distributer based out of the state of Gujarat, got a good response at the close of the last day of the IPO on the 25 February. The IPO of Heranba Industries was subscribed 83.29 times on an overall basis with the final numbers including late matches yet to be announced.

If you break up the overall subscription into the various investor components, then the qualified institutional buyers or QIB portion was subscribed 64.45 times. In addition, the retail portion was subscribed by 11.84 times while the non-institutional HNI portion was subscribed by an extremely robust 271.25 times, largely on the back of IPO funding.

Heranba is a Gujarat-based agrochemicals company and what worked in its favour in eliciting this response was that it has a strong balance sheet combined with low leverage. The predominant portion of the IPO is the offer for sale by the promoters or the OFS portion. Post the OFS issue, the shareholding of promoters will stand reduced to 74%, from the 98.8% holding that they have currently.

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