Heranba IPO Subscription Status: FINAL
| Investor Category | Quota | Subscription |
|---|---|---|
| Institutional (QIB) | 50% | 67.45x |
| Non-Insti. (HNI) | 15% | 271.15x |
| Retail (RII) | 35% | 11.84x |
| Total Subscription | 100% | 83.29x |
Heranba Industries Limited, incorporated in 1996 , is a crop protection chemical manufacturer, exporter and marketing company based out of Vapi, Gujarat. It manufactures Intermediates, Technicals and Formulations. It is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrinetc.
Heranba IPO Subscription: End of Day Update
| Day | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00x | 1.01x | 67.45x |
| HNI | 0.09x | 0.87x | 271.15x |
| Retail | 1.64x | 4.53x | 11.84x |
| Total | 0.85x | 2.74x | 83.29x |
Heranba IPO: Analyst Recommendations
Anand Rathi – subscribe
” Considering the company’s dominant position in pyrethroids market, strong balance sheet, high RoNW of 30.47% as per FY20 financial statements, strong management and reasonable valuations; we give this IPO a ‘subscribe’ rating.”
GEOJIT – SUBSCRIBE
“At the upper price band of Rs.627, Heranba Industries is available at P/E of 18.9x (annualized basis on FY21E EPS of Rs.33.2) which is reasonable compared to its peers.”
SMC GLOBAL – SUBSCRIBE
“Looking at the P/B ratio at Rs 627 the stock is priced at P/B ratio of 6.42x on the pre issue book value of Rs.97.62 and on the post issue book value of Rs 126.85 the P/B comes out to 4.94x”
Heranba IPO Subscription: Key IPO Details
| Type | Value |
|---|---|
| Issue Size | ₹685.24 Cr |
| Issue Open | 23/02/2020 10:00 AM |
| Issue Close | 25/02/2020 05:00 PM |
| Face Value | ₹10/- per Equity Share |
| IPO Price | ₹626 – ₹627 |
| Lot Size | 23 shares |
Financials
| 2018 | 2019 | 2020 Mar | 2020 Sep | |
|---|---|---|---|---|
| Revenue from Ops | 7,45.10 Cr | 1,004.44 Cr | 951.37 Cr | 618.34 |
| Profit before Tax | 76.31 Cr | 122.12 Cr | 128.84 Cr | 90.08 |
| Profit after Tax | 46.88 Cr | 75.40 Cr | 97.75 Cr | 66.31 |
| EPS (Basic) | 12 | 19.31 | 25.03 | 16.98 |
Price to Earnings Peer Comparison
| Company | 2020 EPS* | P/E^ |
|---|---|---|
| Heranba | 25.03 | 25.04 |
| Punjab Chemicals | 8.77 | 97.23 |
| Bharat Rasayan | 371.03 | 26.87 |
| Sector P/E | – | 48.58 |
Heranba IPO Subscription – FAQs
1. How to apply for Heranba IPO in Retail Category?
A: An investor in retail category may either apply through the UPI process via DEMAT account or the ASBA process via bank account
2. How to apply for Heranba IPO in HNI Category?
A: An investor can apply in HNI category only through the ASBA process via bank account
3. Where can I find the Red Herring Prospects (RHP) details?
A: You can visit the NSE or SEBI website for these details. Alternately you can click here: RHP and DRHP
