Gujarat-based agrichemicals manufacturer Heranba Industries will launch its initial public offering (IPO) on February 23. The issue for the same will close on February 25.

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The shares of the company will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

According to a note shared by Anand Rathi, Heranba Industries is a crop protection chemical manufacturer, exporter and marketing company based out of Vapi, Gujarat with administration offices in Mumbai. It manufactures intermediates, technicals and formulations and is one of the leading domestic producers of synthetic pyrethroids like cypermethrin, alphacypermethrin, deltamethrin, permitherin, lambda cyhalothrin etc. Its pesticides range includes insecticides, herbicides, fungicides and public health products for pest control.

Here are key things to know about the company and its IPO:

Lot size

The lot size of the Heranba Industries IPO is 23 shares.

Allotment and listing date

The share allocation of Heranba IPO is likely to be finalized on March 2 and listing may happen on March 5, according to brokerages.

Price band

The price band of the issue has been fixed at Rs 626-627 per share of the face value of Rs 10 each.

Offer for sale

The IPO comprises an offer for sale (OFS) of up to 90.15 lakh equity shares and a fresh issue of Rs 60 crore shares, according to the company’s red herring prospectus. The company plans to raise up to Rs 625 crore from the issue.

The OFS consists of 58,50,000 equity shares by Sadashiv K Shetty, 22,72,038 shares by Raghuram K Shetty, 8,12,962 shares by Sams Industries, 40,000 shares by Babu K Shetty and 40,000 shares by Vittala K Bhandary.

Book running lead managers

Emkay Global Financial Services and Batlivala & Karani Securities India are the book-running lead managers to the IPO.

Registrar to the offer

Bigshare Services is the registrar of the issue.

Should one subscribe?

Considering the company's dominant position in pyrethroids market, strong balance sheet, high RNW of 30.47 percent as per FY20 financial statements, strong management and reasonable valuations, Anand Rathi has given the IPO a ‘subscribe' rating.