Heranba Industries IPO
Heranba Industries Limited (HERANBA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 05 March 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +38.8% (likely range +25% to +53%), day's high +47.6%, chance of a gain 97%. Actual: +43.5% at the open, +50.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 19,95,448 | 13,45,88,157 | 67.4x | |
| NII (HNI) total | 14,95,791 | 40,55,88,923 | 271x | |
| Retail | 34,90,178 | 4,13,24,583 | 11.8x | |
| Total | 69,81,417 | 58,15,01,663 | 83.3x |
Bids on NSE and BSE together, as published by NSE, as of 25 Feb 2021, 05:00 PM. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Heranba Industries's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Thyrocare TechnologiesApr 2016 | 73.2x | 225x | 8.73x | 73.5x | ₹479 Cr | +49.1% | +49.1% |
| Affle IndiaJul 2019 | 55.3x | 199x | 11.0x | 86.5x | ₹457 Cr | +24.3% | +28.7% |
| Route MobileSep 2020 | 89.8x | 193x | 12.7x | 73.3x | ₹609 Cr | +104.9% | +110.0% |
| RITESJun 2018 | 71.7x | 195x | 15.7x | 67.2x | ₹799 Cr | +2.7% | +21.4% |
| Rossari BiotechJul 2020 | 85.3x | 240x | 7.23x | 79.4x | ₹496 Cr | +57.5% | +89.0% |
| Advanced Enzyme TechnologiesJul 2016 | 94.0x | 393x | 11.7x | 116x | ₹413 Cr | +35.0% | +38.8% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Emkay Global Financial Services | 10 | +16.7% | 60% |
| Batlivala & Karani Securities India | 2 | +30.1% | 100% |
Offer documents (NSE)
Frequently asked
What is the Heranba Industries IPO price band and lot size? ₹626–627 per share, with a lot of 23 shares, so the smallest retail bid is ₹14,421.
How many times has it been subscribed? 83.3x overall: QIB 67.4x, NII 271x, retail 11.8x.
How did it list? It opened at ₹900, +43.5% against the issue price of ₹627, and closed its first day +29.6%.
