Heranba Industries' Rs 625-crore IPO, which was subscribed a massive 83.29 times, is likely to finalise the basis of share allotment on Tuesday, March 2, 2021
Heranba Industries shares were trading at Rs 882 apiece, implying a grey market premium of 40.66 per cent from its issue price.
Heranba Industries’ Rs 625-crore IPO, which was subscribed a massive 83.29 times, will finalise the basis of share allotment on Tuesday, March 2, 2021. The issue was sold in the price band of Rs 626-627 per share from February 23 to 25. Equity shares of the Gujarat-based crop protection chemical manufacturer are expected to be listed on March 5 on bourses. In the grey market on Tuesday, Heranba Industries shares were seen quoting a premium of Rs 255 over the IPO price. Heranba Industries shares were trading at Rs 882 apiece, implying a grey market premium of 40.66 per cent from its issue price.
Those who had placed bids for Heranba Industries issue can check the subscription status on the registrar’s website, i.e. from Bigshare Services’ web portal, a SEBI-registered entity that processes all applications electronically, and responsible for the IPO allotment and refund processing. Another way of checking IPO allotment is through stock exchanges, i.e. from the BSE website. AR Ramachandran, Co-founder & Trainer, Tips2Trades, told Financial Express Online that due to relatively bullish market sentiment and strong fundamentals, Heranba Industries is expected to open at a premium of at least 18-25 per cent on listing day. “Allotted investors should book partial profits. Investors who haven’t subscribed or haven’t received allotment should wait for a dip to re-enter near 650-660 levels for better returns,” Ramachandran added.
How to check Heranba Industries share allotment status via Bigshare Services’ website
To check the share allotment status, select the company name as ‘Heranba Industries Ltd’ from the drop-down list on the Bigshare Services website when it gets declared. Select the selection type as either Application number/ CAF no, Beneficiary ID or PAN number. Accordingly, enter the required data to fetch the information.
Check Heranba Industries share allotment status via BSE website
Another way to check the allotment status in Heranba Industries is through BSE website (https://www.bseindia.com/investors/appli_check.aspx). Select the issue type as ‘equity’, and the issue name as ‘Heranba Industries Ltd’ from the drop-down list, when it gets declared. After that enter the application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.
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