NEW DELHI: As the bears tighten their grip on the broader market, Dalal Street is warming up for another primary offering; that of Heranba Industries.
The grey market has given a thumbs up to the issue, with the premium in the unofficial market surging to Rs 200-210, which translates into one-third, or 33 per cent, of the IPO price band at Rs 626-627.
The primary market has remained jubilant in the past few months, as new-age investors are lapping up almost every issue, trying to make a quick buck. And the grey market has been celebrating the same.
Heranba Industries, a Gujarat-based crop protection chemicals manufacturer, is likely to sweep up Rs 625 crore via its initial public offering. The IPO will open for subscription on Tuesday, February 23, and close on Thursday, February 25.