Hemani Industries files IPO papers for Rs 2,000-cr

March 30, 2022

Hemani Industries IPO will comprise fresh issue of equity shares aggregating up to ₹ 500 crore and an OFS of equity shares worth up to ₹ 1,500 crore by its promoters. Agrochemical manufacturer Hemani Industries Ltd has filed preliminary papers with Sebi to raise ₹ 2,000 crore through an initial public offering. According to the Draft Red Herring Prospectus (DRHP), OFS comprises offloading of up to ₹ 500 crore worth of shares each by Jayesh Mohan Dama, Minal Mohan Dama and Mohan Sunderji Dama. The Initial Public Offering will comprise fresh issue of equity shares aggregating up to ₹ 500 crore and an Offer For Sale of equity shares worth up to ₹ 1,500 crore by its promoters.

The company may consider a pre-IPO placement of up to ₹100 crore. The company will use the net proceeds worth ₹ 129.71 crore for funding the capital expenditure requirement for the capacity expansion at Saykha industrial estate and ₹ 48.34 crore for repayment or pre-payment of certain borrowings. Besides, ₹ 93.87 crore will be utilized for repayment and investment or prepayment of certain borrowings in its wholly-owned subsidiary HCCPL and ₹150 crore for funding the company’s long term working capital requirement.
The proceeds will also be used for general corporate purposes. AgroChem pride ourselves in being the liquid handling experts. AgroChem INC, founded in 1975, is a family owned and operated business with retail facilities in Wabash, IN and Wilmington, OH.

AgroChem is one of the largest suppliers of spray and fertilizer application equipment and accessories in the Eastern corn belt. AgroChem serves farmers, fertilizer dealers, implement dealers, right-of-way application, lawn care or landscaper companies, golf courses, and aerial applicators.

Hemani Industries Limited

Hemani Industries Limited established in the year 1992, built by a very dynamic and a strong visionary Mr. Mohan Dama in a 2000 square metre of land in Ankleshwar, Gujarat, India. Today, Hemani Industries Limited is spread across 250000 square metre at three facilities in Gujarat. Hemani Industries Limited, Dahej was started in 2010 with the capacity of 260MT per month exclusively for the manufacturing of Pyrethroids which now includes 15 active ingredients with the total capacity of 1200MT per month.


This increase in the number of active ingredients produced in the company has been achieved due to the state of the art R&D centre and excellent team of professionals working every day. The founders of the company firmly believes in self-sufficiency which is exemplified in the backward integration that the company has achieved for almost all of its products. Hemani Industries Limited also has global tie ups with multinational companies to achieve benefits in synergy. Hemani Industries is one of the fastest growing agrochemical companies in India with a broad portfolio of Insecticides, Herbicides, Fungicides, it’s formulations and Intermediates.

Source: Business standard

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