Heranba Industries Limited has announced the conversion of Inter-Corporate Deposits (ICDs) amounting to ₹450 Crores, granted to its wholly-owned subsidiary, Heranba Organics Private Limited (HOPL), into Optionally Fully Convertible Debentures (OFCDs). The OFCDs, each with a face value of ₹10, were allotted by HOPL to Heranba Industries Limited on May 07, 2026, at par. This transaction is an adjustment and set-off against the existing unsecured ICDs. HOPL, which operates in the Agro Chemicals sector and was incorporated on August 29, 2022, had a turnover of ₹220.58 Crores in FY 2024-25. The company's authorized share capital is ₹15,00,000 and its issued & paid-up share capital is ₹10,00,000. The conversion does not involve any fresh cash outflow and is part of the internal debt restructuring for the subsidiary. Heranba Industries Limited continues to hold 100% of the equity share capital and control of HOPL both prior to and after the transaction. Common directors exist on the boards of both entities, and the transaction is undertaken on an arm's-length basis.
