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Crop protection chemicals firm Sharda Cropchem has fixed the price band of its initial public offering between ₹145 and ₹156. It opens for subscription on September 5 and closes on September 9.
The IPO is an offer-for-sale for over 2.2 crore shares from its promoters and constitutes 25 per cent of its post-offer share capital. The company will not receive any offer proceeds as the issue is an offer-for-sale.
At the higher end of the price band, the stake sale will bring in ₹351.86 crore. The shares would be listed on the NSE and the BSE.
Edelweiss Financial Services and IDFC Securities are the merchant bankers to the issue and Karvy Computershare, the registrar.
Sharda Cropchem is in the business of marketing and distribution of formulations and genetically active ingredients in the agrochemicals space (fungicides, herbicides and insecticides) globally.
The company’s non-agrichemical business constitutes supply of heavy duty conveyor belts, general chemicals, dyes and dye-intermediates in over 35 countries.
For FY14, the company had revenues of ₹532 crore and a net profit of ₹85 crore.
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