Crop protection chemical company Sharda CropChem plans to enter the capital market with its initial public offering (IPO) of 22,555,124 equity shares of face value of Rs. 10 each. The equity shares are proposed to be listed on the BSE and the National Stock Exchange of India Ltd.
The issue is priced at Rs.145-352 per share and the company intends to raise Rs.352 crore at the upper end of the price band. Post issue, shareholding of the promoters in the company will fall to 75% from the current 84.13%.
The company is engaged in the marketing and distribution of a wide range of formulations and generic active ingredients globally. It owns over 1,040 registrations for formulations and over 155 registrations for generic active ingredients across Europe, Latin America, and the rest of the world.
As of August 2014, it has filed over 500 applications for seeking registrations globally which are pending at different stages. "Our competency lies in identifying opportunities in generic molecules and corresponding formulations and generic active ingredients, preparing dossiers and seeking registrations in the relevant jurisdictions. We are seeking registrations in different countries," SCL chairman and managing director R.V. Bubna told reporters.
"Our objective is to continue to offer quality formulations and generic active ingredients. We also intend to expand our reach into various jurisdictions through our own sales force, in an efficient manner. To sustain our future growth and development we will continue to concentrate on forward integration through our own sales force and strengthen our distribution presence in existing and new markets." Bubna said.