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Mumbai-based crop protection chemical company Sharda Cropchem is set to open its initial public offer of 2.3 crore equity shares on September 5, 2014. It is the second IPO after the Narendra Modi-led government came to power at the Centre in May. The company aims to raise around Rs 327-352 crore at a price band of Rs 145-156 a share through the issue, which will close for subscription on September 9. The purpose of the public issue is to carry out sale of 2,25,55,124 equity shares by selling shareholders (HEP Mauritius, Ramprakash V Bubna and Sharda R Bubna) and achieve the benefits of listing equity shares on exchanges - BSE and NSE. Bubna family - promoter and promoter group - will reduce their stake in the company from 84.13 percent currently to 75 percent and non-institutional investor HEP Mauritius will offload its entire stake of 15.87 percent. Sharda Cropchem is a crop protection chemical company engaged in the marketing and distribution of a wide range of formulations and generic active ingredients globally. It is also involved in order based procurement and supply of belts, general chemicals, dyes and dye intermediates. Net profit of the company in FY14 grew by 26.8 percent year-on-year to Rs 106.9 crore compared to previous financial year supported by other income and lower depreciation. Revenue rose by 0.54 percent to Rs 781.9 crore during the same period. Edelweiss Financial Services Limited and IDFC Capital Limited are book running lead managers to the issue while Karvy Computershare Private Limited is the registrar.
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
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Mumbai-based crop protection chemical company Sharda Cropchem is set to open its initial public offer of 2.3 crore equity shares on September 5, 2014. It is the second IPO after the Narendra Modi-led government came to power at the Centre in May. The company aims to raise around Rs 327-352 crore at a price band of Rs 145-156 a share through the issue, which will close for subscription on September 9. The purpose of the public issue is to carry out sale of 2,25,55,124 equity shares by selling shareholders (HEP Mauritius, Ramprakash V Bubna and Sharda R Bubna) and achieve the benefits of listing equity shares on exchanges - BSE and NSE. Bubna family - promoter and promoter group - will reduce their stake in the company from 84.13 percent currently to 75 percent and non-institutional investor HEP Mauritius will offload its entire stake of 15.87 percent. Sharda Cropchem is a crop protection chemical company engaged in the marketing and distribution of a wide range of formulations and generic active ingredients globally. It is also involved in order based procurement and supply of belts, general chemicals, dyes and dye intermediates. Net profit of the company in FY14 grew by 26.8 percent year-on-year to Rs 106.9 crore compared to previous financial year supported by other income and lower depreciation. Revenue rose by 0.54 percent to Rs 781.9 crore during the same period. Edelweiss Financial Services Limited and IDFC Capital Limited are book running lead managers to the issue while Karvy Computershare Private Limited is the registrar.
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
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