The initial public offering (IPO) of Sharda Cropchem has received 60 times subscription on closing on Tuesday. It had entered the capital market on September 5 with its initial public offering of 22,555,124 equity shares of face value of Rs 10 each, at a price band of Rs 145-Rs 156.
The IPO received massive response with the QIB portion getting subscribed by 32.06 times and non-institutional 251.35 times. The issue saw overwhelming retail participation at 5.74 times.
Edelweiss Financial Services Limited and IDFC Securities are the book running lead managers to the offer, and Karvy Computershare is the registrar to the offer.
Sharda Cropchem is a crop protection chemical company engaged in the marketing and distribution formulations and generic active ingredients globally.
The equity shares are proposed to be listed on the BSE and the National Stock Exchange of India (NSE).
