Mumbai: 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 10 each.

The issue is priced at 145-156 per share and the company intends to raise 352 crore at the upper end of the price band. The offer opens on 5 September and closes on 9 September . Post issue, shareholding of the promoters in the company will fall to 75% from the current 84.13%.

The aim of the issue is to get the benefit of listing on bourses and to carry out the sale of the stake of shareholders HEP Mauritius, Sharda R. Bubna and Ramprakash V. Bubna.

The company is engaged in the marketing and distribution of a wide range of formulations and generic active ingredients globally. The company is also involved in order-based procurement and supply of belts, general chemicals, dyes and dye intermediates. It owns over 1,040 registrations for formulations and over 155 registrations of for generic active ingredients across Europe, Latin America and 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 core 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 here.

“Our objective is to continue to offer quality formulations and generic active ingredients. We also intend to expand our reach in 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.

The equity shares are proposed to be listed on the BSE and the National Stock Exchange of India Ltd.