Crystal Crop Protection to raise up to ₹456 cr via IPO; issue opens on Nov 18
The price band for the issue has been fixed at ₹259-272 per equity share, valuing the company at ₹4,438 crore at the top end
Crystal Crop Protection Ltd, a GBV crop solutions firm, plans to raise up to ₹456 crore through its initial public offering (IPO), set to begin on November 18. The price range for the shares has been set between ₹259 and ₹272 per share, suggesting a valuation of ₹4,438 crore at the upper limit. The three-day public issue will conclude on November 20, with anchor investor bidding commencing on November 17.
The IPO consists of a new issue of equity shares amounting to up to ₹355 crore and an Offer for Sale (OFS) of up to ₹101 crore. These funds will be used to repay the company's and its subsidiary, Saffire Crop Science's, debt, fund inorganic growth via undisclosed acquisitions, and meet general corporate needs. Established in 1994, Crystal Crop Protection specializes in agrochemicals and seeds, offering crop protection products like herbicides, fungicides, and insecticides, as well as natural solutions such as bio-stimulants, bio-protectants, plant growth regulators, liquid fertilizers, and micronutrients.
Its seed offerings cater to field crops, vegetables, and flowers. The shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) with DAM Capital Advisors, IIFL Capital Services, and Motilal Oswal Investment Advisors serving as the book-runners, while MUFG Intime India acts as the registrar.
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