Crystal Crop Protection to Launch Rs 455 Crore IPO on November 18
The Indian agricultural inputs company is launching its maiden public offering, comprising a fresh issue of Rs 355 crore and an offer for sale of 3.7 million shares by promoter Ankur Aggarwal.
13 November 2026, Mumbai: Crystal Crop Protection Limited has fixed the price band for its initial public offering (IPO) at Rs 259–272 per equity share, with a face value of Rs 10 each. The IPO will open for subscription on November 18, 2026, and close on November 20, 2026.
The public offering marks a development for the company, which operates across India’s agricultural inputs sector with businesses spanning agrochemicals, natural crop solutions and seeds. Its portfolio covers crop protection products, biological solutions, plant growth regulators, fertilisers, micronutrients and seeds for different crop segments.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 355 crore and an offer for sale (OFS) of 3,702,694 equity shares by promoter Ankur Aggarwal. Based on the price band, the total issue size is approximately Rs 450.90 crore at the lower end and Rs 455.71 crore at the upper end.
Investors can bid for a minimum of 55 equity shares and in multiples of 55 shares thereafter.
Business Portfolio Across Crop Protection, Natural Solutions and Seeds
Crystal Crop Protection operates as a crop solutions company with agrochemicals and seeds at the core of its business. Its crop protection portfolio includes herbicides, fungicides, insecticides and combinations thereof.
The company also offers natural crop solutions, including biostimulants, bioprotectants, plant growth regulators, liquid fertilisers and micronutrients. These products are positioned to complement its existing crop protection portfolio and provide farmers with integrated crop management solutions.
Its seeds business covers field crops, vegetable crops and flowers. The company develops products customised for Indian farmers through research and development activities, including collaborations with multinational companies.
Crystal Crop Protection follows an integrated operating model that combines research and development in crop protection products and natural crop solutions with seed breeding programmes. Its operations also encompass technology-enabled manufacturing, technical-grade active ingredients used in agrochemical formulations and pan-India distribution.
Utilisation of IPO Proceeds
The proceeds from the fresh issue will primarily be directed towards debt repayment and the company’s growth initiatives.
Crystal Crop Protection plans to allocate Rs 247.9 crore towards repayment or prepayment, in full or part, of certain borrowings availed by the company.
An additional Rs 22 crore will be invested in its material subsidiary, Saffire Crop Science Private Limited, to support repayment or prepayment of its outstanding borrowings.
The remaining proceeds will be used for inorganic growth through unidentified acquisitions and strategic initiatives, along with general corporate purposes.
IPO Structure and Investor Allocation
The IPO will be conducted through the book-building process in accordance with the Securities and Exchange Board of India’s (SEBI) Issue of Capital and Disclosure Requirements (ICDR) Regulations.
Not more than 50% of the net offer will be reserved for Qualified Institutional Buyers (QIBs), while not less than 15% will be allocated to Non-Institutional Investors (NIIs). Retail Individual Investors (RIIs) will have a reservation of not less than 35%.
IIFL Capital Services, DAM Capital Advisors and Motilal Oswal Investment Advisors are the book-running lead managers for the issue. MUFG Intime India Private Limited is the registrar.
Crystal Crop Protection IPO: Issue Size
| Particulars | Lower Price Band (Rs 259) | Upper Price Band (Rs 272) |
| Fresh Issue | Rs 355 crore | Rs 355 crore |
| Offer for Sale | Rs 95.90 crore | Rs 100.71 crore |
| Total Issue Size | Rs 450.90 crore | Rs 455.71 crore |
The offer for sale comprises 3,702,694 equity shares held by promoter Ankur Aggarwal.
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