New Delhi, Dec 22 (PTI) Crop solutions firm Crystal Crop Protection has filed draft papers with the market regulator Sebi to mobilise funds through an initial public offering (IPO) comprising a fresh issue
of shares worth Rs 600 crore.
Apart from fresh issues, there will be an offer for sale (OFS) of 74,05,387 shares by promoters and investors, according to the draft red herring prospectus (DRHP).
As a part of the OFS, existing investors -- International Finance Corporation and IFC Emerging Asia Fund LP -- would offload shares.
Proceeds from the fresh issue would be used for debt payment of the company as well as its subsidiary, Saffire Crop Science, funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes, draft papers showed.
Founded in 1994, Crystal Crop Protection is a crop solutions company with agrochemicals and seeds at the core of offering. Its diversified portfolio includes products for crop protection such as herbicides, fungicides, insecticides and natural crop solutions like bio-stimulants, bio-protectants, plant growth regulators, liquid fertilizers and micronutrients; and seeds such as for field crops, vegetable crops and flowers.
According to the F and S Report, the Indian crop protection industry was valued at about USD 5.52 billion in Fiscal 2025, up from USD 4.05 billion in Fiscal 2020, and is expected to reach about USD 8.5 billion by Fiscal 2030.
IIFL Capital Services, DAM Capital Advisors and Motilal Oswal Investment Advisors have been appointed as merchant bankers to assist the company in its maiden public offering.
Earlier, the company had filed preliminary IPO papers in 2018 for raising Rs 1,000 crore and obtained Sebi's approval too but didn't proceed with the launch. PTI SP SP MR
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