Crystal Crop Protection IPO opens Nov 18: Check price band, lot size and key dates

Crop solutions company Crystal Crop Protection Limited's ₹455.48 crore initial public offering will hit the primary market on November 18. The issue will end on November 20. The bidding for anchor investors will occur on November 17. The price band has been fixed at ₹259 to ₹272 per share.

The initial share sale is a mix of a fresh issuance of shares valued at ₹354.77 crore and an offer for sale (OFS) component of ₹100.71 crore by promoter Ankur Aggarwal.

The net proceeds from the fresh issue will be used for repayment of certain borrowings availed by the company and its material subsidiary, namely Saffire Crop Science Private Limited. Funds will also be used for inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes.

"We expect to achieve the benefit of listing of the equity shares on the stock exchanges, enhancement of our company’s visibility and brand name amongst our existing and potential customers and creation of a public market for the equity shares in India," the company said.

Crystal Crop Protection IPO lot size

A lot consists of 55 shares and is in multiples thereafter. Half of the net offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Crystal Crop Protection IPO: Allotment and listing date

The company's shares will be listed on the National Stock Exchange (NSE) and the BSE.

Crystal Crop Protection, established in 1994, is a crop solutions company with seeds and agrochemicals at the core of its offering. Its diversified portfolio includes (1) products for crop protection like herbicides, insecticides, fungicides and natural crop solutions such as bio-protectants, bio-stimulants, liquid fertilisers, plant growth regulators and micro nutrients; and (2) seeds for field crops, vegetable crops and flowers.