Key Takeaways
- Crystal Crop Protection has filed draft papers with SEBI for a proposed initial public offering.
- The IPO includes a fresh issue of shares worth approximately USD 66 million and an offer-for-sale by existing shareholders.
- IFC and IFC Emerging Asia Fund are among the selling shareholders in the offer-for-sale.
- Promoters currently hold 86.69% of the company prior to the IPO.
- Proceeds from the fresh issue include a planned pre-IPO placement of approximately USD 13.2 million.
Crystal Crop Protection Submits IPO Papers to SEBI
Crystal Crop Protection, a New Delhi–based crop solutions company backed by the International Finance Corporation (IFC), has filed draft red herring prospectus (DRHP) papers with the Securities and Exchange Board of India (SEBI) to raise capital through an initial public offering.
According to the filing, the company plans to raise approximately USD 66 million through a fresh issue of equity shares. In addition, existing shareholders, including promoters and financial investors, will sell 7.405 million shares through an offer-for-sale.
Structure of the Proposed Crystal Crop Protection IPO
Fresh Issue and Offer-for-Sale Details
The fresh issue includes a pre-IPO placement of up to approximately USD 13.2 million, as disclosed in the DRHP filed on December 17. If the pre-IPO placement is completed, the size of the fresh issue will be reduced accordingly.
The offer-for-sale will include shares sold by the promoter group, led by the Aggarwal family, as well as institutional investors. Selling shareholders include the International Finance Corporation and its subsidiary, IFC Emerging Asia Fund.
Shareholding Structure Prior to Crystal Crop Protection's IPO
Promoter and Public Ownership
Prior to the IPO, promoters hold 86.69% of Crystal Crop Protection. Public shareholders account for the remaining equity, with IFC and IFC Emerging Asia Fund collectively holding 8.48% of the company’s shares. The remaining 4.83% stake is held by the Crystal Crop Protection Employees Welfare Trust.
The offer-for-sale enables partial monetisation by existing shareholders while maintaining promoter ownership following the public listing.
Market Context
Crystal Crop Protection operates across India’s crop solutions market, supplying products in crop protection, seeds, and related agricultural inputs. The IPO filing reflects continued interest from agri-input companies in accessing public markets to support growth, strengthen balance sheets, and provide liquidity to early investors.
Further details on the use of proceeds, financial performance, and risk disclosures are outlined in the draft prospectus filed with SEBI.
