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.
