Crystal Crop Protection To Raise Up to Rs 456 Cr via IPO; Issue Opens on Nov 18

New Delhi: Crop solutions firm Crystal Crop Protection Ltd will raise up to Rs 456 crore through its initial public offering (IPO), which will open for subscription on November 18.

The price band for the issue has been fixed at Rs 259-272 per equity share, valuing the company at Rs 4,438 crore at the top end.

The three-day public issue will close on November 20, while bidding for anchor investors will take place on November 17, according to a public announcement on Friday.

The IPO comprises a fresh issue of equity shares aggregating up to Rs 355 crore and an Offer for Sale (OFS) of shares worth up to Rs 101 crore.

Proceeds from the fresh issue will be utilised towards repayment of debt availed by the company and its subsidiary, Saffire Crop Science, funding inorganic growth through unidentified acquisitions and strategic initiatives, and meeting general corporate purposes.

Founded in 1994, Crystal Crop Protection is a crop solutions company with agrochemicals and seeds at the core of its offerings.

Its diversified portfolio includes crop protection products such as herbicides, fungicides and insecticides, along with natural crop solutions, including bio-stimulants, bio-protectants, plant growth regulators, liquid fertilisers and micronutrients. Its seeds portfolio caters to field crops, vegetable crops and flowers.

DAM Capital Advisors, IIFL Capital Services and Motilal Oswal Investment Advisors are the book-running lead managers to the issue, while MUFG Intime India is the registrar.

The equity shares are proposed to be listed on the BSE and the National Stock Exchange (NSE).

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)