Crystal Crop Protection has fixed the price band for its maiden public issue at Rs 259 to Rs 272 per share. The New Delhi-based agrochemicals and seeds company will open its Rs 455.49-crore initial public offering for subscription on Wednesday, November 18, and the issue will close on Friday, November 20.
The shares are proposed to list on the National Stock Exchange and the BSE on November 26, with the allotment expected to be finalised on November 23. Anchor investors get their window a day earlier, on November 17.
What the issue offers
The IPO is a book-built issue of 1.68 crore equity shares. It has two parts. A fresh issue of 1.31 crore shares will raise Rs 354.77 crore for the company, while promoter Ankur Aggarwal will sell 37.03 lakh shares worth Rs 100.71 crore through an offer for sale. Aggarwal is the only shareholder selling in the offer, so the company itself will not receive any money from the OFS portion.
Investors can bid for a minimum of one lot of 55 shares, and in multiples of 55 after that. At the upper end of the price band, one lot costs Rs 14,960. At the lower end, the same lot costs Rs 14,245. The face value of each share is Rs 10, which means the upper end of the band is 27.2 times the face value.
Eligible employees bidding in the employee reservation portion will get a discount of Rs 25 per share.
Issue size was trimmed before launch
The issue reaching the market this week is smaller than what the company first planned. About a month ago, Crystal Crop Protection cut the fresh issue from Rs 600 crore to Rs 439.2 crore and halved the offer for sale from 74.05 lakh shares to 37.02 lakh shares.
The fresh issue shrank further after a pre-IPO private placement in which the company raised Rs 84.2 crore by issuing shares at Rs 272.07 apiece. That brought the fresh issue down to its present size of Rs 354.77 crore.
At the upper end of the price band, the company is seeking a market capitalisation of Rs 4,438.1 crore.
What the company does
Crystal Crop Protection was founded in 1994 and is headquartered in New Delhi. It makes and sells agrochemicals, natural crop solutions and seeds, serving farmers across India. The company is backed by the International Finance Corporation, the private-sector arm of the World Bank group.
Part of the money raised through the fresh issue will go towards repaying borrowings. The company’s consolidated borrowings stood at Rs 962.6 crore as of August 2026, and debt reduction is one of the stated objectives of the public issue.
Key dates investors should note
- Anchor book opens: November 17, 2026
- Public subscription: November 18 to November 20, 2026
- Allotment finalisation: November 23, 2026
- Tentative listing: November 26, 2026, on NSE and BSE
- Price band: Rs 259 to Rs 272 per share
- Lot size: 55 shares, minimum investment Rs 14,960 at the upper end
IIFL Capital Services, DAM Capital Advisors and Motilal Oswal Investment Advisors are the book-running lead managers to the issue. MUFG Intime India is the registrar.
The IPO arrives in a busy season for new listings, with several mainboard issues lined up for the second half of November. For retail investors, the decision will come down to the price they are comfortable paying for a crop-solutions business that is using its first public issue to cut debt and fund growth. Applying for an IPO does not guarantee listing gains or profits, and investors should read the offer documents before bidding.
FAQs
When does the Crystal Crop Protection IPO open?
The IPO opens for subscription on Wednesday, November 18, 2026, and closes on Friday, November 20, 2026.
What is the price band of the Crystal Crop IPO?
The price band is fixed at Rs 259 to Rs 272 per equity share, with a face value of Rs 10 per share.
How much does one lot cost in the Crystal Crop IPO?
One lot is 55 shares. At the upper end of the price band, a retail investor needs Rs 14,960 to apply for one lot. At the lower end, the cost is Rs 14,245.
When will Crystal Crop Protection shares list?
The shares are proposed to list on the NSE and BSE on November 26, 2026, with the allotment expected to be finalised on November 23.
What does Crystal Crop Protection do?
Founded in 1994 and based in New Delhi, the company makes agrochemicals, natural crop solutions and seeds. It is backed by the International Finance Corporation.
Investors tracking the issue can watch the subscription numbers from November 18, when bidding opens.
