Crystal Crop Protection files DRHP with SEBI for Rs 1,000 crore IPO
IPO to consist of a fresh issue worth Rs 545 crore along with an offer sale of up to Rs 455 crore.
April 05, 2018 / 11:30 AM IST
Crystal Crop Protection on Thursday filed a draft red herring prospectus (DRHP) with the market regulator SEBI for its initial public offering (IPO) of Rs 1,000 crore.
The R&D based crop protection manufacturing and marketing company’s IPO consists of a fresh issue worth Rs 545 crore along with an offer sale of up to Rs 455 crore with promoter, selling shareholders and investor selling shareholder by Everstone Capital Partners II LLC.
While the price band has not been decided yet, it will be done so in consultation with book running lead managers, BRLMs). The face value of these shares will be Rs 10.
The company plans to utilize the proceeds towards prepayment/ repayment of certain working capital facilities, funding acquisitions and other strategic initiatives along with general corporate purposes.
ICICI Securities Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, Nomura Financial Advisory and Securities (India) Private Limited are BRLMs to the issue. Meanwhile, SMC Capitals Limited is the Co-BRLM.
The company’s products cater to the entire lifecycle of crops, from sowing to harvesting and provides crop protection solutions.