IFC-backed Crystal Crop Protection files IPO papers with fresh issue of Rs 600 crore, plans to reduce debt

Crystal Crop Protection IPO News

International Finance Corporation-backed Crystal Crop Protection, the New Delhi-based crop solutions company, has tapped capital markets by filing preliminary papers with the SEBI to raise funds via initial public offering (IPO).

The company proposed to mobilise Rs 600 crore by issuing fresh shares, while existing shareholders including promoters will be selling 74.05 lakh shares via offer-for-sale.

The fresh issue comprises of pre-IPO placement amounting to Rs 120 crore, as per the DRHP filed on December 17.

Apart from promoters - the Aggarwal family, International Finance Corporation and its subsidiary IFC Emerging Asia Fund will also be sellers in the offer-for-sale.

Promoters' shareholding in Crystal Crop Protection stood at 86.69 percent, while the public shareholders - International Finance Corporation and IFC Emerging Asia Fund - owned 8.48 percent shares. And the remainder 4.83 percent stake is owned by the Crystal Crop Protection Employees Welfare Trust.

The company intends to reduce its debt by Rs 465.5 crore through fresh issue proceeds. The total borrowings as of September 2025 stood at Rs 1,205 crore on a consolidated basis.

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And the remainder funds will be utilised for inorganic growth, and general corporate purposes.

Incorporated in 1994, Crystal Crop Protection that offers agrochemicals and seeds competes with listed peers like Kaveri Seeds Company, Sumitomo Chemical India, Bayer CropScience, Rallis India, and Dhanuka Agritech.

The company currently manufactures formulation products through its four primary units (Haryana, Gujarat, and Jammu and Kashmir), having a capacity of 75,962 MT, while it also operates two technicals manufacturing facilities in Gujarat and Maharashtra for herbicides, insecticides and fungicides with capacity of 3,456 MT.

As a part of expansion, the company said it also proposed to set up a new plant in Jhagadia, Gujarat.

Further, Crystal Crop operates three seed processing units - Hyderabad and Bengaluru - with capacity of 40,998 MT and 1,722 MT respectively.

On the financial front, the company has recorded profit of Rs 153.5 crore for April-September 2025 period, on revenue of Rs 1,978 crore. Profit in the fiscal 2025 increased by 35.7 percent to Rs 118.4 crore, up from Rs 87.2 crore in previous year, while revenue from operations in the same period grew by 20.6 percent to Rs 2,690.5 crore, rising from Rs 2,229.9 crore.

IIFL Capital Services, DAM Capital Advisors, and Motilal Oswal Investment Advisors are appointed as the merchant bankers for managing the Crystal Crop Protection IPO.