Crystal Crop Protection IPO
Updated 13 Nov 2026, 6:50 pm.
Minimum investment (Retail)
₹14,960
1 lot · 55 shares at the upper price band
Price band
₹259–272
Latest GMP
Not yet quoted
Est. listing price
—
Issue size
₹455.49 Cr
Allotment status
Allotment is due on 23 Nov 2026. Check it on the registrar's page or either exchange with your PAN or application number.
- Allotment finalised23 Nov 2026(upcoming)
- Refunds start25 Nov 2026(upcoming)
- Shares credited to demat25 Nov 2026(upcoming)
- Listing26 Nov 2026(upcoming)
GMP history
Each point is a recorded observation from the scheduled data sync.
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- Mainboard
- Price band
- ₹259–272
- Issue size
- ₹455.49 Cr
- Lot size
- 55
- Opens
- 18 Nov 2026
- Closes
- 20 Nov 2026
- Allotment
- 23 Nov 2026
- Listing
- 26 Nov 2026
- Est. listing price
- —
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- MUFG Intime India Pvt.Ltd.
- Minimum investment
- ₹14,960 (1 lot · 55 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital cum OFS
- Fresh issue
- ₹354.77 Cr
- Offer for sale
- ₹100.71 Cr
- Listing at
- BSE, NSE
- Refunds
- 25 Nov 2026
- Shares credited
- 25 Nov 2026
- Promoter holding
- 86.69% before · 83.83% after
- Lead managers
- IIFL Capital Services Ltd., Dam Capital Advisors Ltd., Motilal Oswal Investment Advisors Ltd.
Offer documents & links
Full issue details
Details as published for this issue, read 13 Nov 2026, 9:05 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 18 to 20 Nov, 2026 |
|---|---|
| Listing Date | Thu, Nov 26, 2026 (tentative) |
| Face Value | ₹ 10 per share |
| Price Band | ₹259 to ₹272 |
| Lot Size | 55 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹ 25.00 |
| Total Issue Size | 1,67,54,274 shares (agg. up to ₹ 455.49 Cr) |
|---|---|
| Fresh Issue | 1,30,51,580 shares (agg. up to ₹ 354.77 Cr) |
| Offer for Sale | 37,02,694 shares of ₹ 10 (agg. up to ₹ 100.71 Cr) |
| Share Holding Pre Issue | 13,45,69,911 shares |
| Share Holding Post Issue | 14,76,30,794 shares |
IPO Timetable (Tentative)
- IPO Open
- Wed, Nov 18, 2026
- IPO Close
- Fri, Nov 20, 2026
- Allotment
- Mon, Nov 23, 2026
- Refund
- Wed, Nov 25, 2026
- Credit of Shares
- Wed, Nov 25, 2026
- Listing
- Thu, Nov 26, 2026
Issue Reservation
| Investor Category | Shares |
|---|---|
| QIB | Not more than 50% of the Net Offer |
| Retail | Not less than 35% of the Net Issue |
| NII | Not less than 15% of the Net Issue |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 55 | ₹14,960 |
| Retail (Max) | 13 | 715 | ₹1,94,480 |
| S-HNI (Min) | 14 | 770 | ₹2,09,440 |
| S-HNI (Max) | 66 | 3,630 | ₹9,87,360 |
| B-HNI (Min) | 67 | 3,685 | ₹10,02,320 |
Investors can bid for a minimum of 55 shares and in multiples thereof.
Investor Category Reservations
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹2 Lakhs | Yes |
| Employee + RII/NII | Up to ₹2Lakhs (EMP) + RII/NII limits | Yes (EMP/RII) |
About Crystal Crop Protection Ltd.
Crystal Crop Protection is a crop solutions company with agrochemicals and seeds as its core offerings. Its portfolio includes crop protection products such as herbicides, fungicides and insecticides, along with natural crop solutions like bio-stimulants, bio-protectants, plant growth regulators, liquid fertilizers and micronutrients. It also offer seeds for field crops, vegetable crops and flowers.
Its products are designed specifically for Indian farmers and are supported by strong in-house research and development, as well as collaborations with multinational companies. The company follows a fully integrated business model that combines R&D, seed breeding, backward-integrated and technology-enabled manufacturing, and a pan-India distribution network, with a strong focus on farmers’ needs.
The company offers over 174 crop protection product brands in various pack sizes, including farmer-friendly packs. Its branded crop protection business has grown faster and the company also export formulations and technicals to several countries including Bangladesh, Nepal and parts of Africa and Asia.
In seeds, it has a diversified portfolio covering cotton, cereals, oilseeds, fodder crops, vegetables and flowers, with sales across India and exports to countries such as Japan, the USA and Thailand.
The company operates multiple manufacturing facilities for formulations, technicals and seed processing across Haryana, Gujarat, Jammu & Kashmir, Maharashtra, Telangana and Karnataka. It has R&D centre in Sonipat, Haryana. As of Sep 30, 2025, its formulation manufacturing units had combined installed capacity of 75,962.00 MT and technicals manufacturing facilities aggregate installed capacity stood at 3,456 MT.
The business has a strong pan-India network of over 13,000 distributors and 36 distribution centers.
Competitive strengths
Strong R&D capabilities backed by advanced technology infrastructure and collaborations
A deep connect with Indian farmers resulting in strong brand equity
Operational excellence with focus on our multi-pronged go-to-market strategy
Vertically integrated manufacturing operations backed by robust R&D capabilities and strong supply chain
Strategic acquisitions and successful integration of growth opportunities
Diversification across business verticals, geographies, product categories and crops
Company Financials (Restated Consolidated)
Total Income
Profit After Tax
EBITDA
NET Worth
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 3,859.23 | 3,542.90 | 2,541.92 | 2,472.07 |
| Total Income | 1,995.86 | 2,731.94 | 2,271.71 | 2,532.89 |
| Profit After Tax | 153.51 | 118.39 | 87.24 | 76.60 |
| EBITDA | 333.22 | 315.28 | 209.06 | 231.86 |
| NET Worth | 1,748.90 | 1,600.10 | 1,488.39 | 1,408.10 |
| Total Borrowing | 1,205.24 | 947.02 | 577.29 | 612.70 |
| Amount in ₹ Crore |
Recently Listed IPOs in Other Agricultural Products
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Amir Chand Jagdish Kumar (Exports) Ltd. | Mainboard | ₹440.00 Cr | ₹212 | 28.86 | ₹180.00 | -15.09% | ₹243.30 |
| Farm Peace Ltd. | SME | ₹32.00 Cr | ₹59 | 11.87 | ₹106.50 | +80.51% | ₹40.00 |
| Dhanwel Hybrid Seeds Ltd. | SME | ₹26.73 Cr | ₹99 | 10.37 | ₹94.05 | -5.00% | ₹38.50 |
| Adon Agro Commodities Ltd. | SME | ₹44.03 Cr | ₹70 | 16.22 | ₹82.16 | +17.37% | ₹99.00 |
| M R Maniveni Foods Ltd. | SME | ₹27.04 Cr | ₹52 | 18.11 | ₹41.13 | -20.90% | ₹24.90 |
| NFP Sampoorna Foods Ltd. | SME | ₹24.53 Cr | ₹55 | 16.81 | ₹51.80 | -5.82% | ₹20.50 |
| Stanbik Agro Ltd. | SME | ₹12.28 Cr | ₹30 | 5.9 | ₹33.33 | +11.10% | ₹22.05 |
| Unisem Agritech Ltd. | SME | ₹21.45 Cr | ₹65 | 12.21 | ₹61.75 | -5.00% | ₹38.00 |
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/pre-payment, in full or part, of certain borrowings availed by Company | 31.29 |
| 2 | Investment in Material Subsidiary namely Saffire Crop Science Private Limited for repayment/ pre-payment, in full or in part, of all or a portion of certain of its outstanding borrowings | 2.21 |
| 3 | Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes | — |
| Total | 33.50 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 8.31% |
| ROCE | 16.43% |
| Debt/Equity | 0.65 |
| RoNW | 7.46% |
| PAT Margin | 4.33% |
| EBITDA Margin | 11.72% |
| NAV | 125.53 |
| P/B (x) | 2.17 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 8.80 | 20.80 |
| P/E (x) | 30.91 | 13.08 |
| Market Cap at Offer Price | ₹3,660.30 Cr. | ₹4,015.56 Cr. |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.
Shareholding Structure
Pre IPO
- Promoter and Promoter Group86.69%
- Public13.31%
Post IPO
- Promoter and Promoter Group83.83%
- Public16.17%
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 86.69% | 83.83% |
| Public | 13.31% | 16.17% |
| Total | 100% | 100% |
Company Promoters: Nand Kishore Aggarwal, Ankur Aggarwal, Komal Aggarwal and Ankur Aggarwal KNK Family Trust.
Offer For Sale - Selling Shareholder
| Name | Category | No. of Shares Offered | Amount (₹ cr.) |
|---|---|---|---|
| Ankur Aggarwal | Promoter | 37,02,694 | 100.71 |
| Total | — | 37,02,694 | 100.71 |
Crystal Crop Protection IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Registrar
MUFG Intime India Pvt.Ltd.
022-49186000
crystalcrop.ipo@in.mpms.mufg.com
IPO Lead Manager(s)
IIFL Capital Services Ltd.
Dam Capital Advisors Ltd.
Motilal Oswal Investment Advisors Ltd.
Contact Details
Crystal Crop Protection Ltd.
206, 2nd Floor, Span Trade Centre Opp. Kochrab,
Gandhi Ashram, Near Paldi Char Rasta,
Ashram Road Ellisbridge,
Ahmedabad, Gujarat , 380006
11 49007100
investor@crystalcrop.com
Crystal Crop Protection IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Crystal Crop Protection IPO opens Nov 18: Check price band, lot size and key dates
Upstox · 13 Nov 2026
Crystal Crop Protection IPO🔥 November का पहला IPO! GMP, Share Price & पूरी जानकारी | Apply or Avoid?
YouTube · 13 Nov 2026
Crystal Crop Protection Limited earmarks Rs 465.559 crore for debt
Multibagg AI · 12 Nov 2026
Crystal Crop Protection built a 13-entry farm-input portfolio
Multibagg AI · 12 Nov 2026
Crystal Crop Protection innovation revenue reached 23.89%
Multibagg AI · 12 Nov 2026
Crystal Crop raises $8.84M in pre-IPO round ahead of listing
Dealroom · 30 Oct 2026
Pre-IPO round: Crystal Crop Protection raises Rs 84.3 crore from 20 investors; WhiteOak invests Rs 60...
Moneycontrol.com · 28 Oct 2026
International Finance Corporation-backed Crystal Crop Protection cuts IPO size
Moneycontrol.com · 21 Oct 2026
Crystal Crop Protection: common questions
Answered from this issue's own record.