The Crystal Crop Protection IPO opens on 18 November and closes on 20 November. The price band is ₹259 to ₹272 a share. The issue is worth about ₹455 crore.
Crystal Crop Protection makes agrochemicals and seeds. Anchor investors bid on 17 November, a day before the issue opens for everyone else.
Crystal Crop Protection IPO: key facts
| Detail | What it says |
|---|---|
| Price band | ₹259 to ₹272 a share |
| Issue size | ₹455.48 crore |
| Fresh issue | ₹354.77 crore |
| Offer for sale (OFS) | ₹100.71 crore |
| Lot size | 55 shares |
| One lot at the upper band | ₹14,960 |
| Anchor bidding | 17 November |
| IPO opens and closes | 18 November to 20 November |
| Basis of allotment | 23 November |
| Refunds and demat credit | 25 November |
| Listing on NSE and BSE | 26 November |
How is the issue split?
The fresh issue brings money to the company. The OFS is a sale by promoter Ankur Aggarwal, so that money goes to him.
Half of the net offer is for big investors like mutual funds (QIBs). Retail investors get 35%. Non-institutional investors get 15%.
One lot is 55 shares. At the upper band, that is ₹14,960. At the lower band, it is ₹14,245.
What will the company do with the money?
Money from the fresh issue will repay some borrowings of the company and of its subsidiary, Saffire Crop Science. Some will go to acquisitions that are not yet named, and some to general corporate purposes.
As per a Business Today report citing Bloomberg, the company is seeking a market value of about ₹4,438 crore after the issue. The same report says it raised ₹84.3 crore from pre-IPO investors on 26 October at ₹272.07 a share.
IIFL Capital, DAM Capital Advisors and Motilal Oswal Investment Advisors manage the issue.
What our data shows
We reported on 22 October that the fresh issue had been cut to ₹439 crore. It is now about ₹355 crore. The company has not yet been listed on our IPO pages, so the GMP is not available here.
Track the company on our upcoming mainboard IPO list. Our earlier story on the fresh issue cut has the background.
What happens next
Anchor bidding is on 17 November and the IPO opens on 18 November. Bidding closes on 20 November. The basis of allotment is due on 23 November and shares list on 26 November.
