Crystal Crop Protection Files DRHP For IPO
Crystal Crop Protection Limited, an R&D based crop protection manufacturing, and marketing company filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI seeking permission for its Initial Public Offering (IPO). The company is planning to raise Rs 1000 crore via IPO.
The IPO comprises of a fresh issue of up to Rs. 545 crore and an Offer for Sale of up to Rs 455 crore, from Promoter, Selling Shareholders (Kanak Aggarwal, Komal Aggarwal, Nand Kishore Aggarwal and Ankur Aggarwal) and Investor Selling Shareholderby Everstone Capital Partners II LLC.The equity shares will have a face value of Rs 10 and the price band will be decided in consultation with the Book Running Lead Managers (BRLMs).
The Net Proceeds from the Issue will be utilised towards Prepayment/ repayment of certain working capital facilities availed by our Company; Funding acquisitions and other strategic initiatives; and 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 the book running lead managers to the issue, SMC Capitals Limited is the Co book running lead manager and Link Intime India Private Limited is the Registrar.
About Crystal Crop Protection Limited
Crystal Crop Protection Limited is an R&D based crop protection manufacturing and marketing company. Its products cater to the entire lifecycle of crops, from sowing to harvesting. It provides crop protection solutions to the Indian farmer to assist them to maximize productivity and profitability. The company has integrated operations, from undertaking R&D of new molecules to manufacturing and delivering products to farmers across India through our extensive distribution network.
The Company was incorporated on July 13, 1994, as Jai Bharat Crop Chemical Private Limited and we have been involved in the crop protection business. The company has diversified business from manufacturing and marketing domestic agrochemicals into manufacturing and distribution of seeds, and the distribution of agri-equipment and exports of our agrochemical products.