Crystal Crop Protection IPO Review
Crystal Crop Protection Ltd., which offers a wide range of crop protection products and natural crop solutions, plans to raise ₹456 Cr through an IPO.
[Fresh Issue ₹355 Cr + OFS ₹101 Cr]
Crystal crop protection ipo price: ₹259–₹272 per share
Crystal Crop Protection: History
The Company was originally incorporated as Jai Bharat Crop Chemical Pvt Ltd. as a private limited company under the Companies Act, 1956, on July 13, 1994.
It was then converted into a public limited company on December 17, 2017, by a special resolution passed by the shareholders.
The Company changed its name to Crystal Crop Protection Ltd, and the Registrar of Companies issued a fresh certificate of incorporation on January 3, 2018.
Crystal Crop Protection: Business
Established in 1994, Crystal Crop Protection Limited is a crop solutions company with agrochemicals and seeds at the core of its offerings.
The Company’s diversified portfolio includes –
- Products for Crop Protection such as fungicides, herbicides, insecticides, and natural crop solutions such as bio-stimulants, bio-protectants, plant growth regulators, liquid fertilizers, and micro-nutrients; and
- Seeds for field crops, vegetable crops, and flowers.
Crystal Crop operates on a fully integrated model that integrates robust synthesis R&D in crop protection products and natural crop solutions, as well as a robust seed breeding program with backward-integrated, technology-enabled manufacturing and pan-India distribution.
It is one of the few companies in the Indian Seed Industry that has dedicated R&D farms for cotton, fodder, maize, rice, sorghum, mustard, vegetables, pearl millet and flower for breeding nurseries and trials.
As of 30 June 2026, Crystal Crop holds 63 PVP registrations granted in cotton, pearl millet, sorghum & mustard and maintains a strong run-rate of new product launches with an innovation index of 24.62 percent.
Product Portfolio
The Company has a portfolio of over 275 hybrid seeds, comprising 111 field crop varieties, 139 vegetable seed varieties and 25 marigold seed varieties.
Manufacturing Facilities
The Company develops and manufactures formulation products in India at four primary units: one each in Haryana and Gujarat, and two are located in Jammu, Jammu and Kashmir.
Customers
The Company offers its crop protection products and plant nutrition solutions both domestically as well as internationally.
Its international business focuses on the export of its branded formulations and Technicals, primarily to Bangladesh, Ethiopia, Nepal, Tanzania, Uganda, Armenia and Indonesia.
Its products are offered in farmer friendly packs such that they may be purchased both by smallholder farmers as well as large progressive farmers.
Distribution Network
As of 30 September 2025, Crystal Crop expand its portfolio and deepen market penetration through a pan-India distribution network of 13,285 independent distributors and 36 distribution centers, supported by 5 regional distribution centers.
Strategies Ahead
Enhance R&D capabilities to focus on portfolio innovation & proprietary product development and invest in new registrations.
Build a strong, sustainable business by way of investment in technology and expanding branded business.
Undertake collaborations for new product development.
Enhance manufacturing capabilities for crop protection products and plant nutrition solutions through backward integration.
Pursue a strategy for inorganic growth.
Key Competitors
Some of the key competitors of the company include Bayer CropScience Limited, Dhanuka Agritech Limited, Kaveri Seeds Company Limited, Sumitomo Chemical India Limited, and Rallis India Limited.
Company Promoters
- Nand Kishore Aggarwal,
- Ankur Aggarwal,
- Komal Aggarwal,
- Ankur Aggarwal KNK Family Trust.
Refer to Crystal Crop Protection Limited DRHP for further details.
IPO Details
ipo date: 18 Nov – 20 Nov 2026
Minimum Amount: ₹14,960
Minimum Bid: 55 Shares
Face Value: INR 10 per share
Listing On: NSE, BSE
Objects of the IPO
Repayment (pre-payment), in full or part, of certain borrowings availed by the Company;
Investment in material subsidiary, namely Saffire Crop Science Pvt Ltd., for repayment (pre-payment), in full or in part, of all or a portion of its outstanding borrowings; and
Funding inorganic growth through unidentified acquisitions and strategic initiatives; and
General corporate purposes.
Financial
Book Running Lead Managers
IIFL Capital Services
DAM Capital Advisors
Motilal Oswal Investment Advisors
CONCLUSION
Considering financial performance and the nature of the business, FinBlab recommends a ‘SUBSCRIBE’ rating (keeping a long-term view in mind) for the Crystal Crop Protection Limited IPO.
Do come back to learn more about “upcoming IPOs”.
IPO FAQ’s
What is the Crystal Crop Protection Limited IPO?
Crystal Crop Protection Limited IPO is a main-board initial public offering (IPO) of 1.68 Cr equity shares.
MUFG Intime India Pvt. Ltd. is the registrar for the IPO.
What is the Crystal crop protection ipo date?
The Crystal Crop Protection IPO opens on Wednesday, Nov 18, 2026 and closes on Friday, Nov 20, 2026.
What is the Crystal crop protection ipo price?
The ipo is priced at ₹259 to ₹272, and the minimum order quantity is 55.
How do I apply for an ipo?
One can apply for the ipo online using either ASBA or UPI as a payment method.
ASBA IPO application is available in the net banking of your bank account.
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Disclaimer: This article is purely for informational purposes.
