SEBI has approved the Initial Public Offer (IPO) of Crystal Crop Protection Ltd. on May 4, 2026. The company will proceed with next steps to launch the Initial Public Offer (IPO) subject to market conditions and other approvals. The SEBI approval is valid for 12 months.
Crystal Crop Protection Ltd. IPO is a Book Build Issue consisting of fresh issue of ₹600.00 crores and an offer for sale (OFS) of upto 0.74 crore equity shares.
The equity shares are proposed to be listed on NSE and BSE. IIFL Capital Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Crystal Crop Protection IPO DRHP for more details.
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Wed, Dec 17, 2025 |
| SEBI/Exchange approval received | Mon, May 4, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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
Crystal Crop Protection Ltd.’s revenue increased by 20% and profit after tax (PAT) rose by 36% between the financial year ending with March 31, 2025 and March 31, 2024.
| 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 | ||||
| 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% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 86.69% |
MUFG Intime India Pvt.Ltd.
Lead Manager Reports
Crystal Crop Protection IPO is a main-board IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Crystal Crop Protection IPO open and close dates are not available as of now.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Crystal Crop Protection IPO using UPI as a payment gateway. Zerodha customers can apply in Crystal Crop Protection IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Crystal Crop Protection IPO through Zerodha
Visit the Zerodha website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Crystal Crop Protection IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Zerodha IPO Application Process Review for more detail.
The Crystal Crop Protection IPO dates are not announced. Please check back again after some time.
Crystal Crop Protection IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Crystal Crop Protection IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Crystal Crop Protection IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Crystal Crop Protection IPO allotment status.
The Crystal Crop Protection IPO listing date is not yet announced. The tentative date of listing is .
