Crystal Crop Protection IPO: dates, price band, lot size and GMP
Crystal Crop Protection IPO opens 18 – 20 Nov 2026 on the Mainboard, price band ₹259 – ₹272, lot 55 shares, GMP ₹45 (+16.5% over the upper band). Allotment 23 Nov, listing 26 Nov.
Listing date: Crystal Crop Protection IPO is scheduled to list on 26 Nov on NSE, BSE.
Updated 13 Nov 2026, 22:10 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 224 IPOs on its calendar; the Crystal Crop Protection IPO has a price band of ₹259 – ₹272, a lot of 55 shares and a grey-market premium of ₹45 (+16.5% over the upper band) as of 13 Nov 2026.
Key details
| Board | Mainboard |
|---|---|
| Issue dates | 18 – 20 Nov 2026 |
| Price band | ₹259 – ₹272 |
| Lot size | 55 shares |
| Issue size | ₹455.49 Cr |
| Fresh issue | ₹354.77 Cr |
| Offer for sale | ₹100.71 Cr |
| GMP (unofficial) | ₹45 |
| Subscription | — |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead managers | IIFL Capital Services Ltd., Dam Capital Advisors Ltd., Motilal Oswal Investment Advisors Ltd. |
| Status | Upcoming |
Timeline
- Issue opens: 18 Nov
- Issue closes: 20 Nov
- Allotment: 23 Nov
- Refunds: 25 Nov
- Demat credit: 25 Nov
- Listing: 26 Nov
GMP today
Grey-market premium ₹45 per share (16.5% over the upper band of ₹272), estimated listing price about ₹317. Unofficial, dated, not a forecast. Day-by-day GMP trend.
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE, BSE |
| Market cap at the upper band | ₹4,438.18 Cr |
| P/E (pre-issue) | 28.19x |
| P/E (post-issue) | 8.17x |
| Fresh issue (shares) | 1,30,51,580 |
| Offer for sale (shares) | 37,02,694 |
| Total shares offered | 1,67,54,274 |
| Promoter holding pre-issue | 84.92% |
| Promoter holding post-issue | 75.85% |
| Promoters | Nand Kishore Aggarwal, Ankur Aggarwal, Komal Aggarwal, Ankur Aggarwal KNK Family Trust |
| Lead managers | IIFL Capital Services Ltd., Dam Capital Advisors Ltd., Motilal Oswal Investment Advisors Ltd. |
| Registrar phone | 022-49186000 |
| Registrar email | crystalcrop.ipo@in.mpms.mufg.com |
| Company website | crystalcropprotection.com |
| Anchor bid date | 17 Nov 2026 |
| Anchor lock-in ends (50%) | 23 Dec 2026 |
| Anchor lock-in ends (remaining) | 21 Feb 2027 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 1 | 55 | ₹14,960 |
| Retail (maximum) | 14 | 770 | ₹2,09,440 |
| sNII (minimum) | 14 | 770 | ₹2,09,440 |
| bNII (minimum) | 67 | 3,685 | ₹10,02,320 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| QIB | — | — | Not more than 50% of the Net Offer |
| NII (HNI) | — | — | Not less than 15% of the Net Issue |
| Retail | — | — | Not less than 35% of the Net Issue |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹9.65 |
|---|---|
| EPS (post-issue) | ₹33.29 |
| P/E (pre-issue) | 28.19x |
| P/E (post-issue) | 8.17x |
| RoNW | 7.14% |
| RoCE | 16.06% |
| RoE | 7.94% |
| PAT margin | 4.56% |
| EBITDA margin | 14.47% |
| Price / book | 1.7x |
| NAV per share | ₹160.03 |
| Debt / equity | 0.41 |
| Market cap (upper band) | ₹4,438.18 Cr |
Financials (₹ Cr)
| Metric | 30 Jun 2026 | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|---|
| Assets | 4,498.27 | 3,927.24 | 3,538.43 | 2,541.92 | +11% |
| Total Income | 1,209.21 | 3,180.98 | 2,731.94 | 2,271.71 | +16.4% |
| Profit After Tax | 135.78 | 144.91 | 118.39 | 87.24 | +22.4% |
| EBITDA | 241.78 | 456.23 | 315.28 | 209.06 | +44.7% |
| NET Worth | — | 2,039.76 | 1,600.1 | 1,488.39 | +27.5% |
| Reserves and Surplus | 1,524.85 | 1,386.12 | 1,296.9 | 1,197.23 | +6.9% |
| Total Borrowing | 952.02 | 820.04 | 947.02 | 577.29 | −13.4% |
About Crystal Crop Protection
Crystal Crop Protection is an Indian agri-inputs company built around two pillars: agrochemicals and seeds. Everything it makes is tailored to the conditions and needs of Indian farmers.
Offerings:
Crystal follows a fully integrated model that links research, seed breeding, technology-enabled manufacturing and distribution. Its R&D centre is in Sonipat, Haryana, and the company also works with multinational partners on innovation.
Production is spread across Haryana, Gujarat, Jammu & Kashmir, Maharashtra, Telangana and Karnataka, covering formulations, technicals and seed processing. As of 30 September 2025, formulation plants had a combined installed capacity of 75,962 MT, while technicals facilities stood at 3,456 MT.
Products reach the market through over 13,000 distributors and 36 distribution centres across India.
Objects of the issue
- Repayment/pre-payment, in full or part, of certain borrowings availed by the Company — ₹247.94 Cr
- 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 — ₹22.06 Cr
- Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes
Net proceeds: ₹270 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Crystal Crop Protection Ltd. (issuer) | 11.43 | 11.06 | 160.03 | — | 7.14% | — | Consolidated |
| Kaveri Seed Co.Ltd. | 56.94 | 56.94 | 341.53 | 12.13x | 16.07% | 2.02 | Consolidated |
| Sumitomo Chemical India Ltd. | 10.88 | 10.88 | 67.84 | 31.2x | 14.95% | 5.06 | Consolidated |
| Bayer Cropscience Ltd. | 153.35 | 153.35 | 659.89 | 22.73x | 19.15% | 5.29 | Consolidated |
| Rallis India Ltd. | 9.46 | 9.46 | 104.4 | 19.93x | 6.16% | 1.81 | Consolidated |
| Dhanuka Agritech Ltd. | 63.72 | 63.72 | 372.89 | 14.38x | 17.67% | 2.46 | Consolidated |
Notes: All the financial information for listed industry peers mentioned above is on a consolidated basis (unless otherwise available only on standalone basis). The Revenue from Operations, EPS (Basic) and EPS (Diluted) for the Financial Year ended March 31, 2026 provided above is sourced from the annual reports as available of the respective company for the Financial Year ended March 31, 2026 as available on the stock exchanges and the P/E Ratio, Net asset value per share and Return on Net Worth for the Financial Year ended March 31, 2026 have been calculated, basis the respective…
Strengths (per the offer document)
- Bollgard II® in Cotton (Genetically modified) from Bayer Crop Science for protection of the crop from bollworms
- Clearfield® technology (Non-genetically modified) in Mustard for herbicide resistance to Imidazolinone
- Portfolio and registrations — As of September 30, 2025, we hold 40 PVP registrations granted in cotton, pearl millet, sorghum and mustard and maintain a strong run-rate of new product launches with an innovation index of 20.08%.
- Marker assisted selection, DNA fingerprinting, Immunoassays — Maharashtra 28 acres of R&D Farms 3 To undertake breeding activities for cotton, fodder and sorghum Rajasthan 26.5 acres of R&D farms 4 To undertake breeding activities for pearl millet, mustard and…
- Three disease screening stations — Additionally, we have taken on license an in-house mobile application called “PhenomeOne”, which is a secure, web-based platform used by our seeds R&D team for pedigree management, germplasm…
Risk factors (as disclosed by the company)
- A significant portion of our Revenue from Operations is attributable to our domestic business in India and any reduction in the demand for our products…
- Our business is subject to climatic conditions and is cyclical in nature
- Our operations are significantly dependent on our Units and any unscheduled, unplanned or prolonged disruption
- Our Company, Promoters and one of our Directors
- We require certain approvals, licenses and permits, including material statutory clearances in the ordinary course of business
- We are subject to stringent technical specifications and quality requirements in relation to our products and any failure to comply with such standards…
- We are reliant on our distribution network and any delays or disruption in such distribution network may adversely affect our business
- We typically do not enter into long-term agreements with majority of our customers and distributors
From the RHP (strengths pages 297–302, risk factors pages 32–33). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF)
Track this issue
- Crystal Crop Protection IPO GMP today and trend
- Crystal Crop Protection IPO subscription status, day by day
- Crystal Crop Protection IPO allotment status and how to check
Frequently asked questions
When does the Crystal Crop Protection IPO open and close?
The issue is scheduled for 18 – 20 Nov 2026.
What is the Crystal Crop Protection IPO price band?
The price band is ₹259 – ₹272 per share with a lot size of 55 shares.
How big is the Crystal Crop Protection IPO?
The total issue size is ₹455.49 Cr, of which ₹354.77 Cr is a fresh issue and ₹100.71 Cr an offer for sale.
What is the Crystal Crop Protection IPO GMP today?
The grey-market premium reported today is ₹45 per share. GMP is an unofficial, unregulated indicator and not a prediction of the listing price.
When will Crystal Crop Protection list?
The tentative listing date is 26 Nov on the main board.
How do I apply for the Crystal Crop Protection IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Crystal Crop Protection · as filed with SEBI · sebi.gov.in
- Registrar allotment page, MUFG Intime India Pvt.Ltd. · allotment 23 Nov · in.mpms.mufg.com
- NSE public issues page · listing 26 Nov · nseindia.com
- BSE public issues page · listing 26 Nov · bseindia.com
- Crystal Crop Protection company website · crystalcropprotection.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 13 Nov, 14:32 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Crystal Crop Protection IPO”, https://buyunlistedshares.com/ipo/crystal-crop-protection-ipo, as of 13 Nov 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. Data as of 13 Nov 2026.
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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