Crystal Crop Protection IPO 2026: Details, GMP, Financials & Analysis

Crystal Crop Protection IPO is a book-built issue of ₹455.49 crore, comprising a fresh issue of ₹354.77 crore and an offer for sale (OFS) of ₹100.71 crore. The IPO will open for subscription on November 18, 2026, and close on November 20, 2026. The shares are proposed to be listed on BSE and NSE on November 26, 2026.

The price band is fixed at ₹259–₹272 per share, with a lot size of 55 shares. At the upper price band, retail investors need a minimum investment of ₹14,960.

Crystal Crop Protection operates in the agricultural inputs segment, with a diversified portfolio of crop protection chemicals, crop nutrition products and seeds. The company was incorporated in 1994 and has an established distribution network across India.

Crystal Crop Protection IPO Details

Crystal Crop Protection IPO Timeline

Dates are tentative and may change.

Crystal Crop Protection IPO GMP

As of November 14, 2026, Crystal Crop Protection IPO GMP is ₹40 against the upper issue price of ₹272.

Based on the latest reported GMP, the estimated listing price is ₹312. For a lot of 55 shares, the indicative gain is ₹2,200 before charges.

Disclaimer: Grey Market Premium is based on unofficial market activity and is indicative only. It can change before listing and should not be considered a reliable indicator of the actual listing price.

Crystal Crop Protection IPO Subscription Status

The Crystal Crop Protection IPO subscription will be updated once bidding opens on November 18, 2026. The IPO will remain open until November 20, 2026.
As of now, live subscription data is not available yet because bidding has not started.

The issue has a reservation of not more than 50% for QIBs, not less than 15% for NIIs and not less than 35% for Retail investors.

Once bidding starts, this section can be updated with the latest subscription figures from BSE and NSE.

Crystal Crop Protection IPO Day-wise Subscription Trend

The Crystal Crop Protection IPO subscription trend will become available after the issue opens on November 18, 2026.

The day-wise subscription data will help track demand across QIB, NII and Retail investor categories during the three-day bidding period.

Crystal Crop Protection IPO Current Subscription Data

The current Crystal Crop Protection IPO subscription data will be updated once the IPO opens for bidding on November 18, 2026.

As of now, the IPO has not opened for subscription, so category-wise live bidding data is not available. Live figures will be updated during the bidding period based on exchange data.

Crystal Crop Protection IPO Lot Size

The minimum application is 55 shares, and bids can be placed in multiples of 55 shares.

Investment amounts are calculated at the upper price band of ₹272 per share.

Crystal Crop Protection IPO Reservation

About Crystal Crop Protection

Incorporated in 1994, Crystal Crop Protection Limited is an Indian agricultural inputs company engaged in crop protection, crop nutrition and seeds.

The company offers products across herbicides, fungicides, insecticides, bio-stimulants, bio-protectants, plant growth regulators, liquid fertilisers and micronutrients. Its portfolio includes more than 174 crop protection brands.

Business Verticals

Crop Protection Products: The company offers products such as:

• Herbicides
• Insecticides
• Fungicides
• Bio-protectants
• Bio-stimulants
• Plant growth regulators

Crop Nutrition: Its portfolio includes liquid fertilisers, micronutrients and other crop nutrition products.

Seeds: The company supplies seeds for field crops, vegetable crops and other agricultural applications.

Manufacturing, R&D and Distribution

• More than 174 crop protection brands.
• Over 13,000 distributors across India.
• 36 distribution centres.
• R&D centre located in Sonipat, Haryana.
• Formulation manufacturing capacity of 75,962 MT.
• Technical manufacturing capacity of 3,456 MT.
• Export presence in markets including Japan, the USA, Thailand, Bangladesh and Nepal.

Crystal Crop Protection IPO Objectives

The company proposes to use the net proceeds from the fresh issue primarily for repayment of borrowings and investment in its subsidiary.

The company plans to use ₹270 crore towards debt repayment at the company and subsidiary levels. The remaining fresh issue proceeds are intended for inorganic growth, strategic initiatives and general corporate purposes.

Crystal Crop Protection Financial Performance

The company's financial performance has shown growth in revenue, EBITDA and profit over the reported years.

Between FY25 and FY26, total income increased from ₹2,731.94 crore to ₹3,180.98 crore, while PAT increased from ₹118.39 crore to ₹144.91 crore.
The company also reported EBITDA growth from ₹315.28 crore in FY25 to ₹456.23 crore in FY26. Total borrowings declined from ₹947.02 crore to ₹820.04 crore during the same period.

Crystal Crop Protection Key Financial Ratios

The FY26 EBITDA margin stood at 14.47%, while PAT margin was 4.56%. The company reported ROE of 7.94% and RoNW of 7.14% for FY26.

Crystal Crop Protection IPO Valuation

The supplied valuation data indicates a post-IPO P/E of 8.17x. Investors should compare the valuation with the company's earnings, borrowings, business scale and listed agrochemical peers.

Promoter Holding

The promoters of Crystal Crop Protection are:

• Nand Kishore Aggarwal
• Ankur Aggarwal
• Komal Aggarwal
• Ankur Aggarwal KNK Family Trust

Promoter holding is expected to decline from 84.92% pre-IPO to 75.85% post-IPO based on the supplied figures.

Crystal Crop Protection IPO Peer Comparison

The company can be compared with other businesses operating in the agrochemicals, crop protection and seeds segments.

Crystal Crop Protection operates across crop protection products, natural crop solutions and seeds. Its peer comparison should be assessed alongside differences in business mix, profitability and scale.

Competitive Strengths

• Diversified Product Portfolio: The company operates across crop protection, crop nutrition and seeds, reducing dependence on a single product category.
• Established Brand Portfolio: More than 174 crop protection brands support its presence in the agricultural inputs market.
• Wide Distribution Network: Over 13,000 distributors and 36 distribution centres provide broad market reach.
• Manufacturing Capabilities: The company has formulation and technical manufacturing capacities of 75,962 MT and 3,456 MT, respectively.
• R&D Capabilities: Its research and development centre in Sonipat supports product development and innovation.
• Financial Growth: Revenue, EBITDA and PAT increased between FY24 and FY26.

Risks Investors Should Consider

• The company's business is exposed to monsoon conditions and agricultural demand cycles.
• Agrochemical regulations can affect product approvals, manufacturing and sales.
• Raw material price fluctuations may impact operating margins.
• The company operates in a competitive market with domestic and international players.
• Outstanding borrowings remain significant despite the proposed debt repayment.
• Business performance can be affected by changes in crop patterns, farmer demand and distribution conditions.
• Expansion through acquisitions may involve integration and execution risks.

Should You Invest in Crystal Crop Protection IPO?

Crystal Crop Protection's IPO offers exposure to the agricultural inputs sector through crop protection products, crop nutrition and seeds. The company has an established distribution network, manufacturing capacity and a diversified product portfolio.

Its financial performance also shows growth, with total income increasing from ₹2,271.71 crore in FY24 to ₹3,180.98 crore in FY26 and PAT rising from ₹87.24 crore to ₹144.91 crore.

However, investors should evaluate its borrowings, regulatory exposure, raw material costs, agricultural demand cycles and IPO valuation. The fresh issue is largely intended for debt repayment, while the OFS provides an exit opportunity to the selling promoter.

The IPO should therefore be assessed based on financial performance, valuation, debt levels, business growth and industry risks, rather than GMP alone.

Crystal Crop Protection IPO Allotment Status

The tentative basis of allotment date is November 23, 2026.

After the allotment is finalised, investors can check their application status through the IPO registrar's website using their PAN or application number.

Refunds are expected to begin on November 25, while shares are expected to be credited to successful applicants' demat accounts on the same date.

Crystal Crop Protection IPO Registrar

• Company: MUFG Intime India Pvt. Ltd.
• Address: LBS Marg, Vikhroli (West), Mumbai
• Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
• Phone: 022-49186000
• Email: crystalcrop.ipo@in.mpms.mufg.com 

Crystal Crop Protection IPO Lead Managers

• Motilal Oswal Investment Advisors Ltd.
• DAM Capital Advisors Ltd.
• IIFL Capital Services Ltd.

Crystal Crop Protection Company Details

• Company: Crystal Crop Protection Ltd.
• Registered Office: 206, 2nd Floor, Span Trade Centre, Opp. Kochrab, Gandhi Ashram, Near Paldi Char Rasta, Ashram Road, Ellisbridge, Ahmedabad, Gujarat – 380006
• Website: https://www.crystalcropprotection.com/
• Phone: 11 49007100
• Email: investor@crystalcrop.com 

Crystal Crop Protection IPO Summary

Crystal Crop Protection IPO is a ₹455.49 crore book-built issue comprising a ₹354.77 crore fresh issue and ₹100.71 crore OFS. The IPO will open from November 18 to November 20, 2026, with a price band of ₹259–₹272 per share and a lot size of 55 shares. The company operates in crop protection, crop nutrition and seeds, supported by a wide distribution network and established manufacturing capabilities. Its total income increased from ₹2,271.71 crore in FY24 to ₹3,180.98 crore in FY26, while PAT rose from ₹87.24 crore to ₹144.91 crore. The IPO proceeds will primarily be used for debt repayment, investment in its subsidiary and growth initiatives. Investors should evaluate the issue considering its financial performance, valuation, borrowings and agricultural industry risks.

FAQs

What is Crystal Crop Protection IPO?

Crystal Crop Protection IPO is a ₹455.49 crore book-built IPO comprising a ₹354.77 crore fresh issue and ₹100.71 crore offer for sale.

When will Crystal Crop Protection IPO open?

The IPO will open for subscription on November 18, 2026.

When will Crystal Crop Protection IPO close?

The IPO will close on November 20, 2026.

What is the Crystal Crop Protection IPO price band?

The price band is ₹259 to ₹272 per share.

What is the Crystal Crop Protection IPO lot size?

The minimum lot size is 55 shares, requiring ₹14,960 at the upper price band.

What is Crystal Crop Protection IPO GMP today?

As of November 14, 2026, the reported GMP is ₹40, implying an estimated listing price of ₹312 based on the upper price band.

What is the Crystal Crop Protection IPO listing date?

The tentative listing date is November 26, 2026, on BSE and NSE.

What is the Crystal Crop Protection IPO issue size?

The stated total issue size is ₹455.49 crore, comprising a ₹354.77 crore fresh issue and ₹100.71 crore OFS.

Who is the registrar of Crystal Crop Protection IPO?

MUFG Intime India Pvt. Ltd. is the registrar for Crystal Crop Protection IPO.

Who are the lead managers of Crystal Crop Protection IPO?

The lead managers are Motilal Oswal Investment Advisors, DAM Capital Advisors and IIFL Capital Services.

What are the objectives of Crystal Crop Protection IPO?

The company plans to use ₹247.94 crore for repayment of its borrowings, ₹22.06 crore for repayment of borrowings at its subsidiary Saffire Crop Science, and the remaining proceeds for inorganic growth, strategic initiatives and general corporate purposes.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. IPO dates, GMP, subscription figures, financial information and other issue details may change. Investors should review the company's official offer documents and conduct their own due diligence before making any investment decision.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.