Crystal Crop Protection IPO – Review, Allotment Status, Subscription, Price, Date & more
Last Updated Date: Nov 16, 2022Crystal Crop Protection IPO is a new IPO drafted with SEBI. Crystal Crop Protection Limited, a manufacturer of crop protection products, is all set to float an IPO which includes fresh issue as well as secondary issue. Lets have a read here about the IPO release date, IPO offer price, IPO subscription, IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Crystal Crop Protection IPO Review & Ratings
| Crystal Crop Protection IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 7.1/10 |
| Industry Ranking | 7.4/10 |
| Company Background | 7.2/10 |
| Company Reputation | 7.3/10 |
| Competitive Edge | 7.3/10 |
| Financial Statements | 7.2/10 |
| Popularity Index | 7.4/10 |
| Promoters Reputation | 7.2/10 |
| Retail Appetite | 7.3/10 |
| Top Brokers Review | 7.3/10 |
| Overall Ratings | 7.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of Crystal Crop Protection IPO
Crystal Crop Protection is a R&D based manufacturer of crop protection products. It is also engaged in the marketing of its own products. They have diversified business from manufacturing and marketing domestic agrochemicals into manufacturing and distribution of seeds, and the distribution of agri-equipment and exports of agrochemical products.
Crystal Crop Protection is all set to raise funds to the extent of Rs. 1,000 crores. This includes a fresh offer to the tune of Rs. 545 crores and secondary issue of Rs. 455 Crores i.e. being sold by the current shareholders/promoters of the company.
The Crystal Crop Protection IPO has appointed multiple lead managers. These include ICICI Securities, Axis Capital, HSBC Securities, Nomura Financial and SMC Capital Limited. The registrar to the offer is Link Intime.
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Crystal Crop Protection IPO Date
The release date for Crystal Crop Protection IPO has not been disclosed or announced yet. The dates would be updated once the prospectus gets all the requisite approvals. This section would be accordingly updated.
Crystal Crop Protection IPO Date
| Subscription | |
| Day 1 | X |
| Day 2 | X |
| Day 3 | X |
| Day 4 | X |
| Day 5 | X |
The details about subscription of the Crystal Crop Protection IPO would be updated post the release of the IPO.
Crystal Crop Protection IPO Allotment Status
The allotment status section gives information regarding the extent to which he shares have been allotted to the subscribers. Thus, the details of subscription and allotment would be updated post the release of IPO.
Crystal Crop Protection IPO Price Band
The offer price for Crystal Crop Protection IPO is not yet decided. The offer price would be released a few weeks before the offer opens. This section would be updated accordingly.
Crystal Crop Protection IPO Issue Size
Crystal Crop Protection IPO is aiming to raise funds to the extent of Rs. 1,000 crores. This entire fund is not through fresh issue – rather only Rs. 545 is through fresh issue of shares. The balance Rs. 455 crores is to be raised from Offer for Sale scheme wherein the promoters and the current shareholders of the company are selling their stake.
Crystal Crop Protection IPO Equity Share Offerings
The number of equity shares being offered by Crystal Crop Protection IPO is not yet disclosed. The details would be updated here, once the prospectus gets finalised.
Crystal Crop Protection Limited – Company Overview
Crystal Crop Protection Limited was incorporated on July 13, 1994 as Jai Bharat Crop Chemical Private Limited and they have been involved in the crop protection business. It is are a R&D based crop protection manufacturing and marketing company.
Their products cater to the entire lifecycle of crops, from sowing to harvesting. The crop protection company provides crop protection solutions to the Indian farmer to assist them to maximize productivity and profitability. Crystal Crop Protection Limited has integrated operations, from undertaking R&D of new molecules to manufacturing and delivering products to farmers across India through their own extensive distribution network.
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 agrochemical products.
Members of Crystal Crop Protection Limited:
- Nand Kishore Aggarwal (Executive Chairman)
- Ankur Aggarwal (Managing Director)
- Anil Jain (Executive Director – Strategy and Operations)
- Mohit Kumar Goel (Whote-time Director)
Competitive strengths of Crystal Crop Protection Limited:
- Deep sales and distribution penetration
- Ability to develop brands
- Strong R&D based innovative product portfolio
- Strong registration capabilities
- Leading institutional business
- Long-term relationships with suppliers of raw materials
- Experienced Promoters and management team
Business strategies of Crystal Crop Protection Limited:
- Invest in R&D capabilities to further diversify product portfolio
- Continue to obtain registrations to increase our portfolio of products
- Grow agrochemicals business with new products and brands
- Augmenting our manufacturing capabilities
- Grow our seeds, agri-equipment and exports businesses
- Invest in inorganic growth opportunities
- Invest in product launches and brand development
Crystal Crop Protection Limited – Financial Statements
A summary of the financial position of the company has been tabulated below:
Assets of the Company
| Assets (in INR & Millions) | |||||
| Mar’17 | Mar’16 | Mar’15 | Mar’14 | Mar’13 | |
| Non-Current Asset | 2,819 | 2,731 | 2,397 | 2,295 | 2,031 |
| Current Asset | 8,732 | 7,309 | 9,746 | 9,001 | 5,842 |
| Total Asset | 11,552 | 10,040 | 12,142 | 11,296 | 7,873 |
Revenue & PAT of the Company
| Revenue & Profits (in INR & Millions) | |||||
| Mar’17 | Mar’16 | Mar’15 | Mar’14 | Mar’13 | |
| Total Revenue | 13096 | 10416 | 13067 | 11897 | 8928 |
| Profit after Tax (PAT) | 851 | 173 | 686 | 1483 | 903 |
Earnings per Equity Share
| Earning per Equity Share (in INR) | |||||
| Mar’17 | Mar’16 | Mar’15 | Mar’14 | Mar’13 | |
| Basic | 5.96 | 1.14 | 4.52 | 9.78 | 5.95 |
| Diluted | 5.96 | 1.14 | 4.52 | 9.78 | 5.95 |
The company’s revenue has certainly seen a decent growth but the PAT has been quite fluctuating. The EPS indicator though fetches a reliable tag for the company.
Crystal Crop Protection Limited Promoters
The promoters of Crystal Crop Protection are:
- Nand Kishore Aggarwal
- Ankur Aggarwal
- Kanak Aggarwal
- Komal Agarwal
- Nand Kishore Aggarwal HUF
Promoters’ interest in the company:
The Promoters are interested in the Company to the extent that they have promoted Company and to the extent of their shareholding in Company and the dividend payable, if any and other distributions in respect of the Equity Shares held by them. Further, they may be interested to the extent of Equity Shares that may be subscribed or allotted to the companies, firms and trusts, in which they are interested as directors, members, partners, trustees and promoters, pursuant to the Offer.
Nand Kishore Aggarwal and Ankur Aggarwal, are Directors of our Company and may be deemed to be interested to
the extent of remuneration and reimbursement of expenses payable to them as per terms of their appointment as Directors of the Company and to the extent of remuneration paid to them for services rendered as an officer or employee of the Company.
Promoters’ interest in the property of the company:
Promoters have no interest, whether direct or indirect, in any property acquired by the Company. Company acquired a portion of land admeasuring 0.85 acres on which part of manufacturing facility in Sonepat, Haryana, is located from one of Promoters, namely, Nand Kishore Aggarwal HUF, pursuant to a sale deed dated February 8 2017 for an aggregate consideration of ₹ 10.06 million.
Crystal Crop Protection IPO Offer Details or Issue Details
| Offer | Up to [●] Equity Shares (of face value of ₹ 10 each), aggregating up to ₹ 1,000 crore |
| Of which | |
| Fresh Issue | Up to [●] Equity Shares (of face value of ₹ 10 each), aggregating up to ₹ 545 crore |
| Offer for sale | Up to [●] Equity Shares (of face value of ₹ 10 each), aggregating up to ₹ 455 crore |
| The offer comprises: | |
| A) QIB Portion | Not more than [●] Equity Shares (of face value of ₹ 10 each) |
| Of which | |
| (i) Anchor Investor Protection | [●] Equity Shares (of face value of ₹ 10 each) |
| Of which: | |
| (a) Mutual Funds | [●] Equity Shares (of face value of ₹ 10 each) |
| (b) Other QIBs | [●] Equity Shares (of face value of ₹ 10 each) |
| (ii) Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed) |
[●] Equity Shares (of face value of ₹ 10 each) |
| Of which: | |
| (a) Available for allocation to Mutual Funds only (5% of the QIB Portion excluding Anchor Investor Portion) | [●] Equity Shares (of face value of ₹ 10 each) |
| (b) Balance for all QIBs including Mutual Funds | [●] Equity Shares (of face value of ₹ 10 each) |
| B) Non-Institutional Portion | Not less than [●] Equity Shares (of face value of ₹ 10 each) |
| C) Retail Portion | Not less than [●] Equity Shares (of face value of ₹ 10 each) |
| Equity Shares outstanding prior to the offer | 142,823,855 Equity Shares (of face value of ₹ 10 each) |
| Equity Shares outstanding after the Offer | [●] Equity Shares (of face value of ₹ 10 each) |
Crystal Crop Protection IPO Issue Object
Crystal Crop Protection IPO proceeds are expected to be used for the following purposes:
- Prepayment/ repayment of certain working capital facilities availed by Company
- Funding acquisitions and other strategic initiatives
- General corporate purposes
Crystal Crop Protection IPO Basis for offer price
The offer price is generally decided on the basis of various parameters. This process is undertaken between the Company and the lead managers. The process is based on assessment of market demand for the Equity Shares offered through the Book Building Process and on the basis of quantitative and qualitative factors.
The relevant qualitative factors are:
- Deep sales and distribution penetration
- Ability to develop brands
- Strong R&D based innovative product portfolio
- Strong registration capabilities
- Leading institutional business
- Long-term relationships with suppliers of raw materials
- Experienced Promoters and management team
The relevant quantitative factors are:
- EPS – The weighted average EPS for Crystal Crop Protection for the latest 3 years is 4.11
- PE ratio or the price earning ratio
- RoNW – Return on net worth for Crystal Crop Protection (on a weighted average basis) is 9.28%
- Net Asset Value – The Net Asset Value for March 31, 2017 is 53.31
- Industry Peers – Based on EPS, the company ranks 6th with companies like PI Industries, Excel Cropcare and Dhanuka taking the lead.
Crystal Crop Protection IPO Lead Managers
| Lead Managers |
| ICICI Securities Limited |
| Axis Capital Limited |
| HSBC Securities and Capital Markets (India) Private Limited |
| Nomura Financial Advisory and Securities (India) Private Limited |
| SMC Capitals Limited |
Crystal Crop Protection IPO Registrar to the Offer
| Registrar of the Offer |
| Link Intime Private Limited |
Crystal Crop Protection IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Repu-tation | Compe-titive Edge | Finan-cial State-ment | Popu-larity Index | Promo-ters Repu-tation |
| Angel Broking | 7.2/10 | 7.3/10 | 7.2/10 | 7.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 7.6/10 | 7.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.2/10 | 7.3/10 | 7.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 7.7/10 | 7.1/10 | 7.1/10 |
| IIFL | 7.2/10 | 7.2/10 | 7.8/10 | 7.0/10 | 7.1/10 |
| Edelweiss | 7.2/10 | 7.3/10 | 7.3/10 | 7.3/10 | 7.2/10 |
| Zerodha | 7.3/10 | 7.1/10 | 7.2/10 | 7.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 7.3/10 | 7.1/10 | 7.1/10 |
| Karvy | 7.3/10 | 7.3/10 | 7.2/10 | 7.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 7.6/10 | 7.3/10 | 7.2/10 |
Crystal Crop Protection IPO Grey Market Premium
The general trend is that the grey market opens 15 days before the release of the IPO. Also, the grey market price or the kostak prices also start floating across only 15 days prior to the release of the IPO. Hence , this detail would be available only after a short while.
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Crystal Crop Protection IPO News
News 1 –Crystal Crop Protection files Rs 1000 crore IPO papers
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