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Crystal Crop Protection files Rs 1,000 crore IPO papers
Apr. 9, 2018
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India
Agro-chemical firm Crystal Crop Protection recently filed draft papers with markets regulator Sebi to raise Rs 1,000 crore through an initial public offering (IPO).
The IPO comprises fresh issue of shares worth up to Rs 545 crore and an offer for sale of up to Rs 455 crore, from promoter and existing shareholders including Everstone Capital, according to the draft prospects filed with Sebi.
Proceeds from the issue will be utilised towards repayment of certain working capital facilities availed by the company, funding acquisitions and other strategic initiatives; and other general corporate purposes.
The company has a diversified business, from manufacturing and marketing domestic agrochemicals to manufacturing and distribution of seeds, and the distribution of agri-equipment and exports of agrochemical products.
Source: Crystal Crop Protection
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