Crystal Crop plans IPO, bankers to pitch next week

Date:08-10-2017

Crystal Crop Protection, a Delhi-based maker of agrochemical products, plans to float an initial public offering (IPO) next year to raise Rs. 1000 crores, a merchant banker familiar with the development said. Most of the capital raised will be through issue of fresh shares, he said.

Singapore-based Everstone Capital is the sole institutional investor in the company, accounting for a 3.5 percent stake, according to the banker. “It had a higher stake earlier but the promoters have bought back the stake over a period,” he said.

Merchant bankers are set to make a pitch to the company next week in search of a mandate.