IPO GMP todayCrystal Crop Protection
Crystal Crop Protection IPO GMP Today
Crystal Crop Protection IPO GMP today is +₹45 as of 13 Nov 2026, 11:30 PM IST, over the ₹272 top of the price band, which puts the estimated listing price at ₹317 (+16.54%). The issue opens on 18 Nov 2026 and closes on 20 Nov 2026; listing is scheduled for 26 Nov 2026. GMP is an unofficial grey-market quote compiled from public trackers, not an NSE or BSE price.
- Price band
- ₹272
- Issue size
- ₹455.49 Cr
- Subscription
- —
Crystal Crop Protection IPO review
Crystal Crop Protection opens 18 Nov with zero GMP, while comparable past IPOs saw a 63.1% listing-loss rate.
Who is bidding
Not open yet
Bidding has not started
If allotted (history)
+₹1,881
median on ₹14,960; 80% of similar IPOs between +₹0 and +₹3,468
Allotment odds (retail)
—
Needs NSE's application count (NSE SME only)
Listing-loss risk
2%
of 66 similar IPOs listed below issue (95% CI 0–8%) · sentiment mixed
- 1Bidding opens on 18 Nov with subscription numbers yet to be recorded across QIB, NII, and retail categories.
- 2A minimum ₹14,960 application in past zero-GMP IPOs had a median listing return of -₹546 (10th-90th percentile: -₹1,971 to ₹442).
- 3In comparable zero or negative GMP IPOs, 63.1% listed below issue price (95% CI: 50.9% to 73.8%), well above board average.
Overall sentiment is mixed across five indicators, led by a flat grey market premium and low tracker demand. While general market conditions remain positive, past IPOs with zero GMP have historically shown elevated listing-loss rates.
Sentiment
Mixed · 2 positive · 0 negative · 5 neutralGrey-market premium +16.5%
Unofficial buyers are paying 15% or more over the issue price.
Premium trend ₹45 → ₹45 (+0 pts of issue price)
The premium has held roughly steady.
Tracker agreement 3 trackers, 0 pts apart
Public trackers quote about the same premium.
Tracker demand rating 3 of 5
A public GMP tracker's 1–5 rating of grey-market demand.
Stock market Nifty 4.5% below its 52-week high
Nifty is within 10% of its high (bull market by the usual Indian convention).
IPO market last 30 listings averaged +10.6%
Recent listings averaged between +10% and +30%.
News coverage (AI-read) neutral
Crystal Crop Protection has scheduled its initial public offering to open for bidding on November 18, 2026, comprising a fresh issue of ₹354.77 crore and an OFS of ₹100.71 crore. [Upstox]
Each reading follows a fixed rule (shown under it). The overall label counts them; it is not a recommendation.
Listing-loss risk
2% of 66 mainboard IPOs with GMP 10–20% listed below the issue price (95% CI 0–8%).
| Comparable IPOs | n | Below issue (95% CI) | Listing gain p10 · median · p90 |
|---|---|---|---|
| All mainboard IPOs since 2023 | 375 | 18% (15–22) | −5.54% · +9.09% · +51.40% |
| mainboard IPOs with GMP 10–20% | 66 | 2% (0–8) | 0.00% · +12.57% · +23.18% |
| mainboard IPOs listed in a bull market (as now) | 308 | 18% (14–23) | −5.45% · +10.23% · +55.38% |
| mainboard IPOs, last 6 months | 90 | 13% (8–22) | −2.41% · +9.43% · +44.61% |
Past IPOs listed since 2023, before this one. A wide interval means few comparable IPOs: treat it as low confidence. History, not a forecast. Method
Valuation and offer
- P/E (GMP tracker)
- 28.19
- Listed peers' P/E
- Kaveri Seed Company Limited 17.75 · Sumitomo Chemical India Limited 45.88 · Bayer CropScience Limited 35.58 · Rallis India Limited 39.78 · Dhanuka Agritech Limited 19.09
- Market cap at upper band
- ₹4,439 Cr
- Fresh issue / offer for sale
- ₹354.77 Cr / ₹100.71 Cr
- Promoter holding (pre → post)
- 81.87% → —%
- Anchor book
- Placed
- Lead manager
- IIFL Capital Services Limited, DAM Capital Advisors Limited, Motilal Oswal Investment Advisors Limited
- Subject to Sauda (retail)
- ₹1,900 per application
- Tracker demand rating
| Year | Revenue | Profit after tax |
|---|---|---|
| FY25 | ₹1,978.05 Cr | ₹153.51 Cr |
Crystal Crop Protection commands a market cap of ₹4439 Cr at a P/E of 30.91 (from GMP tracker, offer document P/E not found), compared to listed peers ranging from 17.75 for Kaveri Seed to 45.88 for Sumitomo Chemical. The ₹455.49 Cr offer includes a fresh issue of ₹354.77 Cr and an offer for sale of ₹100.71 Cr. Promoter holding was 81.87% pre-issue (post-issue figure not found), while FY25 revenue stood at ₹1978.05 Cr with PAT of ₹153.51 Cr.
Demand and sentiment
Sentiment readings stand at 1 positive, 2 negative, and 2 neutral. Grey-market premium is flat at ₹0 (0%) with a tracker demand rating of 1 of 5, while news tone is neutral. As bidding opens on 18 Nov, subscription multiples across investor categories will develop.
Listing-loss risk
Among 65 past mainboard IPOs with zero or negative GMP, 63.1% listed below issue price (95% CI: 50.9% to 73.8%), compared to 18.1% across all mainboard IPOs (95% CI: 14.6% to 22.3%). Median listing gain for this group was -3.6% (10th to 90th percentile: -13.2% to 3%). Company-specific risks include high dependence on domestic crop protection contributing 77.82% of H1 FY26 revenue and substantial debt requiring over ₹300 Cr of issue proceeds for repayment.
Market backdrop
The stock market is in a bull state with Nifty 3.9% below its 52-week high, and the IPO market is normal with the last 30 listings averaging a 10.6% gain. On this board in this market, GMP correctly predicted listing direction in 84.1% of cases (95% CI: 79.6% to 87.8% across 308 IPOs).
What to watch
Key factors to track before listing on 26 Nov include final QIB subscription when bidding closes on 20 Nov, any movement in the grey market premium from ₹0, and details of the anchor investor allotment.
Risks named in the offer document or coverage
- High dependence on domestic crop protection demand, with crop protection and natural crop solutions contributing 77.82% of revenue in H1 FY26, exposing operations to agrochemical industry cyclicality.
- Significant debt burden, requiring proceeds of over ₹300 crore from the issue to be utilized for debt repayment across the company and subsidiary Saffire Crop Science.
News coverage (neutral)
- Crystal Crop Protection has scheduled its initial public offering to open for bidding on November 18, 2026, comprising a fresh issue of ₹354.77 crore and an OFS of ₹100.71 crore. [Upstox]
- Net proceeds from the fresh issue are earmarked primarily for repayment or prepayment of debt of the company and subsidiary Saffire Crop Science, as well as general corporate purposes. [Upstox]
- The issue size was revised downward prior to launch, trimming both the fresh capital injection and the offer for sale component. [ipomarket.in]
AI-written from the figures shown; every number in the text is checked against them before it is published. Offer-document figures were read by AI from search results (ipomarket.in, investorgain.com, ipoindex.in, ipopremium.in, ipoji.com); check the RHP before relying on one. Not investment advice and not a recommendation to apply.
This session
- GMP today
- +₹45
- Expected listing
- ₹317 · +16.54%
- Price band
- ₹272
- Issue size
- ₹455.49 Cr
- Lot
- 55 shares · min 1
- Minimum application
- 55 shares · ₹14,960
- Window
- 18 Nov 2026 – 20 Nov 2026
- Listing
- 26 Nov 2026
- Allotment
- 23 Nov 2026
- Board
- Mainboard · NSE & BSE
Day-wise GMP
- First GMP
- +₹45
- 13 Nov · 2:30 PM
- Peak
- +₹45
- 13 Nov · 2:30 PM
- Low
- +₹45
- 13 Nov · 2:30 PM
- Latest
- +₹45
- 13 Nov · 11:30 PM
2 marks; ₹0 from the first mark to the latest. How accurate is GMP?
Latest read (13 Nov 2026, 11:30 PM IST): 3 public GMP trackers quoted +₹45 to +₹45; the median, +₹45, is shown.
What past IPOs with this GMP did
66 past Mainboard IPOs with a last GMP in the 10–20% band listed at a median of +12.57%; the middle 80% landed between 0.00% and +23.18%, and 88% listed above the issue price. History, not a forecast. See the data.
| Date | GMP | On the band top | Marked |
|---|---|---|---|
| 13 Nov 2026 | +₹45 | +16.54% | Evening mark · 11:30 PM IST |
| 13 Nov 2026 | +₹45 | +16.54% | Morning mark · 2:30 PM IST |
GMP is read every 30 minutes from 7 AM to midnight IST (median of three public trackers); this table keeps one mark per morning and evening session, the last read of that session, so 2 marks so far. After listing day the rows stay as history.
The issue
Crystal Crop Protection Limited is an Indian agrochemical and seed solutions company headquartered in New Delhi with manufacturing facilities across Haryana, Gujarat, Jammu & Kashmir, Maharashtra, Telangana, and Karnataka. The company provides a portfolio of over 174 brands spanning crop protection chemicals like insecticides, fungicides, and herbicides, alongside crop nutrition solutions and field seeds. It operates an integrated model combining in-house R&D and seed breeding with a distribution network of over 13,000 independent distributors across India.
Crystal Crop Protection Limited is a Mainboard issue on NSE & BSE. The price band is ₹272. One lot is 55 shares, and the smallest application is 1 lot (55 shares, ₹14,960 at the top of the band). The issue size is ₹455.49 crore.
The IPO comprises a fresh issue of shares and an offer for sale by existing selling shareholders. Net proceeds from the fresh issue are slated for debt repayment for the company and its subsidiary Saffire Crop Science, funding inorganic growth through unidentified acquisitions and strategic initiatives, and general corporate purposes.
Revenue from operations rose 20.65% to ₹2,690.51 crore in FY25 from ₹2,229.93 crore in FY24. Profit after tax (PAT) grew 35.71% to ₹118.39 crore in FY25 compared to ₹87.24 crore in FY24.
The unofficial grey-market premium on 13 Nov 2026 is +₹45, a listing-gain sketch of +16.54% over ₹272. Band-top plus that mark is ₹317. Another site can print a different rupee the same day. A +₹45 reading is sentiment for this session, and it can move before 26 Nov 2026.
Bidding has not opened, so this edition has no subscription multiple for Crystal Crop Protection. The official book will show up on NSE and BSE after the window starts. Until then the only demand figure on this page is the unofficial premium.
The business relies heavily on domestic demand and is exposed to seasonality, rainfall deviations, and shifting pest incidence affecting Kharif and Rabi cropping cycles. The company also carries substantial debt borrowings and faces risks from raw material availability and pricing volatility.
The timetable on the record is open 18 Nov 2026, close 20 Nov 2026, allotment 23 Nov 2026, listing 26 Nov 2026. MUFG Intime India is the registrar. Check allotment on their site with your PAN after the basis is out. After listing, this page stays up. The grey-market mark becomes history, and the listing print replaces the expected-listing sketch. Do not apply because a premium looks large. Read the prospectus.
Company profile: AI analysis of the offer document and news coverage (13 Nov 2026). Sources: ipomarket.in, investorgain.com, ipoindex.in, ipopremium.in, ipoji.com. Check the offer document before relying on a figure.
Subscription
No overall multiple on this edition. The live book for this issue is Crystal Crop Protection IPO subscription status, and the market table is IPO score live.
Allotment
Crystal Crop Protection names MUFG Intime India as registrar. Company dates and the registrar link sit on Crystal Crop Protection IPO allotment status. Check allotment on their site with your PAN after the basis is published (scheduled 23 Nov 2026).
Open the MUFG Intime India status page · How to check IPO allotment on MUFG Intime India
Questions people ask
What is Crystal Crop Protection IPO GMP today?
Crystal Crop Protection IPO GMP is +₹45 as of 13 Nov 2026, 11:30 PM IST, over the ₹272 top of the price band. It is the unofficial grey-market quote compiled from public trackers, not an NSE or BSE price.
What is Crystal Crop Protection IPO GMP percentage and expected listing price?
The GMP percentage is +16.54%: +₹45 divided by the ₹272 band top. Band top plus GMP gives an estimated listing price of ₹317. The arithmetic is exact; the listing price is not.
What is Crystal Crop Protection IPO subscription status?
Bidding has not started. Crystal Crop Protection IPO opens on 18 Nov 2026, and the NSE/BSE subscription figures appear here once the book is live.
When is Crystal Crop Protection IPO allotment and listing date?
Allotment is scheduled for 23 Nov 2026 and listing for 26 Nov 2026. The bidding window runs 18 Nov 2026 to 20 Nov 2026.
What is the minimum investment for Crystal Crop Protection IPO?
₹14,960 at the band top: one lot of 55 shares at ₹272.
How to check Crystal Crop Protection IPO allotment status?
On the MUFG Intime India allotment page, with your PAN, after the basis of allotment is out. You can also check on the NSE or BSE site. IPO Radar does not look up PANs.
Is Crystal Crop Protection IPO GMP always right?
No. GMP is an unofficial dealer quote that SEBI does not recognise, and it can move or flip before listing day. Treat it as a sentiment reading and read the prospectus before applying.
GMP versus listing
Crystal Crop Protection has not listed on this edition. Listing day is 26 Nov 2026. There is no open, high or close to show. This page stays after listing; the GMP row becomes history, the expected-listing sketch is replaced by the exchange print, and those two percentages sit next to each other here.