Crystal Crop Protection files for Rs 600 cr IPO

New Delhi: Crop solutions firm Crystal Crop Protection has filed draft papers with the market regulator Sebi to mobilise funds through an initial public offering (IPO) comprising a fresh issue of shares worth Rs 600 crore.

Apart from fresh issues, there will be an offer for sale (OFS) of 74,05,387 shares by promoters and investors, according to the draft red herring prospectus (DRHP).

As a part of the OFS, existing investors -- International Finance Corporation and IFC Emerging Asia Fund LP -- would offload shares. Proceeds from the fresh issue would be used for debt payment of the company as well as its subsidiary.