International Finance Corporation (IFC)-backed Crystal Crop Protection, a Delhi-headquartered agrochemicals and seeds solutions company, has decided to reduce the size of its initial public offering (IPO).
The decision follows SEBI regulations and guidance permitting issuers to increase or decrease the fresh issue size by up to 50 percent without refiling the draft red herring prospectus (DRHP) for IPOs opening on or before March 31, 2027.
Accordingly, the crop solutions company has reduced the fresh issue size to Rs 439.3 crore. The offer-for-sale (OFS) component has also been reduced to 37.02 lakh equity shares.
"The list of selling shareholders and all references to the fresh issue, offer for sale and offer in the DRHP will be revised and modified at all applicable places in the red herring prospectus, abridged prospectus and prospectus, as applicable," the company said in a notice to investors on October 21.
Crystal Crop Protection had approached the capital markets in December 2025 by filing draft papers to raise up to Rs 600 crore through a fresh issue of shares, alongside an OFS of 74.05 lakh shares. The Securities and Exchange Board of India (SEBI) cleared the company's IPO papers in May 2026.