Mumbai, May 7 -- US-based FMC Corporation, a global agricultural sciences company, on Thursday said it has signed an agreement to sell its India commercial business to IPO-bound Crystal Crop Protection Ltd, a crop solutions company in New Delhi, for about $252 million.

"FMC's innovative portfolio, blockbuster brands and future pipeline give us an opportunity to provide Indian farmers access to innovative products," Crystal's chairman and managing director, Ankur Aggarwal, said in a statement. He added that the deal is aimed at accelerating innovation across both chemical and biological domains of crop protection.

FMC will continue to receive all cash generated from the ongoing operation of the India business until closing, primarily thr...