The initial public offering (IPO) for GSP Crop Science has opened today, and is open for subscription till March 18. As of 11 am on day 1, the IPO has been subscribed only 1%.
There have been no subscriptions by qualified institutional buyers (QIBs) or non-institutional investors (NIIs) yet. The retail quota has been suscribed by 3%.
GSP Crop Science has launched an IPO to raise Rs 400 crore from the primary market. It is an agrochemical company that manufactures insecticides, herbicides, fungicides, and other chemicals.
GSP Crop Science IPO: Key Details
The price band for the IPO is set between Rs 304 and Rs 320 per share. The GSP Crop Science IPO is a book build issue of Rs 400 crore. It comprises a fresh issue of 75 lakh shares worth Rs 240 crore and an offer-for-sale (OFS) of 50 lakh shares amounting to Rs 160 crore.
The subscription window will be open from March 16 to March 18, with the allotment expected to be finalised on March 20. The company will transfer shares to the demat accounts of successful bidders on March 23 and refunds for non-allottees will be done on the same day.
To participate in the IPO, retail investors need to bid for a single lot size of 46 shares, requiring an investment of Rs 14,720. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,06,080. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,00,960.
Equirus Capital Ltd. is the book-running lead manager and MUFG Intime India Ltd. is the registrar of the issue.
The shares of the company are scheduled to list on the BSE and NSE on March 24.
Use Of Proceeds
The company will use proceeds from the IPO to clear debt and for general corporate purposes.
About The Company
GSP Crop Science is an agrochemical company producing insecticides, herbicides, fungicides, and plant growth regulators. It was established in 1985 and is headquartered in Ahmedabad.
The company reported a 46.6% year-on-year (YoY) rise in net profit to Rs 81.42 crore in FY25 from Rs 55.54 crore in FY24. Total income grew 12.33% to Rs 1,301.06 crore in FY25 from Rs 1,158.23 crore in FY24.
GSP Crop Science IPO GMP Today
As 3-day subscription period begins, the grey market premium (GMP) indicates a flat listing for the issue. According to InvestorGain, the GMP for the GSP Crop Science IPO was nil on March 16. It indicates a flat listing for the offer.
Note: GMP does not represent official data and is based on speculation.
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