GSP Crop Science Ltd. IPO was fully booked on the third and final day of bidding on Wednesday. The portions for institutional and non-institutional investors were oversubscribed, while retail remained underbooked.
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 company will use proceeds from the IPO to clear debt and for general corporate purposes.
The subscription window will close on 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. GSP Crop Science will list on the BSE and NSE on March 24.
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.
Equirus Capital Ltd. is the book-running lead manager and MUFG Intime India Ltd. is the registrar of the issue.
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. Combined annual installed capacity stood at 15,120 MTPA for Technicals, 43,672 MTPA for Formulations and 5,400 MTPA for Intermediates as of September 2025.
The company reported a 46% 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% to Rs 1,301 crore in FY25 from Rs 1,158 crore in FY24.
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Subscription Status Day 2
The GSP Crop Science IPO has been subscribed 105% as of 12:30 p.m.
- Qualified Institutional Buyers: 1.3 times
- Non Institutional Investors: 2.6 times
- Retail Individual Investors: 28%
GSP Crop Science IPO GMP Today
The grey market premium (GMP) indicates a flat listing for the issue. According to InvestorGain, the latest GMP for the GSP Crop Science IPO was nil.
Note: GMP does not represent official data and is based on speculation.
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