GSP Crop Science, which launched its initial public offering (IPO) to raise Rs 400 crore from the primary market, was subscribed 0.47 times on the first day of bidding on Monday. The Ahmedabad-based agrochemical company manufactures insecticides, herbicides, fungicides, and other chemicals.
Ahead of its listing, the grey market premium (GMP) for the mainboard issue is drawing significant interest from investors eyeing the GSP Crop Science IPO. The current GMP suggests a flat listing when the stock makes its debut next week.
Investors who want to bid for shares in the IPO must check the following details before making an investment call.
GSP Crop Science IPO GMP Today
According to InvestorGain, the GMP for the GSP Crop Science IPO was Rs 0 on March 17. This means that the unlisted shares of the company were trading at Rs 320, the upper limit of the IPO price band.
Note: GMP does not represent official data and is based on speculation.
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GSP Crop Science IPO: Key Details
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 price band for the IPO is set between Rs 304 and Rs 320 per share. The IPO was booked 0.47 times on Monday, with investors bidding for 42,37,658 shares against the 89,47,367 shares on offer. The demand for the mainboard offer was led by QIBs, who fully subscribed the issue on the opening 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.
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GSP Crop Science IPO: Important Dates
The subscription window for the IPO will remain open till 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.
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 GSP Crop Science
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.
Financials
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.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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