The IPO comprises a fresh issue of Rs 240 crore and an offer for sale of Rs 160 crore. The price band is set at Rs 304 to Rs 320 per share, and the issue will remain open for bidding until March 18. Investors can apply for a minimum of 46 shares, with additional shares in multiples of 46. The company plans to list on both the BSE and NSE.
Grey market trends suggest muted early sentiment, with the IPO currently showing a grey market premium (GMP) of around 0%, indicating expectations of a largely flat listing.
GSP Crop Science IPO Day 1 subscription update
As of 3:30 pm on Day 1, the GSP Crop Science IPO is 45% subscribed overall.
Retail Individual Investors (RIIs): 8% subscription on 45.13 lakh shares offered
Non-Institutional Investors (NIIs): 21% subscription on 19.35 lakh shares offered
Qualified Institutional Buyers (QIBs): 1.28 times subscription on 24.99 lakh shares offeredThe IPO is being launched through the book-building route, with up to 50% of the issue reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors and up to 15% for non-institutional investors.
Use of proceeds
Funds raised from the fresh issue will primarily be used to repay or prepay certain borrowings, with Rs 170 crore earmarked for debt reduction. The remaining proceeds will be utilised for general corporate purposes.
Business profile
GSP Crop Science is a research-driven agrochemical company specialising in the development and manufacturing of insecticides, herbicides, fungicides and plant growth regulators. With over four decades in the agrochemical sector, the company provides crop protection solutions aimed at enhancing farm productivity and agricultural output.
As of September 2025, GSP Crop Science had secured 524 product registrations covering both formulations and technical agrochemicals manufactured by the company.
Financial performance
GSP Crop Science has shown consistent growth in recent years. For the six months ended September 2025, the company reported revenue from operations of Rs 844.2 crore and a net profit of Rs 81 crore. For FY25, revenue stood at Rs 1,287.38 crore, up from Rs 1,203.3 crore in FY23, while net profit increased to Rs 81.4 crore from Rs 17.5 crore during the same period.
Lead managers and registrar
Equirus Capital and Motilal Oswal Investment Advisors are serving as the book-running lead managers, while MUFG Intime India is acting as the registrar for the issue.
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