GSP Crop Science IPO
The largest of the upcoming issues is from agrochemical manufacturer GSP Crop Science, which plans to raise Rs 400 crore through its public offering. The IPO will open for subscription on March 16 and close on March 18, with a price band fixed at Rs 304 to Rs 320 per share.
The IPO is a combination of a fresh issue of Rs 240 crore and an offer for sale of Rs 160 crore by promoters, including Vilasben Vrajmohan Shah, Bhavesh Vrajmohan Shah and Kappa Trust. Investors can bid for a minimum of 46 shares and in multiples thereafter.
Founded more than four decades ago, GSP Crop Science is a research-driven agrochemical company that develops and manufactures insecticides, herbicides, fungicides and plant growth regulators used for crop protection. The company has built a wide portfolio of agrochemical products and has 524 registrations across formulations and technical agrochemicals as of September 2025.
Financially, the company reported revenue of Rs 1,287 crore in FY25, compared with Rs 1,203 crore in FY23. Net profit stood at Rs 81 crore in FY25, up from Rs 17 crore in FY23. For the six months ended September 2025, revenue came in at Rs 844 crore, with net profit of Rs 81 crore.
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The company plans to utilise Rs 170 crore from the fresh issue to repay or prepay certain borrowings, while the remaining proceeds will be used for general corporate purposes. The IPO will be managed by Equirus Capital and Motilal Oswal Investment Advisors.
CMPDI IPO
The second mainboard offering next week will come from CMPDI, a consultancy arm of Coal India, which will open its IPO on March 20 and close on March 24. The GMP for CMPDI in the unofficial market is around Rs 24.
The issue consists entirely of an offer for sale of 10.71 crore shares, with the government and Coal India diluting part of their stake in the company. Since the issue is an OFS, CMPDI will not receive any proceeds from the IPO; the funds will go to the selling shareholders.
The price band and issue size in rupee terms are yet to be announced, though the shares are scheduled to list on both the BSE and NSE with a tentative listing date of March 30.
CMPDI, incorporated in 1974, provides consultancy services across the coal and mineral value chain, including geological exploration, mine planning, environmental management, and remote sensing. The company commands a 61% market share in India’s coal and mineral consultancy space and serves as the preferred consulting partner for Coal India.
Coal India arm CMPDI to launch IPO on March 20. All you need to know
For FY25, CMPDI reported revenue of Rs 2,177 crore and profit after tax of Rs 667 crore, reflecting steady growth in its consultancy business.
SME segment
Alongside the mainboard offerings, the SME segment will also see one new issue opening next week. Novus Loyalty Limited will launch its IPO on March 17, with the issue closing on March 20.
The SME IPO has a price band of Rs 139 to Rs 146 per share and aims to raise around Rs 60.15 crore. The shares will be listed on the BSE SME platform, with Smart Horizon Capital acting as the lead manager.
Listings
Apart from the three upcoming IPOs, three companies — Rajputana Stainless, Apsis Aerocom and Raajmarg Infra Investment Trust — are also expected to make their stock market debut during the week, keeping the listing calendar active even as broader market volatility continues to influence investor sentiment.