GSP Crop Science IPO opens for bidding. Check GMP, price band, subscription and other details

The IPO of agrochemical company GSP Crop Science opened for subscription on Monday, with the company looking to raise Rs 400 crore through the public issue. The IPO is priced in the Rs 304-320 per share band and will remain open for bidding until March 18. Investors can apply for a minimum of 46 equity shares and in multiples thereafter. The company plans to list its shares on both the BSE and NSE.

Grey market signals indicate muted early sentiment toward the issue, with the IPO currently commanding a grey market premium (GMP) of around 0%, implying expectations of a largely flat listing.

The IPO comprises a fresh issue of shares worth Rs 240 crore and an offer for sale of Rs 160 crore by existing shareholders, including promoters Vilasben Vrajmohan Shah, Bhavesh Vrajmohan Shah and Kappa Trust.


The IPO is being offered through the book-building route, with up to 50% of the issue reserved for qualified institutional buyers, 35% for retail investors, and up to 15% for non-institutional investors.

Proceeds from the fresh issue will primarily be used to repay or prepay certain borrowings, with Rs 170 crore earmarked for debt reduction, while the remaining funds will be used for general corporate purposes.

Business profile

GSP Crop Science is a research-driven agrochemical company engaged in the development and manufacturing of insecticides, herbicides, fungicides and plant growth regulators. The company has been operating in the agrochemical sector for more than four decades, providing crop protection products aimed at improving farm productivity and agricultural output.

As of September 2025, the company had secured 524 product registrations covering both formulations and technical agrochemicals manufactured by it.

Financial performance

Financially, GSP Crop Science has reported steady growth in recent years. For the six months ended September 2025, the company reported revenue from operations of Rs 844.2 crore and net profit of Rs 81 crore. For FY25, revenue from operations stood at Rs 1,287.38 crore, compared with Rs 1,203.3 crore in FY23, while net profit rose to Rs 81.4 crore from Rs 17.5 crore during the same period.

Equirus Capital and Motilal Oswal Investment Advisors are acting as the book-running lead managers to the issue, while MUFG Intime India is the registrar.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)