GSP Crop Science IPO booked 78% so far on Day 2: Check category-wise subscription

GSP Crop Science IPO: The initial public offering of GSP Crop Science Ltd, an agrochemical company, has been subscribed 78% so far on the second day of bidding on Tuesday, March 17.

The IPO has secured bids for 69,34,592 shares compared to 89,47,367 shares on offer, according to the NSE data until 1:42 pm.

The quota for qualified institutional buyers (QIBs) was subscribed 1.28 times, while non-institutional investors' portion attracted 1.55 times subscription. The category for retail individual investors (RIIs) was booked 16%.

The ₹400 crore initial share sale, which will conclude on March 18, has set a price band of ₹304 to ₹320 per share. A lot consists of 46 shares.

The issue is a mix of a fresh issue of shares aggregating to ₹240 crore and an offer for sale (OFS) component of ₹160 crore by promoters Bhavesh Vrajmohan Shah, Vilasben Vrajmohan Shah and Kappa Trust.

Fresh issue proceeds to the tune of ₹170 crore will be utilised for repayment of certain outstanding borrowings and general corporate purposes.

GSP Crop Science IPO: Allotment and listing date

• Finalisation of allotment: March 20
• Initiation of refunds: March 23
• Credit of shares to Demat account: March 23
• Listing on the NSE and the BSE: March 24

GSP Crop Science Ltd is a research-focused agrochemical firm with more than 39 years of expertise in developing and manufacturing insecticides, fungicides, herbicides and plant growth regulators in India.

The company's revenue from operations stood at ₹1,287.38 crore in the financial year 2024-25, compared to ₹1,152.16 crore in the previous financial year. Its profit after tax was at ₹83.44 crore in FY25 vs. ₹61.33 crore in FY24.

For the six months ended September 2025, revenue and profit were ₹844.29 crore and ₹82.78 crore, respectively.

Equirus Capital and Motilal Oswal Investment Advisors are the issue's book-running lead managers. MUFG Intime India serves as the registrar.

GSP Corp Science IPO GMP

According to investorgain.com and media reports, the unlisted shares of GSP Corp Science are trading at ₹320, reflecting a grey market premium (GMP) of 0% compared to the upper price band of ₹320.