GSP Crop Science IPO opens March 16: Price band set at ₹304 to ₹320 per share, check lot size and key dates

GSP Crop Science IPO: The initial public offering of agrochemical player GSP Crop Science will hit the primary market on March 16. The issue will conclude on March 18. The price band has been fixed at ₹304 to ₹320 per share.

The initial share sale seeks to raise ₹400 crore through a fresh issuance of ₹240 crore and an offer for sale (OFS) component of ₹160 crore by promoters Vilasben Vrajmohan Shah, Kappa Trust and Bhavesh Vrajmohan Shah.

The net proceeds from the fresh issue will be used for repayment of certain outstanding borrowing availed by the company and general corporate purposes.

"Our company expects to receive benefits of listing of the equity shares, including to enhance our visibility and our brand image among our existing and potential customers and creation of a public market for our equity shares in India," the firm said in its red herring prospectus (RHP).

GSP Crop Science IPO: Lot size

A lot consists of 46 shares in multiples thereof. Half of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

GSP Crop Science IPO key dates

About GSP Crop Science

GSP Crop Science is a research-driven agrochemical company which specialises in the manufacturing of herbicides, insecticides, fungicides and plant growth regulators in India. It provides crop protection solutions designed to support farmers in maximising productivity and accomplishing optimal agricultural output via development, manufacturing, supply and distribution of formulations (active ingredients and additives) and technical (concentrated form of the active ingredients). It serves customers in India and 37 countries.