Upcoming IPOs: GSP Crop Science, CMPDI, Novus Loyalty issues to open, 3 listings scheduled; check list

Upcoming IPOs next week: The week starting March 16 will see at least three initial public offerings open for subscription. They include mainboard issues of GSP Crop Science and Central Mine Planning & Design Institute and an SME IPO of Novus Loyalty.

Listings that are scheduled for next week include Rajputana Stainless, Innovision and Apsis Aerocom.

GSP Crop Science IPO

Agrochemical Company GSP Crop Science's ₹400 crore initial share sale will be live from March 16 to March 18. The price band has been set at ₹304 to ₹320 per share.

The Ahmedabad-based company's IPO is a mix of a fresh issue of shares valued at ₹240 crore and an offer for sale (OFS) component of 50 lakh equity shares aggregating to ₹160 crore by promoters Vilasben Vrajmohan Shah, Kappa Truest and Bhavesh Vrajmohan Shah.

The proceeds from the issue will be utilised for debt clearance and general corporate purposes.

The application size is 46 shares.

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

It operates four manufacturing plants, with a combined annual installed capacity of 15,120 MTPA for technical and 43,672 MTPA for formulations.

The company posted a revenue from operations of ₹1,287.38 crore in the financial year 2025 as compared to ₹1,152.16 crore in the preceding fiscal 2024. Profit after tax surged to ₹82.13 crore in FY25 from ₹61.28 crore in fiscal 2024.

Half of the issue size has been kept aside for qualified institutional buyers, 35% for retail individual investors and the remaining 15% for non-institutional investors.

CMPDI IPO

The initial public offering of Central Mine Planning & Design Institute Limited (CMPDI), a subsidiary of Coal India, will be open for subscription from March 20 to March 24.

The consultancy firm's IPO is exclusively an offer for sale (OFS) of 107,100,000 shares by promoter Coal India Ltd.

Novus Loyalty IPO

The ₹60.15 crore SME issue of Novus Loyalty is a mix of a fresh issue worth ₹48.18 crore and an OFS of ₹11.97 crore by Deepak Tomar and Sweta Singh. The IPO, which has set a price band of ₹139 to ₹146 per share, is open from March 17 to March 20.

The lot size for an application is 1,000 shares. The least investment by an individual investor is 2,000 shares.

The funds raised will be used for upgrading existing products and developing new products, business development and marketing activities and general corporate purposes.

Novus Loyalty is a technology-driven company, which offers loyalty and rewards solutions for industries like e-commerce, fintech, software, finance, banking, real estate and FMCG.