GSP Crop Science IPO Allotment: The initial public offering (IPO) of GSP Crop Science saw robust investor participation, and attention has now turned to the IPO allotment date, which is expected to be finalised today, March 20.
The issue was open for subscription from March 16 to March 18. With the allotment likely to be completed today, the company is gearing up for its listing on Tuesday, March 24. GSP Crop Science shares are set to debut on both the NSE and BSE.
Once the basis of allotment is determined today, equity shares will be credited to the demat accounts of successful bidders, while refunds for applicants who did not receive an allotment will be processed on Monday, March 23.
Investors can check the GSP Crop Science IPO allotment status online either through the BSE website or via MUFG Intime India, the registrar to the issue.
GSP Crop Science IPO GMP Today
GSP Crop Science shares are showing moderate activity in the grey market. According to market trackers, the IPO GMP stands at ₹0 per share today. Based on this premium, the stock is estimated to list at around ₹320 apiece, same as IPO price.
GSP Crop Science IPO Subscription Status,
The IPO was subscribed 1.64 times by end of Day 3. The retail portion was subscribed 0.42 times, and NII portion was booked 3.14 times while the Qualified Institutional Buyers (QIBs) portion received 2.66 times bids.
The company has received bids for 1.43 crore shares against 87.50 lakh shares on offer.
Here are a few simple steps must be followed to access the IPO’s allotment status online.
GSP Crop Science IPO Allotment Status: BSE and NSE
Step 1] Visit BSE allotment status page on its website here – https://www.bseindia.com/static/investors/application_statuschecksystem.aspx
For NSE, visit allotment page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Step 2] Select ‘Equity’ on BSE and ‘Equity & SME IPO bid details’ on NSE
Step 3] Choose ‘GSP Crop Science’ from the Issue Name dropdown menu
Step 4] Enter your PAN and Application Number
Your GSP Crop Science IPO allotment status will be displayed on the screen.
GSP Crop Science IPO Allotment Status Check MUFG Intime India
Step 1] Visit the web portal of the registrar here – https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Step 2] Select ‘GSP Crop Science’ in the Select Company dropbox
Step 3] Choose among – Application Number/CAF No, Beneficiary ID, or PAN
Step 4] Enter the details as per the option selected
Step 5] Fill the captcha and hit on ‘Search’
Your GSP Crop Science IPO allotment status will be displayed on the screen.
GSP Crop Science IPO Details
Agrochemical firm GSP Crop Science launched its IPO with a total issue size of ₹400 crore, comprising a fresh issue of shares worth ₹240 crore and an offer for sale (OFS) of 50 lakh equity shares aggregating to ₹160 crore by its promoters.
The Ahmedabad-based company fixed the IPO price band at ₹304– ₹320 per share, which implied a valuation of around ₹1,489 crore at the upper end of the band.
The proceeds from the fresh issue are primarily intended for debt reduction, with approximately ₹170 crore earmarked for repayment or prepayment of borrowings. The remaining funds will be utilised for general corporate purposes. The company is slated to list on the stock exchanges on March 24.
In terms of allocation, 50% of the issue was reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors (NIIs).
GSP Crop Science is a research-driven agrochemical company with over 39 years of experience in manufacturing insecticides, herbicides, fungicides, and plant growth regulators. It offers crop protection solutions by producing both formulations—blends of active ingredients and additives to enhance effectiveness—and technicals, which are concentrated active ingredients used in formulation manufacturing.
As of September 30, 2024, the company had secured 507 product registrations across formulations and technicals, reflecting its strong focus on research and development. On the financial front, the company reported revenue from operations of ₹1,152.16 crore in FY24, compared to ₹1,203.31 crore in FY23. Profit after tax, however, rose significantly to ₹61.29 crore from ₹21.55 crore in the previous year.
