GSP Crop Science share price made a moderate debut in the Indian stock market on Tuesday, March 24. The stock listed at 4% premium over the IPO price of ₹320.
GSP Crop Science share price opened at ₹332.3 on the BSE and ₹328 on the NSE. This means that the IPO allottees gained over 4% over the GSP Crop Science IPO listing.
GSP Crop Science IPO listing exceeded the market expectations. Ahead of listing, the GMP of GSP Crop Science IPO was ₹2, indicating a listing price of ₹322, which is 0.62% higher than the IPO price.
GSP Crop Science IPO details
GSP Crop Science IPO was open for bidding from March 16 to March 18. The Ahmedabad-based company had set the price band for its IPO at ₹304– ₹320 per share, valuing it at around ₹1,489 crore at the upper end.
The GSP Crop Science IPO comprises a fresh issue of shares worth ₹240 crore along with an Offer for Sale (OFS) of 50 lakh equity shares valued at ₹160 crore by promoters, taking the total issue size to ₹400 crore.
The proceeds from the fresh issue will be primarily used for debt reduction, with nearly ₹170 crore allocated for this purpose, while the remaining funds will be deployed for general corporate needs. The company is likely to debut on the stock exchanges on March 24.
GSP Crop Science Ltd is a research-driven agrochemical firm with over 39 years of experience in developing and manufacturing insecticides, herbicides, fungicides, and plant growth regulators.
It offers crop protection solutions aimed at enhancing farm productivity by producing formulations—products that blend active ingredients targeting pests, weeds, or diseases with additives to improve effectiveness and stability—as well as technicals, which are concentrated active ingredients used in manufacturing such formulations.
As of September 30, 2024, the company had secured 507 registrations across its formulations and technical products, backed by a strong emphasis on research and development.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
