GSP Crop Science IPO: Final day to bid; retail interest remains muted so far—Should you subscribe?

GSP Crop Science IPO: The initial public offering (IPO) of GSP Crop Science Limited entered into the third day of its public bidding on Wednesday, March 18, 2026, with the issue subscribed 99 per cent so far of the net offer. The IPO is a mix of fresh issue and offer-for-sale (OFS) of shares.

GSP Crop Science IPO subscription status

As of 11 am, the IPO had received bids for 89.04 lakh shares out of the net offer, resulting in a 0.99 times the overall subscription, with Qualified Institutional Buyers (QIBs) leading the bidding.

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Qualified Institutional Buyers (QIBs) have booked 1.28 times, with 32.03 lakh shares bid against the 24.99 lakh shares reserved.

Non-Institutional Investors (NIIs) have subscribed 2.40 times, with 46.44 lakh shares bid against the 19.34 lakh reserved.

Retail Individual Investors (RIIs) demand remains muted so far, as they have booked 0.23 times with 10.56 lakh shares bid out of 45.13 lakh shares allotted.

GSP Crop Science IPO: Should you apply?

Earlier, market guru Anil Singhvi, Managing Editor at Zee Business, said that this is a small agrochemical company, and the overall market sentiment is weak. In such a scenario, making gains from listing can be quite difficult.

So, considering the current market conditions, the non-unique business model, and only reasonable valuations, Singhvi recommended to 'avoid' the IPO for now. He suggested evaluating it post-listing and enter at levels that investors find suitable later.

GSP Crop Science IPO details

The Rs 400 crore IPO is a book build issue consisting of a mix of fresh issue of 0.75 crore shares (Rs 240 crore) and an offer for sale (OFS) of 0.50 crore shares (Rs 160 crore).

Through OFS, the company promoters Vilasben Vrajmohan Shah, Bhavesh Vrajmohan Shah and Kappa Trust are offloading their stakes.

GSP Crop Science IPO price band and lot size

The price band for the IPO has been fixed at Rs 304 to Rs 320 per share. Investors can bid in lots of 46 shares. At the upper price band of Rs 320 per share, the minimum investment required for retail investors is Rs 14,720.

GSP Crop Science IPO key dates

Subscription date: The public issue opened for bidding on March 16 and will remain open till March 18, 2026.

Allotment date: The allotment of the IPO shares is expected to be finalised on March 20, 2026.

Listing date: The IPO shares are scheduled to list on both the stock exchanges, BSE and NSE, with a tentative listing date of March 24, 2026.

GSP Crop Science IPO Lead Managers and Registrar

The book-running lead managers for the issue are Equirus Capital Pvt Ltd and Motilal Oswal Investment Advisors Limited, while MUFG Intime India Pvt Ltd has been appointed as the registrar.

About GSP Crop Science Limited

Established in 1985, GSP Crop Science Limited operates in the agrochemical space, focusing on the production of insecticides, herbicides, fungicides, and plant growth regulators. The company’s market capitalisation is around Rs 1,500 crore.

The company develops solutions aimed at improving farm productivity by protecting crops from pests, weeds, and diseases. Its offerings include both formulations—combinations of active ingredients and additives—and technical-grade products, which are concentrated active substances used in agrochemical manufacturing.

With a broad in-house product range, the company is involved in the end-to-end process of developing, manufacturing, and distributing agrochemical products, catering to diverse agricultural requirements.