GSP Crop Science shares list at 4% premium on D-Street; check per lot gains

GSP Crop Science IPO shares listed at Rs 332.30 apiece against the issue price of Rs 320, translating into a premium of 3.84 per cent on debut on the BSE. On the NSE as well, the stock opened at Rs 328, up around 2.50 per cent from the issue price.

At the time of writing (10:15 am), the stock was trading up at 6.94 per cent on NSE, w.r.t. the issue price.

How much did investors gain per lot?

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Investors who applied for one lot made a gain of Rs 565. On the BSE, the stock is listed with a premium of Rs 12.3 per share. On the NSE, the shares debuted at Rs 328, translating into a listing gain of Rs 368 per lot.

GSP Crop Science IPO subscription highlights

The Rs 400 crore public issue of GSP Crop Science Ltd concluded its three-day bidding process on March 18, with an overall subscription of 1.61 times, according to provisional data available on the exchanges. Investors bid for approximately 1.43 crore shares against the total number of shares offered.

• Qualified Institutional Buyers (QIBs) booked 2.66 times, with 66.46 lakh shares bid against the 24.99 lakh shares reserved.
• Non-Institutional Investors (NIIs) subscribed 3.05 times, with 58.89 lakh shares bid against the 19.34 lakh reserved.
• Retail Individual Investors (RIIs) demand remained subdued and booked only 0.40 times the allotted shares, with 10.56 lakh shares bid.

GSP Crop Science IPO details

The Rs 400 crore IPO was 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 was fixed at Rs 304 to Rs 320 per share. Investors could bid in lots of 46 shares. At the upper price band of Rs 320 per share, the minimum investment required for retail investors was Rs 14,720.

GSP Crop Science IPO Lead Managers and Registrar

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

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.