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GSP Crop Science IPO Details

Bookbuilding IPO | ₹400 Cr | Listed at BSE, NSE | Mon, Mar 16, 2026 - Wed, Mar 18, 2026

IPO Stats
IPO Timetable
FAQ

GSP Crop Science IPO is a book build issue of ₹400.00 crores. The issue is a combination of fresh issue of 0.75 crore shares aggregating to ₹240.00 crores and offer for sale of 0.50 crore shares aggregating to ₹160.00 crores.

GSP Crop Science IPO bidding started from Mar 16, 2026 and ended on Mar 18, 2026. The allotment for GSP Crop Science IPO was finalized on Mar 20, 2026. The shares got listed on the NSE and the BSE on Mar 24, 2026.

GSP Crop Science IPO is set final issue price at ₹320 per share. The lot size for an application is 46 shares. The minimum amount of investment required by an individual investor (retail) is ₹14,720 (46 shares) (based on upper price). The lot size investment for sNII is 14 lots (644 shares), amounting to ₹2,06,080, and for bNII, it is 68 lots (3,128 shares), amounting to ₹10,00,960.

Equirus Capital Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.

Refer to GSP Crop Science IPO RHP for detailed Information.

IPO Stock Quote & Charts

IPO Details

IPO Date

16 to 18 Mar, 2026
Listing Date

Tue, Mar 24, 2026
Face Value

₹10 per share
Price Band

₹304 to ₹320
Issue Price

₹320 per share
Lot Size

46 Shares
Sale Type

Fresh capital cum OFS
Issue Type

Bookbuilding IPO
Listing At

BSE, NSE

Total Issue Size

1,25,00,000 shares (agg. up to ₹400 Cr)
Fresh Issue

75,00,000 shares (agg. up to ₹240 Cr)
Offer for Sale

50,00,000 shares of ₹10 (agg. up to ₹160 Cr)
Share Holding Pre Issue

4,65,18,750 shares
Share Holding Post Issue

4,65,18,750 shares
BSE Script Code / NSE Symbol

544733 / GSPCROP
ISIN

INE713R01022

IPO Timetable (Tentative)

IPO Open

Mon, Mar 16, 2026
Allotment

Fri, Mar 20, 2026
Credit of Shares

Mon, Mar 23, 2026

IPO Close

Wed, Mar 18, 2026
Refund

Wed, Apr 1, 2026
Listing

Tue, Mar 24, 2026

IPO Reservation

GSP Crop Science IPO offers total 1,25,00,000 shares. Out of which 62,50,000 (50.00%) allocated to QIB, 25,00,000 (20.00%) allocated to QIB (Ex- Anchor), 18,75,000 (15.00%) allocated to NII 43,75,000 (35.00%) allocated to RII and 37,50,000 (30.00%) allocated to Anchor investors.

Investor Category	Shares Offered	Max Allottees
QIB Shares Offered	62,50,000 (50.00%)	NA
− Anchor Investor Shares Offered	37,50,000 (30.00%)	NA
− QIB (Ex. Anchor) Shares Offered	25,00,000 (20.00%)	NA
NII (HNI) Shares Offered	18,75,000 (15.00%)	NA
− bNII > ₹10L	12,50,000 (10.00%)	1,940
− sNII < ₹10L	6,25,000 (5.00%)	970
Retail Shares Offered	43,75,000 (35.00%)	95,108
Total Shares Offered	1,25,00,000 (100.00%)

IPO Lot Size

Investors can bid for a minimum of 46 shares and in multiples thereof.

Application	Lots	Shares	Amount
Retail (Min)	1	46	₹14,720
Retail (Max)	13	598	₹1,91,360
S-HNI (Min)	14	644	₹2,06,080
S-HNI (Max)	67	3,082	₹9,86,240
B-HNI (Min)	68	3,128	₹10,00,960

IPO Subscription Details

IPO Anchor Investors

GSP Crop Science IPO raises ₹120.00 crore from anchor investors. GSP Crop Science IPO Anchor bid date is March 13, 2026.
📝 Anchor Investors Letter (PDF)

Bid Date	Fri, Mar 13, 2026
Shares Offered	37,50,000
Anchor Portion (₹ Cr.)	120.00
Anchor lock-in period end date for 50% shares (30 Days)	Sun, Apr 19, 2026
Anchor lock-in period end date for remaining shares (90 Days)	Thu, Jun 18, 2026

IPO Anchor Investors List

About GSP Crop Science Ltd.

Incorporated in 1985, GSP Crop Science Limited is an agrochemical company engaged in the business of manufacturing insecticides, herbicides, fungicides and plant growth regulators.

The company provides crop protection solutions to help farmers increase productivity, offering formulations (active ingredients and additives) and technicals (concentrated active ingredients) for effective pest, weed, and disease control.

The company offers a diverse portfolio of in-house manufactured agrochemicals, providing crop protection solutions through the development, manufacturing, supply, and distribution of Formulations and Technicals to meet customer needs.

The company have served customers spread across 20 states in India in the six months ended September 30, 2025 and Fiscals 2025, 2024 and 2023.

The company’s international business is spread across 37 countries, including the United States of America, Uruguay, Brazil, Vietnam, Singapore, UAE and Australia during the six months ended September 30, 2025, Fiscals 2025, 2024 and 2023, including in Latin America, Asia Pacific (excluding India), North America and other geographies.

As of September 30, 2025 the company have received 524 registrations across Formulations and Technicals for agrochemicals. The company’s research and development efforts over the years have led to being granted 102 patents, and also have 108 patent applications under process as of March 10, 2026.

The company invests in R&D to develop and improve Formulations and Technicals, with dedicated facilities in Kathwada and Odhav for testing, commercialization, and producing complex chemistries for the agrochemical market.

Business Operations:

Formulations: As of September 30, 2025, the company has 395 registrations for Formulations, composed of active ingredients and additives, available as solids or liquids, marketed under the company’s brands or licenses.
Technicals: As of September 30, 2025, the company has 129 registrations for Technicals, which are concentrated active ingredients processed with other ingredients to create products like insecticides, herbicides, and fungicides.

As of September 30, 2025, the company has 1,221 permanent employees.

Competitive Strengths:

Well-diversified product portfolio including a wide range of insecticides, herbicides, fungicides, and plant growth regulators, making us a comprehensive solution provider for the customers.
Catering to a large and diverse clientele both domestically as well as internationally.
Strong in-house R&D capabilities with focus on innovation and product development
Robust manufacturing facilities with ability to manufacture a wide range of products with a focus on sustainability.
Led by qualified and experienced Promoters and supported by a professional management team

Company Financials (Restated Consolidated)

Period Ended	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	1,491.69	1,228.50	980.34	1,132.13
Total Income	847.61	1,301.06	1,158.23	1,206.05
Profit After Tax	81.07	81.42	55.54	17.57
EBITDA	138.86	164.03	130.41	81.28
NET Worth	529.85	450.03	370.46	363.47
Reserves and Surplus	490.84	411.02	344.46	336.00
Total Borrowing	321.13	295.60	235.44	324.26
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects

Est Amt (₹ Cr.)
1) Repayment or pre-repayment of all or a portion of certain outstanding borrowings availed by the Company

170.00
2) General Corporate Purpose

50.32
Total

220.32

Key Performance Indicator (KPI)

KPI	Sep 30, 2025	Mar 31, 2025
ROE	15.62%	18.38%
ROCE	15.45%	19.80%
Debt/Equity	0.55	0.58
PAT Margin	9.56%	6.26%
EBITDA Margin	16.45%	12.74%
Price to Book Value		2.77

Check IPO Peer Comparison here

	Pre IPO	Post IPO
EPS (₹)	20.87	21.22
P/E (x)	15.34	9.18
Promoter Holding	98.32%	71.72%
Market Cap	₹1,488.60 Cr.

Bhavesh Vrajmohan Shah, Tirth Kenal Shah, Vilasben Vrajmohan Shah, Falguni Kenal Shah, Alpha trust and Kappa Trust are the promoters of the company.

The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.

IPO Review

[Dilip Davda]

GCSL is a research-driven agrochemical company having vast portfolio of Formulations and Technicals. Following eased prices in FY24, though its top line shows decline, the volume was higher. H1-FY26 margins may get diluted in the second half, as the company has average performance for the said periods historically. The company is operating in a highly competitive and fragmented segment. Based on its recent financial data, the issue appears fully priced. Well-informed investors can park funds for medium to long term.

Read detail review…

GSP Crop Science IPO Recommendations

Review By	Subscribe	May Apply	Neutral	Avoid
Brokers	5	0	2	1
Members	0	1	0	0

IPO Subscription Status

The GSP Crop Science IPO is subscribed 1.64 times on March 18, 2026 6:54:37 PM (Day 3). The public issue subscribed 0.42 times in the retail category, 2.66 times in the QIB category, and 3.14 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category	Subscription (x)	Shares Offered	Shares bid for
QIB (Ex Anchor)	2.66	25,00,000	66,46,356
NII	3.14	18,75,000	58,89,840
bNII (> ₹10L)	4.11	12,50,000	51,40,224
sNII (< ₹10L)	1.20	6,25,000	7,49,616
Retail	0.42	43,75,000	18,25,648
Total	1.64	87,50,000	1,43,61,844

Total Applications: 34,978

IPO Expenses

# Issue Expenses

Est Amt (₹ Cr.)
1 BRLMs' fees and commissions

13.95
2 Commissions, processing fees, brokerage, underwriting and selling commission, and bidding charges payable to intermediaries including SCSBs, Sponsor Banks, Bankers to the Offer, Syndicate Members, Registered Brokers, RTAs and CDPs (including RBI bid fees)

1.07
3 (i) Listing fees, SEBI filing fees, upload fees, Stock Exchanges processing fees, book building software fees and other regulatory expenses

1.71
4 (ii) Printing and stationery expenses

0.42
5 (iii) Advertising and marketing expenses

2.15
6 (iv) Fees payable to legal counsel

4.24
7 (v) Fees payable to other intermediaries, such as auditors, ICA, ICE, practising company secretary, third-party research agency, experts, etc; and

4.09
8 (vi) Miscellaneous

5.18
Total

32.81

Listing Day Trading Information

Price Details	BSE	NSE
Final Issue Price	₹320.00	₹320.00
Open	₹332.30	₹328.00
Low	₹327.35	₹328.00
High	₹363.60	₹364.00
Last Trade	₹356.10	₹356.25

Check IPO Performance…

IPO Lead Manager(s)

Equirus Capital Pvt.Ltd. (Past IPO Performance)
Motilal Oswal Investment Advisors Ltd. (Past IPO Performance)

Lead Manager Reports

Lead Manager Performance Summary
Lead Manager Performance Tracker

IPO Registrar

MUFG Intime India Pvt.Ltd.

+91-22-4918 6270
gspcrop.ipo@linkintime.co.in
Visit Website

Contact Details

GSP Crop Science Ltd. Address

404, Lalita Complex, Rasala Road,

Mithakhali Six Road,

Navrangpura,

Ahmedabad, Gujarat, 380009

+91 79 61915165
cs@gspcrop.com
Visit Website

IPO FAQs

What is the GSP Crop Science IPO?

GSP Crop Science IPO is a main-board IPO of 1,25,00,000 equity shares of the face value of ₹10 aggregating up to ₹400 Crores. The issue is priced at ₹320 per share. The minimum order quantity is 46.

The IPO opens on Mon, Mar 16, 2026, and closes on Wed, Mar 18, 2026.

MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

How to apply in GSP Crop Science IPO through Angel One?

Angel One customers can apply online in GSP Crop Science IPO using UPI as a payment gateway. Angel One customers can apply in GSP Crop Science IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in GSP Crop Science IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘GSP Crop Science IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Angel One IPO Application Process Review for more detail.

When GSP Crop Science IPO will open?

The GSP Crop Science IPO opens on Mon, Mar 16, 2026 and closes on Wed, Mar 18, 2026.

What is the lot size of GSP Crop Science IPO?

GSP Crop Science IPO lot size is 46, and the minimum amount required for application is ₹14,720.

How to apply for GSP Crop Science IPO?

You can apply in GSP Crop Science IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

When is GSP Crop Science IPO allotment?

The finalization of Basis of Allotment for GSP Crop Science IPO will be done on Friday, March 20, 2026, and the allotted shares will be credited to your demat account by Mon, Mar 23, 2026. Check the GSP Crop Science IPO allotment status.

When is GSP Crop Science IPO listing date ?

The GSP Crop Science IPO listing date is on Tue, Mar 24, 2026.