GSP Crop Science IPO is a bookbuilt issue of Rs 400.00 crore. It combines a fresh issue of 0.75 crore shares aggregating to ₹240.00 crore and an offer for sale of 0.50 crore shares aggregating to ₹160.00 crore.
The IPO opens for subscription on March 16, 2026, and closes on March 18, 2026. The allotment is expected to be finalized on Friday, March 20, 2026. The price band for the IPO is set at ₹304 to ₹320 per share, and the minimum lot size for an application is 46 shares.
Company Summary
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 has 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 has 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 it also has 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.
As of September 30, 2025, the company has 1,221 permanent employees.
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.
Company 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 and internationally.
- Strong in-house R&D capabilities with a focus on innovation and product development
- Robust manufacturing facilities with the 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
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,491.69 | 1,228.5 | 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 |
| Total Borrowing | 321.13 | 295.6 | 235.44 | 324.26 |
| Amount in ₹ Crore | ||||
Objectives of IPO
- Repayment or pre-repayment of all or a portion of certain outstanding borrowings availed by the Company
- General Corporate Purpose
Promoters of the company
Bhavesh Vrajmohan Shah, Tirth Kenal Shah, Vilasben Vrajmohan Shah, Falguni Kenal Shah, Alpha trust and Kappa Trust are the promoters of the company.
IPO Details
| IPO Date | March 16, 2026 to March 18, 2026 |
| Listing Date | March 24, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹304 to ₹320 per share |
| Lot size | 46 shares |
| Total Issue size | 1,25,00,000 shares (aggregating upto ₹400.00 Cr ) |
| Fresh Issue | 75,00,000 shares (aggregating upto ₹240.00 Cr ) |
| Offer for Sale | 50,00,000 shares of ₹10 (aggregating upto ₹160.00 Cr ) |
| Issue type | Bookbuilding IPO |
| Listing at | NSE, BSE |
| Share Holding Pre Issue | 3,90,18,750 shares |
| Share Holding Post Issue | 4,65,18,750 shares |
Lot Allocation Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 46 | ₹14,720.00 |
| Retail (Max) | 13 | 598 | ₹1,91,360.00 |
| S-HNI (Min) | 14 | 644 | ₹2,06,080.00 |
| S-HNI (Max) | 67 | 3,082 | ₹9,86,240.00 |
| B-HNI (Min) | 68 | 3,128 | ₹10,00,960.00 |
Attlotment Schedule
| Basis of Allotment | Fri, 20 Mar, 2026 |
| Initiation of Refunds | Mon, 23 Mar, 2026 |
| Credit of Shares to Demat | Mon, 23 Mar, 2026 |
| Tentative Listing Date | Tue, 24 Mar, 2026 |
IPO Reservation
Investor Category | Shares Offered |
QIB Shares Offered | Not more than 50% of the Net Offer |
Retail Shares Offered | Not less than 35% of the Net Offer |
NII Shares Offered | Not less than 15% of the Net Offer |
Source – SEBI, Chittorgarh
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