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18 Mar 2026
The IPO of agrochemical maker GSP Crop Science attracted strong investor interest on the final day of bidding, with the initial public offering fully subscribed by midday ahead of closing later in the day.
Subscription status
The ₹400 crore public issue was subscribed 1.06 times as of 12.54 pm, led by healthy participation from institutional and high-net-worth investors. The qualified institutional buyers’ portion was booked 1.28 times, while the non-institutional investor segment saw robust demand with 2.56 times subscription. Retail participation remained subdued, with the segment subscribed 0.29 times so far.
On day two, the IPO fetched an overall subscription of 96 per cent.
IPO, use of funds and listing date
GSP Crop Science had launched its maiden public issue on March 16, 2026, with the offer scheduled to close today, March 18. The IPO price band has been fixed at ₹304–320 per share, valuing the Ahmedabad-based company at about ₹1,489 crore at the upper end of the band.
The public issue comprises a fresh issue of equity shares worth ₹240 crore and an offer for sale of 50 lakh shares aggregating to ₹160 crore at the upper end of the price band by promoters, taking the total issue size to ₹400 crore.
Of the proceeds from the fresh issue, ₹170 crore will be used for debt repayment, while the remaining funds will be allocated for general corporate purposes.
Ahead of the public offer, the company opened its anchor investor portion on March 13. The equity shares are scheduled to list on the stock exchanges on March 24, with market participants expecting a stable debut supported by institutional demand trends.
GSP Crop Science is a research-driven agrochemical company with more than three decades of experience in developing and manufacturing insecticides, herbicides, fungicides and plant growth regulators for domestic and international markets.
Published on March 18, 2026
