Tipco Engineering India Limited IPO Opens on March 23, 2026
17 Mar 2026
The initial public offering (IPO) of GSP Crop Science Ltd has opened for subscription and will remain open for three days. Investors are now looking at key details such as subscription numbers, grey market premium (GMP), and company profile to decide whether to apply.
GSP Crop Science IPO is a book-built issue of Rs 400.00 crore. It includes a fresh issue of 75 lakh shares worth Rs 240.00 crore and an offer for sale of 50 lakh shares worth Rs 160.00 crore.
The IPO opened on March 16, 2026 and will close on March 18, 2026. The allotment is expected to be finalised on March 20, 2026. The company’s shares are likely to be listed on both BSE and NSE on March 24, 2026.
The price band for the IPO has been set at Rs 304 to Rs 320 per share. The lot size is 46 shares.
For retail investors, the minimum investment is one lot of 46 shares. At the upper price band of Rs 320, this translates to an investment of Rs 14,720.
For non-institutional investors, the minimum investment is higher. The sNII category requires 14 lots or 644 shares, which comes to Rs 2,06,080. The bNII category requires 68 lots or 3,128 shares, amounting to Rs 10,00,960.
Equirus Capital Pvt Ltd is the book running lead manager for the issue, while MUFG Intime India Pvt Ltd is the registrar.
SUBSCRIPTION STATUS SO FAR
As of March 17, 2026 (Day 2, around 12:44 pm), the IPO has been subscribed 0.67 times overall.
The retail category has seen weak interest so far, with subscription at just 0.16 times. The QIB (excluding anchor investors) portion has been subscribed 1.28 times, while the NII category has been subscribed 1.04 times.
The data shows that institutional investors are showing relatively better interest compared to retail investors at this stage.
GMP SIGNALS FLAT LISTING
The grey market premium (GMP) for GSP Crop Science IPO currently stands at Rs 0 as of March 17, 2026.
Based on the upper price band of Rs 320 and the current GMP, the estimated listing price is also around Rs 320. This suggests no expected gain or loss on listing, with an estimated return of 0.00%.
A flat GMP often indicates that there is no strong listing demand in the unofficial market at present.
COMPANY PROFILE
GSP Crop Science Limited was incorporated in 1985 and operates in the agrochemical sector.
The company manufactures insecticides, herbicides, fungicides and plant growth regulators. It provides crop protection solutions aimed at helping farmers improve productivity.
Its business includes both formulations and technicals. Formulations are ready-to-use products that include active ingredients and additives, while technicals are concentrated active ingredients used to make these products.
The company has a wide range of in-house products and focuses on developing, manufacturing, supplying and distributing agrochemical solutions to meet customer needs.
SHOULD YOU SUBSCRIBE?
The IPO presents a mixed picture at the moment. While institutional investors have shown some interest, retail participation remains low so far.
At the same time, the GMP is flat, which indicates that the market is not expecting strong listing gains at this stage.
Investors may choose to track subscription trends on the final day and look at long-term business prospects before taking a decision. The company operates in an important sector, but near-term listing gains do not appear strong based on current signals.
Overall, the decision to subscribe may depend on an investor’s risk appetite and investment horizon, as the current data does not point to immediate listing gains.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
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