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3 days ago
GSP Crop Science raises ₹120 crore from anchor investors ahead of IPO
Summary
Upcoming IPOs: GSP Crop Science Limited, a research-driven agrochemical company specializing in the development and manufacturing of insecticides, herbicides, fungicides, and plant growth regulators in India, has garnered ₹120 crore from anchor investors ahead of its initial public offering (IPO).
The company informed the bourses that it allocated 37,50,000 equity shares at ₹320 per share to anchor investors. Some of the marquee institutions that participated in the anchor round include Shine Star Build Cap Pvt Ltd, Craft Emerging Market Fund PCC - Citadel Capital Fund, and Craft Emerging Market Fund PCC - Elite Capital Fund.
Equirus Capital Private Limited and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the offer.
The initial public offering (IPO) of GSP Crop Science will open for bidding on Monday, March 16, and will remain open until Wednesday, March 18, 2026, offering shares in the price band of ₹304– ₹320 per share.
The IPO is a mix of a fresh share sale of ₹240 crore and an offer for sale (OFS) of ₹160 crore, resulting in a total issue size of ₹400 crore. Vilasben Vrajmohan Shah, Bhavesh Vrajmohan Shah, and Kappa Trust are the promoter selling shareholders.
The offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers (QIBs), while not more than 15% and 35% of the net offer are reserved for non-institutional investors (NIIs) and retail individual investors, respectively.
Investors can apply for the GSP Crop Science IPO in lots of 46 shares. A retail investor would need to invest ₹14,720 to apply for one lot, based on the upper price band of the issue.
The company plans to use the proceeds from the fresh share sale to the tune of ₹170 crore for the repayment or prepayment of all or a portion of certain outstanding borrowings. The remaining portion will be used for general corporate purposes.
The allotment status for the GSP Crop Science IPO is slated to be finalised on March 20, with the tentative listing date set for March 24.
GSP Crop Science specialises in the development and manufacturing of insecticides, herbicides, fungicides, and plant growth regulators in India and has over 40 years of experience in the agrochemical industry.
In addition to the domestic market, GSP products are also supplied to more than 35 international markets, including Uruguay, the United States, Vietnam, Brazil, Singapore, Bangladesh, the United Arab Emirates, Taiwan, Australia, and Sri Lanka
On the financial front, the company’s revenue from operations stood at ₹1,152.16 crore in fiscal 2024, compared with ₹1,203.31 crore in the preceding fiscal year. Profit after tax (PAT) surged to ₹61.29 crore in fiscal 2024 from ₹21.55 crore in fiscal 2023.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial m...Read More
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The company informed the bourses that it allocated 37,50,000 equity shares at ₹320 per share to anchor investors. Some of the marquee institutions that participated in the anchor round include Shine Star Build Cap Pvt Ltd, Craft Emerging Market Fund PCC - Citadel Capital Fund, and Craft Emerging Market Fund PCC - Elite Capital Fund.
Equirus Capital Private Limited and Motilal Oswal Investment Advisors Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the offer.
The initial public offering (IPO) of GSP Crop Science will open for bidding on Monday, March 16, and will remain open until Wednesday, March 18, 2026, offering shares in the price band of ₹304– ₹320 per share.
The IPO is a mix of a fresh share sale of ₹240 crore and an offer for sale (OFS) of ₹160 crore, resulting in a total issue size of ₹400 crore. Vilasben Vrajmohan Shah, Bhavesh Vrajmohan Shah, and Kappa Trust are the promoter selling shareholders.
The offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers (QIBs), while not more than 15% and 35% of the net offer are reserved for non-institutional investors (NIIs) and retail individual investors, respectively.
Investors can apply for the GSP Crop Science IPO in lots of 46 shares. A retail investor would need to invest ₹14,720 to apply for one lot, based on the upper price band of the issue.
The company plans to use the proceeds from the fresh share sale to the tune of ₹170 crore for the repayment or prepayment of all or a portion of certain outstanding borrowings. The remaining portion will be used for general corporate purposes.
The allotment status for the GSP Crop Science IPO is slated to be finalised on March 20, with the tentative listing date set for March 24.
GSP Crop Science specialises in the development and manufacturing of insecticides, herbicides, fungicides, and plant growth regulators in India and has over 40 years of experience in the agrochemical industry.
In addition to the domestic market, GSP products are also supplied to more than 35 international markets, including Uruguay, the United States, Vietnam, Brazil, Singapore, Bangladesh, the United Arab Emirates, Taiwan, Australia, and Sri Lanka
On the financial front, the company’s revenue from operations stood at ₹1,152.16 crore in fiscal 2024, compared with ₹1,203.31 crore in the preceding fiscal year. Profit after tax (PAT) surged to ₹61.29 crore in fiscal 2024 from ₹21.55 crore in fiscal 2023.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial m...Read More
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Download the Mint app and read premium stories
AI Description
GSP Crop Science Limited, a key player in the agrochemical sector, has successfully raised funds from anchor investors ahead of its IPO. This move is significant for the company's growth and expansion in the agricultural industry.