GSP Crop Science IPO: GMP Indicates Muted Prospects; Check Day 3 Subscription Status, Other Key Details

Investors have fully subscribed to the initial public offering (IPO) of GSP Crop Science as it entered the final day of bidding in the primary market. The subscription window of the public issue opened on March 16 and will close on March 18. However, the grey market premium (GMP) continued to indicate no gains at listing on the stock exchanges.

GSP Crop Science IPO: Offer Size

GSP Crop Science’s IPO of Rs. 400 crore includes a combination of fresh issue of 7.50 million equity shares and five million shares on offer-for-sale (OFS). The price band of the issue is at Rs 304-320 apiece and the minimum lot size is 46 shares. Retail individual investors have to invest at least Rs 14,720 in order to apply in the issue.

For the issue, Equirus Capital is the book running lead manager, and MUFG Intime India is the registrar. Allotment of the shares is expected to be finalised on March 20. The stocks will tentatively list on both the NSE and the BSE on March 24.

GSP Crop Science IPO: Subscription Status

On the third day of the issue window so far, investors have subscribed 1.01 times the shares offered by GSP Crop Science in the primary issue, applying for 9.03 million shares. Non-institutional investors (NIIs) have shown most interest in the issue so far, booking 2.40 times their reserved quota, or applying for around 4.70 million shares so far. Qualified institutional buyers (QIBs) have also fully booked their quota, applying for 3.20 million shares, or booking nearly 1.30 times their quota.

Meanwhile, retail individual investors have only booked a quarter of the shares reserved for them so far. They have subscribed for 1.13 million shares so far.

GSP Crop Science IPO: GMP Today

The GMP of GSP Crop Science has not changed and has remained at nil. The expected listing price at the debut of the stock is Rs. 320 per share, same as the upper end of the price band of the issue. As such, no gains or losses for investors is indicated at the time of listing of the stock on the exchanges.

GSP Crop Science IPO: Key Financials

GSP Crop Science’s net profit stood at Rs 81.07 crore on a total income of Rs 847.61 crore, by the end of first six months of financial year 2025-26. The company’s net profit rose to Rs 81.42 crore in FY25, from Rs 55.54 crore in the previous year. The total income of the company was reported at Rs 1,301.06 crore in FY25, up from Rs 1,158.23 crore in FY24.

GSP Crop Science IPO: Objective

The company plans to use the net proceeds to the tune of Rs. 170 crore from the fresh issue in repayment and prepayment of its debt, according to its red herring prospectus (RHP). The remainder of the net proceeds from the fresh issue will be used for general corporate purposes.