GSP Crop Science IPO Fully Subscribed on Final Day of Bidding, QIB and Non-Institutional Investors Lead the Charge

GSP Crop Science IPO Fully Subscribed on Final Day of Bidding

GSP Crop Science, an Ahmedabad-based agrochemical company, witnessed strong demand from Qualified Institutional Buyers (QIBs) and Non Institutional Investors (NIIs) for its initial public offer (IPO), which received a 1.01 times subscription on the final day of bidding.

Key Highlights:

• The IPO received bids for 90.41-lakh shares against 89.47-lakh shares on offer.
• The non-institutional investors category fetched a 2.43 times subscription, while QIBs received a 1.28 times subscription.
• Retail Individual Investors (RIIs) quota got subscribed 24 percent.
• The IPO garnered Rs 120 crore from anchor investors earlier.

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IPO Details:

• The price band of the IPO has been fixed at Rs 304-320 per share, valuing the company at Rs 1,489 crore at the higher end.
• The proceeds from the fresh issue, totalling Rs 170 crore, will be used for debt payment and general corporate purposes.

Company Overview:

• GSP Crop Science is a research-focused agrochemical company with over 39 years of expertise in developing and manufacturing insecticides, herbicides, fungicides, and plant growth regulators in India.

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