GSP Crop Science IPO Update

Key Highlights

• ₹400 crore sought through initial public offering (IPO) to be raised over a three-day period, closing on March 18
• ₹120 crore raised from anchor investors prior to the IPO, with 37.50 lakh equity shares allocated at ₹320 per share
• ₹1,489 crore valuation at upper end of the IPO price band (₹304-₹320 per share)

IPO Details

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• ₹240 crore fresh issue of shares and ₹160 crore Offer for Sale (OFS) of equity shares by promoters, aggregating to ₹400 crore
• Proceeds from the fresh issue to be used for debt repayment (₹170 crore) and general corporate purposes

Company Overview

• GSP Crop Science Ltd, an Ahmedabad-based research-focused agrochemical company with over 39 years of experience
• Provides crop protection solutions for farmers, including formulations and technicals for insecticides, herbicides, fungicides, and plant growth regulators
• As of September 30, 2024, secured 507 registrations across formulations and technicals for its manufactured agrochemicals

Financial Performance

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• Revenue from operations: ₹1,152.16 crore in FY24, compared to ₹1,203.31 crore in the previous fiscal
• Profit after tax: ₹61.29 crore in FY24, up from ₹21.55 crore in FY23

IPO Allocation

• 50% reserved for qualified institutional buyers
• 35% reserved for retail investors
• 15% reserved for non-institutional investors

Grey Market Premium (GMP)

• ₹0, indicating lack of investor interest in the unofficial market