GSP Crop Science Shares Make Strong Market Debut at 4% Premium

GSP Crop Science Lists Shares at a Premium

On Tuesday, GSP Crop Science's shares were listed on the exchanges at a premium, following a 1.61 times subscription to its issue between March 16-18 in the primary market.

Key Listing Details:

• Listed on the National Stock Exchange (NSE) at Rs 328 per share, a premium of 2.5% compared to the issue price band of Rs 304-320 per share.
• Listed on the BSE at Rs 332.30, up 3.84%.
• Market capitalization post listing stood at Rs 1,545.82 crore.

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The company's market debut was better than the expectations in the grey market, which had anticipated a muted listing. GSP Crop Science, an Ahmedabad-based research-focused agrochemical company, had garnered Rs 120 crore from anchor investors before the fresh issue.

Issue Details:

• The Rs 400-crore issue will be used for debt payment and general corporate purposes, with a portion totalling Rs 170 crore allocated for fresh issue proceeds.

With over 39 years of expertise in developing and manufacturing insecticides, herbicides, fungicides, and plant growth regulators in India, GSP Crop Science is a leading player in the agrochemical industry.

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