Potential Impact of US-Iran Tensions on GSP Crop Science IPO Listing

GSP Crop Science IPO

Initial Public Offering (IPO) Details

• ₹400 crore total issue size
• ₹240 crore fresh issue of 0.75 crore shares
• ₹160 crore Offer for Sale (OFS) of 0.50 crore shares
• ₹304-320 per share price band
• ₹1,489 crore valuation at the upper end of the price band

IPO Subscription and Allocation

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• The IPO was fully subscribed on the final day of bidding
• 1.64 times subscribed by end of Day 3
• 0.42 times retail portion subscribed
• 3.14 times Non-Institutional Investors (NII) portion subscribed
• 2.66 times Qualified Institutional Buyers (QIBs) portion subscribed
• 1.43 crore shares received bids against 87.50 lakh shares on offer

GMP and Listing Price

• ₹2 grey market premium (GMP) on March 23
• ₹322 expected listing price, up 0.62% from issue price

Company Utilization of Proceeds

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• ₹170 crore for repayment or pre-repayment of outstanding borrowings
• Remaining funds for general corporate purposes

Timeline

• Friday, March 20: Preliminary basis of allotment for IPO shares to be finalised
• Monday, March 23: Refunds initiated and shares credited to demat accounts of successful bidders
• Tuesday, March 24: Listing of shares on BSE and NSE

IPO Management

• Equirus Capital Pvt. Ltd. as book running lead manager
• MUFG Intime India Pvt. Ltd. as registrar to the issue

About GSP Crop Science

• Incorporated in 1985
• Agrochemical company engaged in manufacturing of insecticides, herbicides, fungicides, and plant growth regulators
• Focuses on providing crop protection solutions aimed at improving agricultural productivity
• Diversified portfolio of in-house manufactured agrochemicals