Update: GSP Crop Science IPO Sees 96% Subscription on Third Day
GSP Crop Science IPO Update
IPO Details
The initial public offering (IPO) for GSP Crop Science has entered its third and final day of bidding on Friday, March 18. The company's IPO, which opened on Monday, March 16, has a price band of ₹304-320 per share, with a total offer size of ₹400 crore.
Subscription Status
As of March 17, the ₹400 crore offer was booked at 96%, driven by strong demand from Non-Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs). In contrast, the retail portion was booked at just 20%.
Offer Structure
The offering includes a fresh issue of shares worth ₹240 crore and an Offer for Sale (OFS) of 50 lakh equity shares worth ₹160 crore by promoters. The proceeds from the fresh issue will be used to repay debt (₹170 crore) and for general corporate purposes.
GMP and Listing
The current GMP (Grey Market Premium) for GSP Crop Science remains at nil, indicating that the shares could list at par with the upper end of the price band.
Investor Takeaway
Investors should be aware of the strong demand for GSP Crop Science IPO, which may lead to a successful listing.
More in IPO
SpaceX IPO Reaches Record $75 Billion, Musk's Ambitious Listing Breaks Ground in the Financial Market
SpaceX Seeks Record $75 Billion IPO, Potentially Positioning Elon Musk as the World's First Trillionaire
SMR Jewels IPO Successfully Lists with Institutional Support
