GSP Crop Science IPO subscribed 20% on Day 1 so far, QIBs bid 60% - Check GMP

GSP Crop Science IPO details.

• GSP Crop Science IPO subscribed 20 percent on first day, so far.
• QIBs subscribed 58 percent, retail investors 6 percent.
• IPO price band set at Rs 304-320 per share.

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GSP Crop Science initial public offer (IPO) got subscribed 20 percent on the first day of its share sale on Monday, so far. The agrochemical Company received bids for 17.87-lakh shares against 89.47-lakh shares on offer, according to the NSE data till 2 pm.

Qualified Institutional Buyers(QIBs) subscribed 58 percent, while Non Institutional Investors (NIIs) bid 3 percent. Retail Individual Investors(RIIs) subscribed 6 percent, so far.

Earlier, the Ahmedabad-based company garnered Rs 120 crore from anchor investors before the opening of its initial public offering (IPO) next week.

GSP Crop Science IPO GMP Today Price

According to platforms tracking the grey market activities, the shares of GSP Crop Science are commanding a flat GMP in the unofficial market.

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The price band has been fixed at Rs 304-320 per share for the IPO, valuing the company at Rs 1,489 crore at the higher end.

Proceeds from the fresh issue, totalling Rs 170 crore, will be used for debt payment, and a portion will be utilised for general corporate purposes.

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.

It provides crop protection solutions that help farmers maximise productivity and agricultural output by producing formulations-- precisely composed products combining active ingredients (chemicals targeting pests, weeds, or diseases) and additives (enhancing performance, stability, and usability) and Technicals, which are concentrated active ingredients used to create formulations.

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