- Issue price
- ₹320per share
- Issue size
- ₹400 Cr1,25,00,000 shares
- Face value
- ₹10per equity share
- Lot size
- 46 sharesMin. ₹14,720 at the upper price
- Anchor biddingFri, 2026
- OpensMon, 2026
- ClosesWed, 2026
- AllotmentFri, 2026
- ListingTue, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 75,00,000 shares (₹240 Cr)
- Offer for sale
- 50,00,000 shares (₹160 Cr)
- Total issue
- 1,25,00,000 shares (₹400 Cr)
- Face value
- ₹10
- Listing at
- NSE, BSE
- Promoter holding
- 98.30% → 71.72%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail35.0%
- Anchor30.0%
- QIB ex-anchor20.0%
- NII15.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 43,75,000 | 35.00% | 35% |
| Non-institutional investors (NII) | 18,75,000 | 15.00% | 15% |
| Qualified institutional buyers (QIB) | 62,50,000 | 50.00% | 50% |
| QIB, excluding anchor | 25,00,000 | 20.00% | — |
| Anchor investors | 37,50,000 | 30.00% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹320 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 46 | ₹14,720 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25, pre-issue- EPS (basic)
- ₹21.2
- RoNW
- 18.38%
- NAV per share (Sep 30, 2025)
- ₹135.8
- NAV per share (At Offer Price (after Offer))
- ₹96.74
- P/E (FY 2024-25 at cap price)
- 14.97×
- EBITDA margin
- 12.74%
- PAT margin
- 6.26%
- Debt to equity (FY 2024-25 (net debt to equity))
- 0.58×
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Sep 20256 months | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|---|
| Revenue from operations | 844.29 | 1,287.39 | 1,152.16 | 1,203.31 |
| Total income | 847.61 | 1,301.06 | 1,158.23 | 1,206.05 |
| EBITDA | 138.86 | 164.03 | 130.41 | 81.28 |
| Profit after tax | 81.07 | 81.42 | 55.54 | 17.57 |
| Net worth | 529.85 | 450.03 | 370.46 | 363.47 |
| Total assets | 1,491.69 | 1,228.50 | 980.34 | 1,132.13 |
| Total borrowing | 321.13 | 295.60 | 235.44 | 324.26 |
FY 2024-25 vs FY 2023-24: revenue +11.7%, profit after tax +46.6%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
The company is a research-driven agrochemical maker that develops and manufactures insecticides, herbicides, fungicides and plant growth regulators in India. It sells formulations and technicals through domestic B-to-B and B-to-C channels and to customers in several overseas countries. It operates five manufacturing facilities in Gujarat, Jammu & Kashmir and Dahej.
- Incorporated
- 1985
- Industry
- Agrochemicals
- CIN
- U24120GJ1985PLC007641
- Website
- gspcrop.in
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Kappa Trust | Promoter | 26.71% | 19.18% | 15,00,000 |
| Bhavesh Vrajmohan Shah | Promoter | 24.44% | 17.27% | 15,00,000 |
| Vilasben Vrajmohan Shah | Promoter | 21.82% | 14.00% | 20,00,000 |
| Alpha Trust | Promoter | 12.44% | 10.44% | 0 |
| Tirth Kenal Shah | Promoter | 5.14% | 4.31% | 0 |
| Falguni Kenal Shah | Promoter | 0.00% | 0.00% | 0 |
| Stamford Trust | Promoter group | 5.12% | 4.30% | 0 |
| Beta Trust | Promoter group | 2.15% | 1.81% | 0 |
| Athena Trust | Promoter group | 0.19% | 0.16% | 0 |
| Shard Trust | Promoter group | 0.19% | 0.16% | 0 |
| Nikhil C Shah | Promoter group | 0.06% | 0.05% | 0 |
| Riddhi Shah | Promoter group | 0.04% | 0.04% | 0 |
| Monakhos Trust | Promoter group | 0.00% | 0.00% | 0 |
| Pujan Shah | Promoter group | 0.00% | 0.00% | 0 |
| Deepa Bhavesh Shah | Promoter group | 0.00% | 0.00% | 0 |
| Vihangi Shah | Promoter group | 0.00% | 0.00% | 0 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Repayment or pre-repayment of certain outstanding borrowings of the company | 170.00 |
| General corporate purposes | 50.32 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| GSP Crop Science LimitedIssuer | ₹21.2 | — | 18.38% | ₹115.34 |
| PI Industries Limited | ₹109.44 | 28.25× | 16.35% | ₹669.47 |
| Sumitomo Chemical India Limited | ₹10.13 | 39.23× | 17.42% | ₹58.12 |
| Dhanuka Agritech Limited | ₹65.55 | 15.13× | 21.18% | ₹311.17 |
| Rallis India Limited | ₹6.43 | 40.12× | 6.61% | ₹97.92 |
| Bharat Rasayan Limited | ₹339.14 | 4.14× | 12.47% | ₹2,719.44 |
| India Pesticides Limited | ₹7.14 | 21.57× | 9.15% | ₹78.01 |
| Excel Industries Limited | ₹67.87 | 13.13× | 5.37% | ₹1,263.83 |
| Heranba Industries Limited | ₹0.77 | 252.92× | 0.37% | ₹210.13 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Over 40 years of experience in the agrochemical industry.
- Holds 524 product registrations across formulations and technicals as of September 30, 2025.
- Has been granted 102 patents, with 108 applications pending.
- Sells to customers in 37 countries, alongside a large domestic business.
- Operates five manufacturing facilities with effluent treatment capacity.
Risks
- Business depends on continued registrations and renewals from the CIBRC and other regulators.
- Pending misbranding cases and customer product-quality litigation could harm reputation.
- A contingent liability of ₹355.31 million relates to a terminal excise duty show cause notice under legal challenge.
- Significant outstanding borrowings and large working capital requirements.
- Three promoters and promoter trusts are also selling shares in the Offer for Sale.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹320) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the GSP Crop Science IPO open and close?
According to the Prospectus, the issue opens on Monday, 16 March 2026 and closes on Wednesday, 18 March 2026.
What is the GSP Crop Science IPO price band?
The final issue price is ₹320 per share.
What is the lot size of the GSP Crop Science IPO?
One lot is 46 shares, which is ₹14,720 at ₹320 per share.
Where will GSP Crop Science shares list?
On NSE and BSE. The tentative listing date is Tuesday, 24 March 2026.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the GSP Crop Science IPO allotment status?
The basis of allotment is expected to be finalised on Friday, 20 March 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹170 Cr for repayment or pre-repayment of certain outstanding borrowings of the company, ₹50.32 Cr for general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.