GSP Crop Science IPO
Open MainLineCurrent GMP
₹0 (0.00%)
Price Band
₹ 304 – 320
Lot Size
46
Issue Size
₹400 Cr
Minimum Investment
₹14720 (46 Shares)
Listing Date
24 March 2026
Subscription
1.61x
About the Company
Incorporated in 1985, GSP Crop Science Limited is an agrochemical company engaged in the manufacturing and supply of insecticides, herbicides, fungicides, and plant growth regulators. The company focuses on providing crop protection solutions that help farmers increase agricultural productivity and improve crop health.
The company develops, manufactures, and distributes Formulations and Technicals, which are used for the effective control of pests, weeds, and plant diseases. Its product offerings include both active ingredients and specialized additives designed to enhance crop protection.
GSP Crop Science has built strong and long-term relationships with domestic and international B2B customers, including several major agrochemical companies. This diversified customer base supports the company’s stable operations and resilience in changing market conditions.
As of September 30, 2024, the company has received 507 product registrations for its agrochemical portfolio and holds 89 patents. For the six months ended September 30, 2024, revenue generated from patented products amounted to ₹1,441.11 million, accounting for 20.73% of total revenue.
The company continuously invests in research and development (R&D) to develop new products and improve existing formulations and technicals. It operates dedicated R&D facilities in Kathwada and Odhav, which focus on product testing, commercialization, and the development of complex chemistries for the agrochemical industry.
Business Operations
1. Formulations
Formulations are finished agrochemical products composed of active ingredients combined with additives, designed for direct use in agriculture. These products are available in solid and liquid forms and are marketed under the company’s own brands or through licensed arrangements.
As of September 30, 2024, the company holds 387 registrations for formulations.
2. Technicals
Technicals are high-concentration active ingredients that serve as the base for producing various agrochemical products such as insecticides, herbicides, and fungicides. These technical materials are processed and combined with other ingredients to manufacture finished formulations.
As of September 30, 2024, the company holds 120 registrations for technical products.
Workforce
As of September 30, 2024, GSP Crop Science Limited employed 1,096 permanent employees, supporting its operations across manufacturing, research, marketing, and distribution.
Promoters
- Bhavesh Vrajmohan Shah
- Tirth Kenal Shah
- Vilasben Vrajmohan Shah
- Falguni Kenal Shah
- Alpha trust
- Kappa Trust
Promoters Holding
Holding Pre Issue
98.32%
Holding Post Issue
0.00%
Objects of the Issue
The Company GSP Crop Science IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Repayment or pre-repayment of all or a portion of certain outstanding borrowings availed by our Company
- General corporate purposes
Address / Contact Info
GSP Crop Science Ltd.
404, Lalita Complex, Rasala Road,
Mithakhali Six Road,Navrangpura,
Ahmedabad, Gujarat, 380009
Phone: +91 79 61915165
Email: cs@gspcrop.com
Website: http://www.gspcrop.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Monday, 16 March 2026
IPO Close Date
Wednesday, 18 March 2026
Basis of Allotment
Friday, 20 March 2026
Initiation of Refunds
Monday, 23 March 2026
Credit of Shares to Demat
Monday, 23 March 2026
Listing Date
Tuesday, 24 March 2026 — NSE & BSE
Important Dates
Open Date
16 March 2026
Close Date
18 March 2026
Basis Of Allotment
20 March 2026
Listing Date
24 March 2026
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1491.69 | 1228.5 | 980.34 | 1132.13 |
| Revenue | 847.61 | 1301.06 | 1158.23 | 1206.05 |
| Profit After Tax | 81.07 | 81.42 | 55.54 | 17.57 |
| Net Worth | 529.85 | 450.03 | 370.46 | 363.47 |
| Reserve & Surplus | 490.84 | 411.02 | 344.46 | 336 |
| Total Borrowings | 321.13 | 295.6 | 235.44 | 324.26 |
EPS Pre
20.87%
EPS Post
21.22%
P/E Pre
15.34
P/E (Post Issue)
9.18x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Sep 2025 | Mar 2025 | Mar 2024 | Mar 20223 |
|---|---|---|---|---|
| ROE % | 15.62 | 18.38 | 15 | 4.79 |
| ROCE % | 15.45 | 19.8 | 18.91 | 9 |
| Debt / Equity | 0.55 | 0.58 | 0.53 | 0.77 |
| RoNW % | 15 | 0 | 0 | 0 |
| PbW | 0 | 0 | 0 | 0 |
| Pat Margin % | 9.56 | 6.26 | 4.8 | 1.46 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 2499998 | 27.94 | 0 |
| Non-Institutional | 1934211 | 21.62 | 0 |
| BNII | 1289474 | 14.41 | 0 |
| SNII | 644737 | 7.21 | 0 |
| Retail Investors | 4513158 | 50.44 | 0 |
| Total | 8947367 | 100 | 0 |
Subscription Status ( Wed, 18 Mar 26 01:39 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 2499998 | 6646356 | 2.66x |
| Non-Institutional | 1934211 | 5889840 | 3.05x |
| BNII | 1289474 | 5140224 | 3.99x |
| SNII | 644737 | 749616 | 1.16x |
| Retail Investors | 4513158 | 1825648 | 0.4x |
| Total | 8947367 | 14361844 | 1.61x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| GSP Crop Science Ltd | 10 | 0.00 | 21.20 | 21.20 | 18.38 | 115.34 |
| PI Industries Ltd | 1 | 28.25 | 109.44 | 109.42 | 16.35 | 669.47 |
| Sumitomo Chemical India Ltd | 10 | 39.23 | 10.13 | 10.13 | 17.42 | 58.12 |
| Dhanuka Agritech Ltd | 2 | 15.13 | 65.55 | 65.55 | 21.18 | 311.17 |
| Rallis India Ltd | 1 | 40.12 | 6.43 | 6.43 | 6.61 | 97.92 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 46 | 14,720.00 |
| Retail (Max) | 13 | 598 | 191,360.00 |
| S-HNI (Min) | 14 | 644 | 206,080.00 |
| S-HNI (Max) | 67 | 3,082 | 986,240.00 |
| B-HNI (Min) | 68 | 3,128 | 1,000,960.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Equirus Capital Private Limited
- Motilal Oswal Investment Advisors Pvt Ltd
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
GSP Crop Science IPO is a Book-building IPO worth ₹400 crores. The price band is ₹304 to 320 per share. The IPO opens on Mon, Mar 16, 2026 and closes on Wed, Mar 18, 2026. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The GSP Crop Science IPO opens on Mon, Mar 16, 2026 and closes on Wed, Mar 18, 2026
GSP Crop Science IPO Price Band is ₹304 to 320.
GSP Crop Science IPO lot size is 46, and the minimum amount required for application is ₹14720.
The minimum investment for GSP Crop Science IPO is approximately ₹14720 based on the upper price band.
To apply for the GSP Crop Science IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Wed, Mar 18, 2026. After submission, funds are blocked until the basis of allotment of GSP Crop Science IPO is finalised.
GSP Crop Science IPO issue size is ₹400 crores.
GSP Crop Science IPO allotment date is Sat, Jun 27, 2026.
The registrar for GSP Crop Science IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to GSP Crop Science IPO through their official website or helpline.