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GSP Crop Science Ltd
MainboardListed
Open:Mon, 16 Mar 2026
Close:Wed, 18 Mar 2026
Lot Size:46 Shares
Price Band:₹ 304 - ₹ 320
Listing:NSE, BSE
Fresh Issue:240.00 Cr
OFS:160.00 Cr
Total IPO Size:400.00 Cr
QIB : 50.00%
Retail : 35.00%
Total HNI : 15.00%
EventDate
Open Date16-03-2026 , Monday
Close Date18-03-2026 , Wednesday
Tentative Allotment20-03-2026 , Friday
Tentative Listing Date24-03-2026 , Tuesday
Retail Appl. Cut Off Time18-03-2026 , Wednesday 05:00 PM
Non Retail Appl. Cut Off Time18-03-2026 , Wednesday 04:00 PM
Anchor Allotment13-03-2026 , Friday
Initiation Of Refund23-03-2026 , Monday
Credit Of Share To Demat23-03-2026 , Monday
GSP Crop Science Limited IPO

Business Overview of GSP Crop Science Limited

GSP Crop Science Limited is a research-driven agrochemical company with over 40 years of experience. The company develops and manufactures crop protection products such as insecticides, herbicides, fungicides and plant growth regulators for domestic and international markets.

Full Forms Used in This Overview

B2B

B2B means Business-to-Business. It refers to sales made to other businesses, companies, distributors or institutional customers.

B2C

B2C means Business-to-Consumer. It refers to sales made through the company’s own brands and distribution network to reach end-users such as farmers.

R&D

R&D means Research and Development. It refers to product development, process development, innovation and patent-related activities.

QC

QC means Quality Control. It refers to the department responsible for checking product quality before, during and after manufacturing.

EBITDA

EBITDA means Earnings Before Interest, Tax, Depreciation and Amortisation. It is used to understand operating profitability before finance cost, tax and depreciation impact.

PAT, ROE and ROCE

PAT means Profit After Tax. ROE means Return on Equity. ROCE means Return on Capital Employed.

Company Overview

GSP Crop Science Limited is engaged in the development and manufacturing of crop protection products. Its product portfolio includes insecticides, herbicides, fungicides and plant growth regulators.

The company provides crop protection solutions designed to support farmers in maximizing productivity and achieving better agricultural output. Its business is mainly focused on two product categories: formulations and technicals.

As of September 30, 2025, the company had received 524 registrations across formulations and technicals, including 395 registrations for formulations and 129 registrations for technicals.
IPORupee View: GSP Crop Science is not just an agrochemical trading company. It is a manufacturing and research-driven agrochemical company with registrations, patents, formulations and technical products.

Meaning of Formulations and Technicals

Formulations

Formulations are final agrochemical products made by combining active ingredients with additives in a defined proportion. They are generally sold as usable crop protection products in forms such as liquids, powders, granules and suspension-based products.

Technicals

Technicals are concentrated forms of active ingredients. These are processed further with other ingredients to manufacture formulations such as insecticides, herbicides and fungicides.

IPORupee Insight: Formulations are closer to the end-user market, while technicals are closer to the manufacturing and ingredient side of the agrochemical value chain. A company having both can benefit from product depth and manufacturing control.

Business Model

GSP Crop Science operates both domestic and international businesses. The domestic business is undertaken on both B2B and B2C basis. The B2B domestic business includes sale of technicals as well as formulations, while the B2C domestic business includes sale of formulations only.

The international business is undertaken on a B2B basis and includes sale of technicals as well as formulations.

The company conducts its B2C domestic business through its own brands such as SLR 55, Pletom, PCT-10, All Rounder, Afford, Author, Liger, Raavan, Element, Runway and Fighter.

Domestic and International Revenue Mix

Particulars Six months ended Sep 30, 2025 % of Revenue Fiscal 2025 % of Revenue Fiscal 2024 % of Revenue Fiscal 2023 % of Revenue
Domestic Business Rs. 7,635.21 million 90.43% Rs. 11,434.51 million 88.82% Rs. 10,280.12 million 89.22% Rs. 10,315.17 million 85.72%
International Business Rs. 807.70 million 9.57% Rs. 1,439.34 million 11.18% Rs. 1,241.49 million 10.78% Rs. 1,717.92 million 14.28%
Total Revenue from Continuing Operations Rs. 8,442.91 million 100.00% Rs. 12,873.85 million 100.00% Rs. 11,521.61 million 100.00% Rs. 12,033.09 million 100.00%
IPORupee Insight: The company is strongly domestic-market driven. Domestic business contributed 90.43% of revenue from continuing operations for the six months ended September 30, 2025. Export revenue is present, but the company is primarily dependent on India’s agrochemical demand.

Revenue by State in India

State Six months ended Sep 30, 2025 % of Revenue Fiscal 2025 % of Revenue Fiscal 2024 % of Revenue Fiscal 2023 % of Revenue
GujaratRs. 2,302.39 million27.27%Rs. 4,082.48 million31.71%Rs. 3,605.04 million31.29%Rs. 3,985.39 million33.12%
MaharashtraRs. 1,427.75 million16.91%Rs. 1,934.50 million15.03%Rs. 1,615.50 million14.02%Rs. 1,530.85 million12.72%
Andhra PradeshRs. 309.92 million3.67%Rs. 823.61 million6.40%Rs. 761.80 million6.61%Rs. 641.34 million5.33%
RajasthanRs. 468.98 million5.55%Rs. 642.83 million4.99%Rs. 705.66 million6.12%Rs. 515.78 million4.29%
KarnatakaRs. 334.51 million3.96%Rs. 502.76 million3.91%Rs. 319.21 million2.77%Rs. 399.40 million3.32%
Madhya PradeshRs. 355.85 million4.21%Rs. 501.10 million3.89%Rs. 404.06 million3.51%Rs. 484.54 million4.03%
Uttar PradeshRs. 369.17 million4.37%Rs. 498.23 million3.87%Rs. 550.99 million4.78%Rs. 356.71 million2.96%
HaryanaRs. 372.58 million4.41%Rs. 465.58 million3.62%Rs. 619.29 million5.38%Rs. 596.39 million4.96%
TelanganaRs. 412.68 million4.89%Rs. 451.69 million3.51%Rs. 554.11 million4.81%Rs. 494.85 million4.11%
PunjabRs. 412.82 million4.89%Rs. 435.79 million3.39%Rs. 567.66 million4.93%Rs. 709.26 million5.89%
Other StatesRs. 860.42 million10.19%Rs. 1,048.84 million8.15%Rs. 557.00 million4.84%Rs. 571.11 million4.75%
Total Rs. 7,626.97 million 90.34% Rs. 11,387.42 million 88.45% Rs. 10,260.35 million 89.05% Rs. 10,285.63 million 85.48%
IPORupee Insight: Gujarat is the largest contributing state, followed by Maharashtra. Gujarat contributed 27.27% of revenue for the six months ended September 30, 2025 and 31.71% in Fiscal 2025.

Formulations and Technicals Revenue Mix

Particulars Six months ended Sep 30, 2025 % of Sale of Products Fiscal 2025 % of Sale of Products Fiscal 2024 % of Sale of Products Fiscal 2023 % of Sale of Products
Formulations Rs. 6,034.76 million 71.81% Rs. 8,789.24 million 70.56% Rs. 7,542.74 million 65.58% Rs. 7,089.97 million 59.07%
Technicals Rs. 2,369.05 million 28.19% Rs. 3,666.89 million 29.44% Rs. 3,959.10 million 34.42% Rs. 4,913.50 million 40.93%
Total Rs. 8,403.81 million 100.00% Rs. 12,456.13 million 100.00% Rs. 11,501.84 million 100.00% Rs. 12,003.47 million 100.00%
IPORupee View: Formulations have become the larger part of the product revenue mix. Their share increased from 59.07% in Fiscal 2023 to 71.81% for the six months ended September 30, 2025.

Product Category Revenue Mix

Product Category Six months ended Sep 30, 2025 % of Sale of Products Fiscal 2025 % of Sale of Products Fiscal 2024 % of Sale of Products Fiscal 2023 % of Sale of Products
Insecticides Rs. 4,940.30 million 58.79% Rs. 7,849.56 million 63.02% Rs. 7,844.59 million 68.20% Rs. 7,523.02 million 62.67%
Herbicides Rs. 1,251.35 million 14.89% Rs. 2,183.03 million 17.53% Rs. 1,669.66 million 14.52% Rs. 2,514.52 million 20.95%
Fungicides Rs. 1,283.72 million 15.28% Rs. 1,648.70 million 13.24% Rs. 1,398.89 million 12.16% Rs. 1,698.64 million 14.15%
PGRs and Others Rs. 928.44 million 11.05% Rs. 774.83 million 6.22% Rs. 588.70 million 5.12% Rs. 267.29 million 2.23%
Total Rs. 8,403.81 million 100.00% Rs. 12,456.13 million 100.00% Rs. 11,501.84 million 100.00% Rs. 12,003.47 million 100.00%
IPORupee Insight: Insecticides are the largest product category, contributing 58.79% of sale of products from continuing operations for the six months ended September 30, 2025. The share of PGRs and others increased from 2.23% in Fiscal 2023 to 11.05%, indicating product diversification.

Patented and Generic Product Revenue

Particulars Six months ended Sep 30, 2025 % of Sale of Products Fiscal 2025 % of Sale of Products Fiscal 2024 % of Sale of Products Fiscal 2023 % of Sale of Products
Revenue from Sale of Patented Products Rs. 1,436.75 million 17.10% Rs. 2,169.24 million 17.42% Rs. 1,595.02 million 13.87% Rs. 699.99 million 5.83%
Revenue from Sale of Generic Products Rs. 6,967.06 million 82.90% Rs. 10,286.89 million 82.58% Rs. 9,906.82 million 86.13% Rs. 11,303.48 million 94.17%
Total Rs. 8,403.81 million 100.00% Rs. 12,456.13 million 100.00% Rs. 11,501.84 million 100.00% Rs. 12,003.47 million 100.00%
IPORupee Insight: Revenue from patented products increased from 5.83% in Fiscal 2023 to 17.10% for the six months ended September 30, 2025. This supports the company’s research-driven positioning, although generic products still contribute the majority of revenue.

Domestic Business Mix

Particulars Six months ended Sep 30, 2025 % of Sale of Products Fiscal 2025 % of Sale of Products Fiscal 2024 % of Sale of Products Fiscal 2023 % of Sale of Products
Domestic B2B - Technicals Rs. 2,159.04 million 25.69% Rs. 3,304.34 million 26.53% Rs. 3,095.63 million 26.91% Rs. 3,695.15 million 30.78%
Domestic B2B - Formulations Rs. 1,633.56 million 19.44% Rs. 2,478.58 million 19.90% Rs. 2,856.55 million 24.84% Rs. 2,047.19 million 17.06%
Domestic B2C - Formulations Rs. 3,803.51 million 45.26% Rs. 5,237.69 million 42.05% Rs. 4,308.17 million 37.46% Rs. 4,543.20 million 37.85%
Total Domestic Business Rs. 7,596.11 million 90.39% Rs. 11,020.61 million 88.48% Rs. 10,260.35 million 89.21% Rs. 10,285.55 million 85.69%
IPORupee View: Domestic B2C formulations are the largest contributor within the domestic business, contributing 45.26% of sale of products for the six months ended September 30, 2025.

International Business Mix

Particulars Six months ended Sep 30, 2025 % of Sale of Products Fiscal 2025 % of Sale of Products Fiscal 2024 % of Sale of Products Fiscal 2023 % of Sale of Products
International B2B - Technicals Rs. 210.02 million 2.50% Rs. 362.55 million 2.91% Rs. 863.47 million 7.51% Rs. 1,218.35 million 10.15%
International B2B - Formulations Rs. 597.69 million 7.11% Rs. 1,072.97 million 8.61% Rs. 378.02 million 3.29% Rs. 499.57 million 4.16%
Total International Business Rs. 807.70 million 9.61% Rs. 1,435.52 million 11.52% Rs. 1,241.49 million 10.79% Rs. 1,717.92 million 14.31%
The company’s international business primarily includes business from Uruguay, United States of America, Vietnam, Brazil, Singapore, Bangladesh, United Arab Emirates, Taiwan, Australia and Sri Lanka.
IPORupee Insight: International revenue reduced as a percentage of sale of products from 14.31% in Fiscal 2023 to 9.61% for the six months ended September 30, 2025. Recent performance is more domestic-led.

Distribution Network and Customer Base

The company has built relationships with B2B customers in domestic and international markets. Its customers include agrochemical companies such as Bharat Rasayan Limited, Dharmaj Crop Guard Limited, Indofil Cropsciences Limited, SML Limited, Willowood Chemicals Limited and Agrico Organics Limited.

Distributor Network

  • Fiscal 2023: 5,890 distributors
  • Fiscal 2024: 5,454 distributors
  • Fiscal 2025: 5,644 distributors
  • Six months ended September 30, 2025: 4,801 distributors

Customer Concentration

Top 10 customers contributed 22.87% of revenue from continuing operations for the six months ended September 30, 2025, indicating a reasonably diversified customer base.

Particulars Six months ended Sep 30, 2025 Fiscal 2025 Fiscal 2024 Fiscal 2023
Top Three Customers 12.18% 7.93% 9.43% 19.07%
Top Five Customers 16.23% 12.01% 14.12% 24.34%
Top Ten Customers 22.87% 19.05% 23.73% 32.70%

Manufacturing and Capacity Utilisation

The company manufactures primarily in-house and has facilities for formulations, technicals, intermediates and plasticizers.

Facility Products Manufactured Installed Capacity Capacity Utilisation - Six months ended Sep 30, 2025
Odhav Facility Formulations 27,132.00 MT 9.92%
Odhav Facility Technicals 3,960.00 MT 41.66%
Kathwada Facility Formulations 6,000.00 MT 78.13%
Nandesari Facility Technicals 11,160.00 MT 75.09%
Nandesari Facility Plasticizers 21,600.00 MT Not available
Samba Facility Formulations 10,540.00 MT 25.02%
Saykha Facility Intermediates 5,400.00 MT 3.85%
Investor Check: Capacity utilisation varies widely across facilities and product lines. Kathwada formulations and Nandesari technicals show higher utilisation, while Odhav formulations, Samba formulations and Saykha intermediates show lower utilisation for the six months ended September 30, 2025.

Manufacturing Process Overview

The company manufactures formulations in different forms such as capsule suspension, suspension concentrate, flowable suspension, granule formulation, suspo-emulsion formulation, water dispersible granules, soluble granules and liquid formulations.

Capsule Suspension Formulation

The process begins after QC approval. Ingredients are homogenized using a high-shear homogenizer, combined with auxiliaries and gel, and then tested before final approval.

Granule Formulation

Technical material is homogenized with emulsifiers, sprayed onto river sand, coated with China clay, processed through a vibro shifter and sent for QC approval.

Suspension Concentrate Formulation

The manufacturing process includes preparation of technical mill-based slurry, homogenization, wet milling, mixing with gel and final QC approval.

Suspo-emulsion Formulation

The process includes preparation of oil and water phases, homogenization, adding auxiliaries, gel mixing, pH adjustment and final QC approval.

Key Financial Performance

Particulars Six months ended Sep 30, 2025 Fiscal 2025 Fiscal 2024 Fiscal 2023
Revenue from OperationsRs. 8,442.91 millionRs. 12,873.85 millionRs. 11,521.61 millionRs. 12,033.09 million
Growth in Revenue from OperationsN.A.11.74%-4.25%N.A.
Gross ProfitRs. 3,181.41 millionRs. 5,093.67 millionRs. 4,072.67 millionRs. 3,263.86 million
Gross Margin37.68%39.57%35.35%27.12%
EBITDARs. 1,388.56 millionRs. 1,640.33 millionRs. 1,304.05 millionRs. 812.82 million
EBITDA Margin16.45%12.74%11.32%6.75%
Restated Net Profit from Continuing OperationsRs. 810.65 millionRs. 814.20 millionRs. 555.40 millionRs. 175.73 million
PAT Margin9.56%6.26%4.80%1.46%
ROE15.62%18.38%15.00%4.79%
ROCE15.45%19.80%18.91%9.00%
Net DebtRs. 2,925.27 millionRs. 2,631.90 millionRs. 1,951.46 millionRs. 2,813.33 million
Net Debt to EBITDA2.11x1.60x1.50x3.46x
Net Debt to Equity0.55x0.58x0.53x0.77x
Net Fixed Assets Turnover Ratio3.01x4.87x5.06x6.51x
Net Working Capital Days110 days117 days101 days126 days
IPORupee Financial View: Profitability has improved strongly. Gross margin improved from 27.12% in Fiscal 2023 to 39.57% in Fiscal 2025, while EBITDA margin improved from 6.75% to 12.74% during the same period and further to 16.45% for the six months ended September 30, 2025.
Investor Check: Agrochemical businesses can be seasonal and cyclical. Investors should assess whether the margin improvement is sustainable over a full financial year.

Key Strengths

Research-driven Company

The company has over 40 years of experience in agrochemicals and focuses on product research and development.

Strong Registration Portfolio

As of September 30, 2025, the company had 524 registrations across formulations and technicals.

Patent Portfolio

As of the date of the RHP, the company had 102 granted patents and 108 patent applications under process.

Diversified Products

The company manufactures insecticides, herbicides, fungicides and plant growth regulators.

Domestic Distribution Network

The company has a large domestic B2C distributor network, with 4,801 distributors in the six months ended September 30, 2025.

Improving Profitability

Margins have improved significantly from Fiscal 2023 to the six months ended September 30, 2025.

Positive Triggers vs Risk Triggers

Positive Triggers

  • Strong R&D and patent base
  • 524 registrations across formulations and technicals
  • Improving patented product revenue share
  • Formulations share increasing in product mix
  • Large domestic distributor network
  • Improving EBITDA and PAT margins
  • Diversified product portfolio
  • Reasonably diversified customer base
  • Presence in domestic and international markets

Risk Triggers

  • High dependence on domestic business
  • Insecticides remain the largest category
  • International revenue share has reduced
  • Working capital days remain meaningful
  • Agrochemical demand is seasonal and crop-cycle dependent
  • Regulatory approvals and product registrations are critical
  • Some facilities show low capacity utilisation
  • Generic products still contribute majority of revenue

IPORupee Review

GSP Crop Science Limited is a research-driven agrochemical company with a long operating history, strong product registrations, a large patent portfolio and a diversified crop protection product range.

The company has a strong domestic presence and a wide distributor network. Its formulations business has grown as a share of product revenue, and patented product contribution has improved over the years. These are positive indicators for a research-driven agrochemical company.

Financially, the company has shown strong improvement in margins and profitability. However, agrochemical businesses are affected by seasonality, monsoon, crop cycles, pest incidence, raw material prices and regulatory controls.

IPORupee View: The company’s long-term quality will depend on whether it can sustain margin improvement, grow patented product contribution, improve capacity utilisation and maintain its distribution strength.

What Retail Investors Should Understand

GSP Crop Science is a manufacturing and R&D-driven agrochemical company with formulations, technicals, registrations and patents.

Important things to track after listing: revenue growth from formulations, patented product contribution, domestic versus international revenue mix, capacity utilisation, working capital days, EBITDA margin sustainability, product registration pipeline, regulatory risks, distributor network strength, debt and cash flow position.
IPORupee Final View: GSP Crop Science has a strong agrochemical platform with registrations, patents, manufacturing capabilities and a large domestic distribution network. However, investors should not ignore agrochemical cyclicality, domestic dependence, regulatory risk and working capital requirements.

Disclosure and Disclaimer

This content is prepared only for educational and informational purposes for IPORupee users based on details provided in the company’s RHP/DRHP and related disclosures.

  • All figures, revenue details, margins, product mix, capacity utilisation, customer details, registrations, patents and operational information should be verified from the latest official offer document before making any investment decision.
  • This is not investment advice, research recommendation or a buy/sell/hold call. IPO investing involves market risk, business risk, valuation risk, liquidity risk and listing risk.
  • The company operates in the agrochemical sector, which may be affected by monsoon, crop cycles, pest incidence, farmer demand, regulatory approvals, product bans, raw material prices, working capital requirements and international market conditions.
  • Investors should read the full RHP, risk factors, financial statements, objects of the issue, valuation details and consult a qualified financial advisor before investing.

Subscription Data

CategorySize
(In Cr)		Subscribed
(In Cr)		No of Times
(x)
QIB80.00212.682.66
bNII (Above 10L)40.00164.494.11
sNII (2L to 10L)20.0023.991.20
NII Total60.00188.483.14
Retail140.0058.320.42
Total280.00459.481.64
CategoryPercentageNo. of Shares OfferedAmount
QIB
50.00 %
62,50,000
200.00 Cr
Retail
35.00 %
43,75,000
140.00 Cr
Total HNI
15.00 %
18,75,000
60.00 Cr
SHNI
5.00 %
6,25,000
20.00 Cr
BHNI
10.00 %
12,50,000
40.00 Cr

GSP Crop Science Ltd allotted 37,50,000 equity shares to anchor investors at ₹320 per share on 13 Mar 2026 before the IPO opening. The total anchor allocation stood at 120.00 Cr across 3 anchor investors.

The largest anchor investor received 33.34% of the anchor portion. The top five anchor investors together received 37,50,000 shares, representing about 100.00% of the total anchor allocation.

Top 3 Anchor Investors

RankAnchor Investor NameShares AllocatedAllocation %Allocation Amount
1Shine Star Build Cap Pvt Ltd12,50,08433.34 %40.00 Cr
2Craft Emerging Market Fund PCC-Citadel Capital Fund12,49,95833.33 %40.00 Cr
3Craft Emerging Market Fund PCC- Elite Capital Fund12,49,95833.33 %40.00 Cr

The figures are based on the company’s stock exchange anchor allotment intimation. Anchor allocation is only an informational disclosure and does not indicate future listing performance.

ApplicationDiscountQty (Lot)Total
Retail MIN
-
46 (1)
₹ 14,720
Retail MAX
-
598 (13)
₹ 1,91,360
SHNI MIN
-
644 (14)
₹ 2,06,080
SHNI MAX
-
3082 (67)
₹ 9,86,240
BHNI MIN
-
3128 (68)
₹ 10,00,960
ObjectiveNo Of SharesAmount
Fresh Issue
-
240.00 Cr
Offer for Sale
50,00,000
160.00 Cr
DocumentAction
DRHPView
RHPView
Anchor AllotmentView
#TitlePublished Date
1GSP Crop Science IPO Listing: Modest Debut, Strong Post-Listing Rally to ₹ 390 (22% Gain)01-04-2026 , Wednesday
IPO Contact Details
Registered Office
404, Lalita Complex, Rasala Road, Mithakhali Six Road, Navrangpura, Ahmedabad - 380 009, Gujarat, India
Corporate Office
404, Lalita Complex, Rasala Road, Mithakhali Six Road, Navrangpura, Ahmedabad - 380 009, Gujarat, India
Contact Person
Kamleshbhai D Patel - Company Secretary and Compliance Officer
Registrar to Issue Details
Registrar Name
MUFG Intime India Private Limited
Contact Person
Shanti Gopalkrishnan

Lead Managers

NameContact PersonTelephoneEmailWebsite
Equirus Capital Private Limited
Malay Shah/Siddh Vadecha
+91 22 43320736
gspcrop.ipo@equirus.com
www.equirus.com
Motilal Oswal Investment Advisors
Limited
Vaibhav Shah/Kunal Thakkar
+91 22 7193 4380
gspcrop.ipo@motilaloswal.com
www.motilaloswalgroup.com
IPO Details

GSP Crop Science Ltd IPO Details FAQs

Understand company details, IPO size, price band, lot size, exchange listing, fresh issue and Offer for Sale (OFS) in simple language for retail investors.

Which company's IPO is this?

This IPO is of GSP Crop Science Ltd. The issue is scheduled to open on Monday, 16 March 2026 and closes on Wednesday, 18 March 2026.

After the IPO process is completed, the shares are proposed to be listed on both NSE and BSE.

What is the IPO size?

IPO size means the total amount offered to investors through the public issue.

For GSP Crop Science Ltd IPO, the total issue size is Rs 400 crore, consisting of a fresh issue of Rs 240 crore and an Offer for Sale (OFS) of Rs 160 crore.

What is the price band or issue price?

Price band is the price range within which investors can bid for shares in a book-built IPO.

For this IPO, the lower price band is Rs 304 per share and the upper price band is Rs 320 per share.

What is the lot size?

Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.

For GSP Crop Science Ltd IPO, the minimum lot size is 46 shares. At the upper price band of Rs 320 per share, the minimum application amount is Rs 14,720. Applications must be made in multiples of 46 shares.

What is Fresh Issue in this IPO?

Fresh Issue means the company issues new shares to investors and receives money from that part of the IPO.

For GSP Crop Science Ltd IPO, the Fresh Issue size is Rs 240 crore. The company can use these funds for purposes mentioned in the IPO documents, such as business growth, repayment of borrowings, working capital, capital expenditure, or general corporate purposes.

What is Offer for Sale (OFS) in this IPO?

Offer for Sale (OFS) means existing shareholders sell their shares to the public through the IPO.

For GSP Crop Science Ltd IPO, the Offer for Sale (OFS) size is Rs 160 crore. In an OFS, the selling shareholders receive the money, and the company usually does not receive funds from that portion.

IPO Timeline

GSP Crop Science Ltd IPO Timeline FAQs

Understand the important IPO dates, allotment process, refund schedule and listing timeline in a retail-friendly format.

What is the IPO opening date?

The IPO opening date is the first day on which investors can apply for the public issue.

For GSP Crop Science Ltd IPO, the IPO opens on Monday, 16 March 2026.

What is the IPO closing date?

The IPO closing date is the last day on which investors can submit, modify, or cancel their IPO applications.

GSP Crop Science Ltd IPO closes on Wednesday, 18 March 2026.

When is the tentative allotment date?

The tentative allotment date is the expected date on which the registrar finalizes the share allotment for valid IPO applications.

For GSP Crop Science Ltd IPO, the tentative allotment date is Friday, 20 March 2026.

When is the tentative listing date?

The tentative listing date is the expected date on which IPO shares begin trading on the stock exchanges.

GSP Crop Science Ltd IPO is expected to list on Tuesday, 24 March 2026.

When do refunds and demat credit happen?

After allotment, funds are unblocked or refunds are initiated for non-allotted investors, while allotted shares are credited to investors' demat accounts before listing.

For GSP Crop Science Ltd IPO, refund initiation is expected on Monday, 23 March 2026, and credit of shares to demat accounts is expected on Monday, 23 March 2026.

IPO Structure

GSP Crop Science Ltd IPO Structure FAQs

Understand IPO category-wise reservation, QIB quota, retail quota, HNI allocation, shareholder reservation and the meaning of structure columns in a simple format.

What is the IPO structure?

IPO structure shows how shares are divided among different categories of investors, such as QIB, Retail, NII/HNI, Employees, and Shareholders.

For GSP Crop Science Ltd IPO, the available categories in the structure table include QIB, Retail, Non-Institutional Investors (NII/HNI). The NII/HNI category includes SHNI and BHNI sub-categories. Investors can use this table to understand category-wise allocation before applying.

What is the QIB category?

QIB stands for Qualified Institutional Buyers. This category includes mutual funds, banks, insurance companies, and other large financial institutions.

In GSP Crop Science Ltd IPO, 50% shares are reserved under the QIB category, with 62,50,000 shares offered, and an allocation amount of ₹200.00 crore.

What is the Retail category?

The Retail category is reserved for individual investors and HUFs applying for up to Rs 2 lakh within the retail investment limit allowed under IPO rules.

In GSP Crop Science Ltd IPO, 35% shares are reserved under the Retail category, with 43,75,000 shares offered, and an allocation amount of ₹140.00 crore.

What is the NII/HNI category?

NII/HNI stands for Non-Institutional Investors / High Net-Worth Individuals. This category generally includes investors applying for more than Rs 2 lakh, above the retail investment limit.

In GSP Crop Science Ltd IPO, 15% shares are reserved under the NII/HNI category, with 18,75,000 shares offered, and an allocation amount of ₹60.00 crore.

What is the SHNI category?

SHNI stands for Small HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 2 lakh but not exceeding Rs 10 lakh.

In GSP Crop Science Ltd IPO, 5% shares are reserved under the SHNI sub-category, with 6,25,000 shares offered, and an allocation amount of ₹20.00 crore.

What is the BHNI category?

BHNI stands for Big HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 10 lakh.

In GSP Crop Science Ltd IPO, 10% shares are reserved under the BHNI sub-category, with 12,50,000 shares offered, and an allocation amount of ₹40.00 crore.

Lot Size Details

GSP Crop Science Ltd IPO Lot Size FAQs

Understand retail lot size, HNI application limits, employee category, shareholder category and investment amount calculations using the IPO lot table.

What is lot size in an IPO?

Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.

For GSP Crop Science Ltd IPO, the minimum lot size is 46 shares. At the upper price band of Rs 320 per share, the minimum application amount is Rs 14,720. Applications must be made in multiples of 46 shares.

What is Retail minimum application?

Retail minimum application shows the minimum application size for retail investors.

For GSP Crop Science Ltd IPO, the Retail minimum application is 46 shares (1 lot) for about Rs 14,720.

What is Retail maximum application?

Retail maximum application shows the maximum application size generally available under the retail category.

For GSP Crop Science Ltd IPO, the Retail maximum application is 598 shares (13 lots) for about Rs 1,91,360.

What is SHNI minimum application?

SHNI minimum application shows the minimum application size for the Small HNI category.

For GSP Crop Science Ltd IPO, the SHNI minimum application is 644 shares (14 lots) for about Rs 2,06,080.

What is SHNI maximum application?

SHNI maximum application shows the maximum application size available under the Small HNI category, when provided.

For GSP Crop Science Ltd IPO, the SHNI maximum application is 3,082 shares (67 lots) for about Rs 9,86,240.

What is BHNI minimum application?

BHNI minimum application shows the minimum application size for the Big HNI category.

For GSP Crop Science Ltd IPO, the BHNI minimum application is 3,128 shares (68 lots) for about Rs 10,00,960.

Financial Highlights

GSP Crop Science Ltd IPO Financial FAQs

Understand important financial figures in simple language using the financial statement data available for the IPO.

What are Financial Highlights?

Financial Highlights show important numbers from the company's financial statements. These may include income, expenses, profit, assets, liabilities, cash flow and other financial information, depending on the data available for the IPO.

The table displays available financial data based on the IPO information currently available. Fields may differ from company to company depending on disclosures and reporting format.

How should investors read the Financial Highlights table?

Investors should read the table to understand the company's financial performance and financial position over different periods.

The table may help users review income, expenses, profitability, balance sheet position, cash movement or other financial information, depending on the available data.

Why can financial line items differ between IPOs?

Financial statement line items may differ because companies operate in different industries and may follow different reporting formats.

Some companies may provide detailed financial breakup, while others may present broader financial categories.

What should investors check in financial data?

Investors should review income, expenses, profitability, debt position, asset base, liabilities and cash flow position together.

A single financial figure should not be used alone to judge the company.

Why is profit not enough to judge an IPO?

Profit is important, but it does not show the full financial picture.

Investors should also review revenue quality, expenses, debt, assets, liabilities, cash flow, valuation and business risks.

Why is cash flow important in financial analysis?

Cash flow helps investors understand how money moves in and out of the business.

A company may report profit but still face cash flow pressure, so cash flow should be reviewed along with profit, debt and balance sheet information.

Should investors rely only on Financial Highlights?

No. Financial Highlights are useful, but investors should also review valuation, peer comparison, KPI data, business risks, IPO pricing, management discussion and official offer documents such as the RHP or DRHP.

Peer Comparison

GSP Crop Science Ltd IPO Peer Comparison FAQs

Understand how the company may be compared with similar businesses using the peer comparison data available for the IPO.

What is Peer Comparison?

Peer Comparison means comparing the IPO company with businesses operating in a similar sector or industry.

It helps investors understand the company in a broader industry context.

Why is Peer Comparison useful?

Peer Comparison helps investors understand how the company can be compared with similar businesses using available financial or valuation metrics.

It is useful for context, but it should not be treated as a final investment conclusion.

Why can peer comparison metrics differ?

Peer comparison metrics may differ depending on the companies selected, accounting format, business model and available public information.

Investors should compare only relevant and similar metrics.

How should investors read a Peer Comparison table?

Investors should use the peer comparison table as a reference point.

Available metrics should be read together with business model, scale, profitability, margins, debt, growth, valuation and IPO pricing.

Can Peer Comparison decide whether an IPO is good or bad?

No. Peer Comparison does not directly decide whether an IPO is good or bad.

It only provides context for comparison. Final analysis should include financial statements, KPI data, valuation, risk factors and official offer documents.

Should investors rely only on Peer Comparison?

No. Peer Comparison is only one part of IPO analysis.

Investors should also review financial statements, KPI data, business risks, valuation, IPO pricing and company fundamentals.

Key Performance Indicators

GSP Crop Science Ltd IPO KPI FAQs

Understand important KPI metrics in simple language using the key performance indicator data available for the IPO.

What are Key Performance Indicators (KPIs)?

Key Performance Indicators, or KPIs, are financial and valuation metrics used to understand profitability, efficiency, leverage, return-based ratios and earnings performance.

They help investors understand the company beyond basic financial figures.

Why are KPIs important for IPO investors?

KPIs help investors assess profitability, capital efficiency, leverage, valuation and earnings quality.

They should be reviewed together with financial statements, peer comparison and IPO pricing.

Why can KPI availability differ between IPOs?

KPI data may differ depending on the company, industry, financial disclosures and available offer document information.

Not every IPO may provide every KPI, and some metrics may not be applicable to every business.

How should investors read KPI metrics?

Investors should read KPI metrics together instead of relying on one ratio.

A single KPI may not give the full picture unless it is reviewed with financial statements, peer comparison, business model and valuation.

Can high or low KPI values directly decide investment quality?

No. High or low KPI values need context.

The meaning of a ratio may differ depending on industry, business model, debt level, growth stage, profitability and IPO valuation.

Should investors rely only on KPI data?

No. KPI data is useful, but it should not be used alone.

Investors should also review financial statements, peer comparison, business risks, valuation, IPO pricing and official offer documents such as the RHP or DRHP.