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GSP Crop Science IPO Day 3 LIVE: The initial public offering (IPO) for GSP Crop Science has entered its third and last day of bidding on Friday, March 18. Investors can place bets for GSP Crop Science IPO till 5 pm today.

At the end of the second day, the ₹400 crore offer was booked 96% amid strong demand from NIIs and QIBs, whose portions have sailed through. The retail portion is booked just 20% as of March 17.

GSP Crop Science IPO, which opened on Monday, March 16, has a price band of ₹304–320 per share. At the upper end, the company is valued at ₹1,489 crore. Investors can apply for the IPO in lots of 46 shares.

The offering includes a fresh issue of shares worth ₹240 crore along with an Offer for Sale (OFS) of 50 lakh equity shares worth ₹160 crore by promoters.

Out of the proceeds from the fresh issue, ₹170 crore will be used to repay debt, while the remaining funds will go toward general corporate purposes.

Ahead of the offer launch, the company raised ₹120 crore from anchor investors.

GSP Crop Science IPO GMP today remains nil. The current GMP signals that shares of GSP Crop Science could list at par with the upper end of the price band.

Track this space for LIVE updates on GSP Crop Science IPO.

Revenue increased to INR 1,287.4 cr in FY25 from INR 1,152.2 cr in FY24, registering an 11.7% YoY growth. EBITDA rose to INR 164.0 cr in FY25 from INR 130.4 cr in FY24, reflecting a 26% YoY increase, while profit after tax increased to INR 83.4 cr in FY25 from INR 61.3 cr in FY24, representing a 36% YoY growth. EBITDA margin improved to 12.7% in FY25 compared with 11.3% in FY24, while profit margin expanded to 6.5% from 5.3%, supported by improved operating leverage and growth in the company’s agrochemical portfolio.

GSP Crop Science IPO was fully subscribed on the final day of the bidding process. Here's how different quotas were booked:

QIB: 1.28x

NII: 2.42x

Retail: 25%

Innovation: The company is research-driven with 102 granted patents and over 100 pending, ensuring a competitive edge in high-margin technicals and formulations.

Strong Profitability: Demonstrated strong earnings momentum, with FY25 profit rising 36% to ₹83.4 crore. H1FY26 profit stands at ₹82.7 crore.

Strategic Debt Reduction: The company plans to use ₹170 crore of fresh issue proceeds to repay high-interest debt, which is expected to lower interest costs and improve net margins.

Global Footprint: Diversified revenue streams from 20 Indian states and exports to over 35 countries.

Backward Integration: Ongoing investment in in-house intermediary manufacturing (Phase II commissioning in 4QFY26) aims to reduce import dependency and insulate gross margins from global supply shocks.

GSP Crop Science Ltd has solidified its position as a research-driven leader in the Indian agrochemical sector, specializing in the manufacture of technical-grade ingredients and high-performance formulations. As of early 2026, the company has transitioned into a global-scale operator, leveraging a portfolio of 102 granted patents and a pan-India distribution network across 20 states to maintain a robust ROCE of 19.80%.

The company’s financial profile reflects significant momentum, reporting an ₹81.07 Cr profit for the first half of FY26, which has already nearly surpassed the ₹81.42 Cr recorded for the entire Fiscal 2025. Strategically utilizing its IPO capital for fundamental strengthening, the company plans to deploy ₹170 Cr toward debt repayment to further deleverage its balance sheet and enhance net margins.

While the company manages a 0.55x net debt-to-equity ratio to fuel its R&D and manufacturing expansion, its primary focus remains capturing high-margin market share in the insecticides and herbicides segments. Given its consistent margin expansion, we suggest a ‘Subscribe’ rating for investors seeking exposure to India’s high-growth, innovation-led agricultural solutions landscape.

— Lakshmishree Investment

Out of the proceeds from the fresh issue, ₹170 crore will be used to repay debt, while the remaining funds will go toward general corporate purposes.

The Ahmedabad-based company's IPO consists of a fresh issue of shares worth ₹240 crore and an Offer For Sale (OFS) of 50 lakh equity shares valued at ₹160 crore at the upper end by promoters, aggregating ₹400 crore.

GSP Crop Science IPO GMP today remains nil. The current GMP signals that shares of GSP Crop Science could list at par with the upper end of the price band.

Agrochemical firm GSP Crop Science IPO was subscribed 96% by the second day of bidding on Tuesday.

According to NSE data, the IPO received bids for 86,04,622 shares against the 89,47,367 shares available. The non-institutional investor category was subscribed 2.33 times, while the Qualified Institutional Buyers (QIBs) portion saw 1.28 times subscription. Retail Individual Investors (RIIs), however, subscribed only 20% of their allotted quota.

GSP Crop Science IPO will open at 10 am for third and final day of bidding. Investors can place their bids till 5 pm today. So far, only the retail portion remained undersubscribed.Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course ...

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