About the Company
The company creates two main types: formulations (ready-to-use mixes) and technicals (pure active ingredients). It sells under its brands or to other companies for their labels.
Markets in 20 Indian states and 37 countries like USA, Brazil, Vietnam. Customers are farmers, distributors, and exporters. Business model: R&D, manufacture, distribute agro products.
READ FULL DRHP HERE: GSP -CROP-SCIENCE-DRHP
IPO Details
| Detail | Information |
|---|---|
| IPO Name | GSP Crop Science Ltd IPO |
| Exchange | NSE / BSE (Mainboard) |
| IPO Type | Book Built |
| Issue Size | ₹400 Cr |
| Fresh Issue | ₹240 Cr |
| OFS | ₹160 Cr |
| Price Band | ₹304 – ₹320 |
| Lot Size | 46 shares |
| Minimum Investment | ₹13,984 |
| Listing Date | March 24, 2026 |
| Registrar | MUFG Intime India Pvt Ltd |
| Lead Managers | Equirus Capital Pvt Ltd |
| SME/Mainboard | Mainboard |
REGISTRAR: CLICK HERE
How the Company Will Use IPO Money
₹170 Cr to pay back loans and cut debt. Rest for general business needs like daily running costs.
Key Financial Metrics (Use DRHP Audited Financials)
| Metric | FY23 | FY24 | FY25 | H1 FY26 |
|---|---|---|---|---|
| Revenue (₹ Cr) | 1,206 | 1,158 | 1,301 | 848 |
| EBITDA (₹ Cr) | 81 | 130 | 164 | 139 |
| EBITDA Margin % | - | - | 12.7 | 16.5 |
| PAT (₹ Cr) | 18 | 56 | 81 | 81 |
| PAT Margin % | - | - | 6.3 | 9.6 |
| EPS (₹) | - | - | 20.9 | - |
| Net Worth (₹ Cr) | 363 | 370 | 450 | 530 |
| Debt (₹ Cr) | 324 | 235 | 296 | 321 |
| Debt-to-Equity Ratio | 0.89 | 0.64 | 0.66 | 0.61 |
| ROE % | - | - | 18.4 | 15.6 |
| ROCE % | - | - | 19.8 | 15.5 |
| Assets (₹ Cr) | 1,132 | 980 | 1,229 | 1,492 |
Revenue steady around ₹1,200 Cr, dipped slightly in FY24. PAT grew strongly from ₹18 Cr to ₹81 Cr. EBITDA doubled, margins up to 16.5%, debt/equity under 1, ROE 18%.
Strengths
- Wide product range of 524 registered agro chemicals.
- Exports to 37 countries, diverse markets.
- 102 patents and strong R&D facilities.
- PAT up 350% from FY23 to FY25.
- Serves 20 states in India with 1,221 staff.
Key Concerns & Risks
- Revenue slightly down in FY24 due to price drops.
- Agrochem market highly competitive and fragmented.
- Relies on chemical raw materials with price swings.
- Strict regulations for registrations and exports.
- Promoter selling ₹160 Cr in OFS.
IPO FAQS
What is an IPO?
- An IPO (Initial Public Offering) is when a private company sells its shares to the public for the first time to raise money.
- Example: If a well-known pizza company wants to grow, it can list its shares on the stock exchange so anyone can buy a piece of the company.
How can you apply for an IPO (using Zerodha or Upstox)?
- Make sure you have a Demat account and your bank account is linked.
- Steps:
- Log in to your broker’s app (e.g., Zerodha Kite, Upstox).
- Go to the IPO section.
- Select the company’s IPO you want to apply for.
- Enter how many shares (or ‘lots’) you want and the price you wish to bid.
- Enter your UPI ID, submit your application, and approve the UPI payment request.
How are IPO shares allotted?
- If more people want shares than are available, the company uses a lottery system to decide who gets them.
- If you don’t get shares, your money is simply returned.
What is GMP (Grey Market Premium)?
- GMP shows the extra price people are willing to pay for IPO shares before they officially start trading.
- Example: If IPO price is ₹100 and GMP is ₹20, people are unofficially ready to pay ₹120. It hints at the IPO’s popularity but isn’t a guarantee.
Where to check upcoming IPOs (IPO calendar)?
- Visit popular finance sites like Chittorgarh, IPOWatch, or official exchange websites (NSE, BSE) and look for the “Upcoming IPO” section.
What are IPO listing gains?
- If the share’s price rises on the first trading day, you can make instant profit.
- Example: You buy at ₹150, and it opens at ₹200, you gain ₹50 per share.
How can you make profit from an IPO?
- Quick gains on listing day (if the stock price goes up).
- Long-term: If the company grows, the share price could increase further.
Which IPO is best to buy?
- There is no single best IPO. Check the company’s background, current demand, and GMP, but always research before investing.
- High GMP or popularity doesn’t guarantee profits.
Are IPOs safe?
- IPOs can be profitable but also risky; prices can go up or down sharply.
- Only invest if you are ready for potential losses.
How to check IPO allotment status?
- After the IPO process, check on exchanges (BSE/NSE websites) or the IPO registrar’s site (like K-Fintech, Bigshare,or mufg-intime) by entering your PAN or application number to see if you got shares.
Important Tips for Retail Investors Applying for an IPO
- Use Only Your Own PAN Card:
Avoid using the same PAN card for multiple IPO applications. For example, if you have already applied using your PAN for one IPO, don’t try to apply again with the same PAN under different accounts or through others. - Apply in the Right Category:
Ensure you select the correct investor category (such as Retail Individual Investor) when filling out your application. Applying under a wrong category can lead to rejection or disqualification. - Maintain Sufficient Bank Balance:
Before applying, ensure your bank account linked to the application has enough funds to cover the full bid amount. For instance, if the IPO application requires a payment of ₹15000, make sure your account holds at least that amount. - Use Your Own Bank Account:
Always apply through your own bank account. Using someone else’s account can cause your application to be rejected during the verification process. - Avoid Last-Minute Applications:
Don’t wait until the deadline day or moments before to apply. Last-minute submissions may face technical glitches or processing delays, reducing the chances of success.