GSP Crop Science trims IPO size, sets ₹240 crore target
GSP Crop Science, an agrochemical company from Ahmedabad, is launching an IPO worth ₹240 crore, down from its earlier plan of ₹280 crore.
The number of shares in the offer-for-sale has also been trimmed to 50 lakh.
The DRHP was filed on March 10.
Financials and use of funds
GSP's revenue grew 11.7% to ₹1,287.4 crore in FY25, with profits jumping 36% to ₹83.4 crore.
In the first half of FY26 alone, profits nearly matched last year at ₹82.7 crore on revenues of ₹844.2 crore.
Money raised from the IPO will mainly go toward paying off debt and other business needs.
What do they do?
They make a range of crop protection products (think insecticides, herbicides, fungicides, and plant growth boosters) with 524 registrations and 102 patents as of September 2025.
Patented products made up about one-fifth of their recent revenue.
IPO details
The IPO opens for subscription March 16-18, with share allotment on March 20 and expected listing by March 24 on BSE and NSE.
Equirus Capital and Motilal Oswal are managing the process; Link Intime India Private Limited is the registrar.
SEBI's approval for this IPO runs out by end-March, so it's all happening soon.