GSP Crop Science's ₹400 crore IPO opens March 16
GSP Crop Science just picked up ₹120 crore from anchor investors before its IPO, by allotting 37.5 lakh shares at ₹320 each.
The IPO opens March 16, with shares priced between ₹304 to ₹320, and aims to raise a total of ₹400 crore.
Fresh issue and offer for sale in the IPO
The IPO includes a fresh issue of ₹240 crore and an offer for sale of 50 lakh shares by the promoters.
Most of the funds, ₹170 crore, will go toward repaying debt, with the rest for general business needs.
If you're looking to invest, the minimum bid is 46 shares (about ₹14,720 at the top price).
GSP reported a profit after tax of ₹61 crore in FY24
Based in Ahmedabad, GSP makes insecticides, herbicides, fungicides, and plant growth regulators. With four factories and exports to over 35 countries, it's got some serious reach.
In FY24, it reported revenue of ₹1,152 crore and a profit after tax of ₹61 crore.