Upcoming IPO: Ahmedabad-based agrochemical company GSP Crop Science files DRHP for IPO

Upcoming IPO: GSP Crop Science, an Ahmedabad-based agrochemical company, has filed its draft red herring prospectus (DRHP) with the capital markets regulator, Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

GSP Crop Science IPO size

GSP Crop Science IPO will be a combination of a fresh issue of shares worth ₹280 crore and an offer for sale of up to 6 million equity shares by the promoter of the company.

GSP Crop Science OFS details

Via the OFS, Vilasben Vrajmohan Shah will sell up to 2.65 million equity shares while Bhavesh Vrajmohan Shah and Kappa Trust will offload up to 1.67 million equity shares each.

GSP Crop Science IPO employee reservation

The offer also includes a reservation for subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.

GSP Crop Science IPO objective

The proceeds from the fresh issue to the extent of ₹200 crore will be used for repayment or prepayment of all or a portion of certain outstanding borrowings availed by the company and general corporate purposes.

About GSP Crop Science

GSP Crop Science is a research-focused agrochemical company with over 39 years of expertise in developing and manufacturing insecticides, herbicides, fungicides, and plant growth regulators in India.

As of September 30, 2024, the company had secured 507 registrations across Formulations and Technicals for agrochemicals, supported by a strong focus on research and development. It holds 89 granted patents across various agrochemical categories and has 98 additional patent applications in progress. One of its subsidiaries, Rajdhani Petrochemicals, was recognized among the top 10 Indian applicants for Patent Cooperation Treaty filings in Fiscal 2022 and for patents from Scientific and R&D Organizations in Fiscal 2017.

GSP Crop Science operates four manufacturing facilities.

GSP Crop Science Key Customers

Its clientele includes prominent agrochemical companies such as Bharat Rasayan, Dharmaj Crop Guard, Indogulf Cropsciences, SML, Willowood Chemicals, and Agrico Organics.

GSP Crop Science Lead managers and Registrars

Equirus Capital Private and Motilal Oswal Investment Advisors are the book-running lead managers and Link Intime India is the registrar of the issue.

The equity shares are proposed to be listed on the National Stock Exchange of India and BSE.

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