GSP Crop Science IPO

About GSP Crop Science IPO

The GSP Crop Science IPO opens on Monday, March 16, 2026 and closes on Wednesday, March 18, 2026. The allotment of shares will take place on Friday, March 20, 2026. The credit of shares to the demat account will take place on Monday, March 23, 2026. The initiation of refunds will take place on Monday, March 23, 2026. The listing of shares will take place on Tuesday, March 24, 2026.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include 0.75 crore shares aggregating to ₹240.00 crores. The offer for sale portion includes 0.50 crore shares aggregating to ₹160.00 crores. The total number of shares and aggregate amount are 1,25,00,000 shares (aggregating up to ₹400 crores).

GSP Crop Science price band is set at ₹304 to ₹320 per share. The lot size for an application is 46. The minimum amount of investment required by a retail investor is ₹14,720 (46 shares) (based on upper price). The lot size investment required by sNIIs is 14 lots (644 shares), amounting to ₹2,06,080, and for bNII, it is 68 lots (3,128 shares), amounting to ₹10,00,960.

GSP Crop Science is a research-driven agrochemical company, specializing in the development and manufacturing of insecticides, herbicides, fungicides and plant growth regulators in India, with over 39 years of experience in the agrochemical industry. They provide their customers with crop protection solutions designed to support farmers in maximizing productivity and achieving optimal agricultural output through development, manufacturing, supply and distribution.

Objectives of GSP Crop Science IPO

The Net Proceeds of the Fresh Issue are proposed to be utilised in the following manner:

• Repayment or pre-repayment of all or a portion of certain outstanding borrowings availed by our Company.
• General corporate purposes.

Industry Outlook

India’s agriculture market output plays a key role in the country's economy, providing food security while also contributing significantly to India’s GDP. Recent developments in agriculture practices, improved technology, rise in investments coupled with favourable government policies have led to robust growth in the sector. Crops like rice, wheat, sugarcane, and cotton dominate the agriculture landscape forming the cornerstone of India’s agriculture output.

Company Information

GSP Crop Science is a research-driven agrochemical company with 39+ years of experience. It specialises in developing and manufacturing insecticides, herbicides, fungicides, and plant growth regulators in India. Focused on crop protection solutions, it offers formulations (active ingredients with additives) and technicals (concentrated active ingredients for formulations). They have adopted a multi-faceted approach to their business, by establishing presence in both domestic and international markets. This strategy allows them to effectively cater to diverse customer needs and capitalize on opportunities across various regions.

As of September 30, 2025, they have five manufacturing facilities located at Odhav (Ahmedabad, Gujarat), Kathwada (Ahmedabad, Gujarat), Nandesari (Vadodara, Gujarat), Samba (UT of Jammu & Kashmir) and Saykha (Dahej, Gujarat). As of September 30, 2025, they have an annual aggregated installed capacity of 15,120 MTPA for technicals, 43,672 MTPA for formulations and 5,400 MTPA for intermediates across their five manufacturing facilities.

Risks of GSP Crop Science IPO

• Require certain approvals and licenses, including certain registrations from the Central Insecticides Board and Registration Committee for their products.

• Subject to stringent technical specifications and quality requirements in relation to their technicals and formulations.

• Required to comply with the applicable regulations of the international geographies and obtain registrations from foreign governmental authorities.

• Depend on a few suppliers for supply of raw materials.

• Do not enter into long-term agreements with their customers.

• Dependent on their distribution network for the distribution of formulations in their B-to-C domestic business.

• Business is sensitive to seasonal vagaries and adverse weather conditions which affect the agrochemical industry.

• Any adverse impact on the global or domestic agrochemical industry could have an adverse impact on the business.

Anchor Investor Bidding Date: Friday, March 13, 2026

Registrar: MUFG Intime India Private Limited (Formerly Link Intime India Private Limited)

Book Running Lead Managers:

Equirus Capital Private Limited

Motilal Oswal Investment Advisors Limited

GSP Crop Science Business Model

The company earns its revenue by specialising in the development and manufacturing of insecticides, herbicides, fungicides, and plant growth regulators in India. It provides crop protection solutions through formulations (active ingredients with additives) and technicals (concentrated active ingredients for formulations).

GSP Crop Science Growth Trajectory

The company’s Total Income was ₹1301.056 crores in FY2025, ₹1158.228 crores in FY2024, and ₹1206.047 crores in FY2023.

Their Profit After Tax was ₹81.420 crores in FY2025, ₹55.540 crores in FY2024, and ₹17.573 crores in FY2023.

EBITDA was ₹164.033 crores in FY2025, ₹130.405 crores in FY2024, and ₹81.282 crores in FY2023.

GSP Crop Science Market Position

As of September 30, 2025, they have received 524 registrations across formulations and technicals for agrochemicals manufactured by them.

In their international business, they catered to 253 customers in 37 countries during the six months ended September 30, 2025, Fiscals 2025, 2024 and 2023, including in Latin America, Asia Pacific (excluding India), North America and other geographies. The countries primarily included Uruguay, United States of America, Vietnam, Brazil, Singapore, Bangladesh, United Arab Emirates, Taiwan, Australia and Sri Lanka.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹1301.056 crores, ₹81.420 crores, and ₹164.033 crores, respectively.

How to Apply for GSP Crop Science IPO?

Here are the steps to apply for GSP Crop Science Ltd IPO:

• Step 1: Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.

• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.

• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.

• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.

• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.