GSP Crop Science IPO Subscribed 0.48 Times on Day 1
Last Updated: 16th March 2026 - 05:32 pm
GSP Crop Science Limited's initial public offering (IPO) opened for subscription on March 16, 2026, recording an overall subscription of 0.48 times by 4:49 PM on Day 1. The ₹400 crore book-build issue, priced at ₹304–₹320 per share, received bids for 41,73,396 shares against 87,50,000 shares on offer, with total applications reaching 8,753.
Subscription Status of GSP Crop Science IPO
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 1 (March 16) | 1.28 | 0.29 | 0.10 | 0.48 |
Here are the subscription details for GSP Crop Science IPO Day 1, as of 4:46 PM:
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ Cr.) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 37,50,000 | 37,50,000 | 120.00 |
| QIB (Ex-Anchor) | 1.28 | 25,00,000 | 32,02,428 | 102.48 |
| NII | 0.29 | 18,75,000 | 5,37,050 | 17.19 |
| Retail | 0.10 | 43,75,000 | 4,33,918 | 13.89 |
| Total | 0.48 | 87,50,000 | 41,73,396 | 133.55 |
Key Highlights – Day 1
- Overall subscription reached 0.48 times on Day 1 (March 16, 2026), reflecting moderate initial investor interest in this agrochemical IPO.
- Qualified institutional buyers (ex-anchor) crossed full subscription at 1.28 times, indicating strong institutional interest on the opening day.
- Non-institutional investors recorded 0.29 times, with bNII at 0.36 times and sNII at 0.14 times on Day 1.
- Retail investors showed subdued participation at 0.10 times on Day 1.
- Anchor investors fully subscribed their allocation of ₹120 crores on March 13, 2026.
About GSP Crop Science Limited
Incorporated in 1985, GSP Crop Science Limited is an agrochemical company engaged in the manufacturing of insecticides, herbicides, fungicides, and plant growth regulators. The company holds 524 registrations across formulations and technicals as of September 30, 2025, supported by 102 granted patents and 108 patent applications under process as of March 10, 2026. It serves customers across 20 states in India and exports to 37 countries including the USA, Brazil, Vietnam, UAE, and Australia. The company operates dedicated R&D facilities in Kathwada and Odhav, and had 1,221 permanent employees as of September 30, 2025.
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