GSP Crop Science Raises ₹120 Crore from Anchor Investors; IPO to Open on March 16

Agrochemical company GSP Crop Science has successfully raised ₹120 crore from anchor investors ahead of its upcoming initial public offering (IPO). The company allocated around 37.5 lakh shares to anchor investors at ₹320 per share, the upper end of the IPO price band. The ₹400-crore IPO will open for public subscription on March 16 and close on March 18. The public issue consists of a fresh issue of ₹240 crore and an offer for sale (OFS) worth ₹160 crore by existing shareholders. The IPO price band has been fixed at ₹304–₹320 per share, and retail investors can apply with a minimum lot size of 46 shares. At the upper price band, the minimum investment required is about ₹14,720. GSP Crop Science is a research-driven agrochemical company that develops and manufactures crop protection products such as insecticides, herbicides, fungicides, and plant growth regulators. The company plans to use a portion of the IPO proceeds—around ₹170 crore—to repay existing borrowings and for general corporate purposes. The allotment of shares is expected to be finalized on March 20, while the company’s shares are likely to be listed on the stock exchanges on March 24.