GSP Crop Science IPO
Market Sentiment
Market Lot Size
IPO Details
IPO Reservation
Financial Analysis
| Metric | 2023 | 2024 | 2025 | Sep 2025 |
|---|---|---|---|---|
| Revenue | 1,206.05 | 1,158.23 | 1,301.06 | 847.61 |
| Expense | 1,182.72 | 1,081.67 | 1,191.38 | 739.86 |
| Profit (PAT) | 21.53 | 61.15 | 80.87 | 81.03 |
| Total Assets | 1,132.13 | 980.34 | 1,228.50 | 1,491.69 |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| PI Industries Limited | 28.25 | 109.44 | 16 |
| Sumitomo Chemical India Limited | 39.23 | 10.13 | 17 |
| Dhanuka Agritech Limited | 15.13 | 65.55 | 21 |
| Rallis India Limited | 40.12 | 6.43 | 7 |
| Bharat Rasayan Limited | 4.14 | 339.14 | 12 |
| India Pesticides Limited | 21.57 | 7.14 | 9 |
| Excel Industries Limited | 13.13 | 67.87 | 5 |
| Heranba Industries Limited | 252.92 | 0.77 | 0 |
Promoters: Bhavesh Vrajmohan Shah, Tirth Kenal Shah, Vilasben Vrajmohan Shah, Falguni Kenal Shah, Alpha Trust, and Kappa Trust
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 3,90,18,750 | 98.32% |
Company Information
GSP Crop Science is one of the leading research-driven agrochemical companies that develops, manufactures, and sells crop protection products such as insecticides, herbicides, fungicides, and plant growth regulators. The company has around 4 decades of experience in the agrochemical industry. The firm works in two major areas, including Formulations and Technicals. Due to this, the farmer got help and enhanced the productivity. Not only this, but the company has around 102 patents, and 108 more patent applications are currently in process. Moreover, the company runs five manufacturing plants in Gujarat and Jammu & Kashmir, with a total production capacity of 15,120 MTPA for technicals and 43,672 MTPA for formulations.
| Purpose | Amount (Cr) |
|---|---|
| Repayment or pre-repayment of all or a portion of certain outstanding borrowings availed by the Company | 200.00 |
| General Corporate Purpose | - |
Resources & Documents
GSP Crop Science Ltd., 404, Lalita Complex, Rasala Road,, Mithakhali Six Road,, Navrangpura,, Ahmedabad, Gujarat, 380009
GSP Crop Science has set a price band of Rs 304–Rs 320 per share for an issue size of Rs 400 crore. The stock listed with a 2.50% gain versus its issue price on March 24, 2026.
GSP Crop Science is one of the leading research-driven agrochemical companies that develops, manufactures, and sells crop protection products such as insecticides, herbicides, fungicides, and plant growth regulators. The company has around 4 decades of experience in the agrochemical industry.
The issue is promoted by Bhavesh Vrajmohan Shah, Tirth Kenal Shah, Vilasben Vrajmohan Shah, Falguni Kenal Shah, Alpha Trust, and Kappa Trust with Equirus Capital Pvt. Ltd., Motilal Oswal Investment Advisors Ltd. acting as lead manager. Net proceeds will primarily be used towards Repayment or pre-repayment of all or a portion of certain outstanding borrowings availed by the Company (Rs 200 crore) and General Corporate Purpose.
Grey market is quoting a premium of +Rs 2 (+0.6% over issue price). Final subscription data records overall subscription at 1.61x, retail at 0.40x, QIB at 2.66x, NII at 3.05x.
On fundamentals, the company is posting revenue growth of 12.3%, a profit margin of 6.2%, return on equity of 18.4% in its most recent reported period. Listed peers in this segment include Dhanuka Agritech Limited (P/E 15.13x, market cap Rs 21 crore) and Sumitomo Chemical India Limited (P/E 39.23x, market cap Rs 17 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as a Neutral stance — the data is mixed and the risk-reward is balanced rather than one-sided. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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