GSP Crop Science IPO Review
GSP Crop Science Limited, a research-driven agrochemical company in India, plans to raise ₹400 crore through an initial public offering.
[Fresh Issue ₹240 Cr + OFS ₹160 Cr]
Gsp crop science ipo price is ₹304 – ₹320 per share
GSP Crop Science: History
The Company was originally incorporated as Gujarat Superphosphate Industries Private Limited, a private limited company under the Companies Act, 1956, on February 12, 1985.
The Company was then converted into a public limited company under a special resolution passed in the EGM by the shareholders on October 7, 2024.
Its name was subsequently changed to GSP Crop Science Limited under a fresh certificate of incorporation issued by the RoC on November 6, 2024.
GSP Crop Science: Business
GSP Crop Science Ltd is a research-driven agrochemical company, specializing in the development and manufacturing of insecticides, fungicides, herbicides, and plant growth regulators (PGRs) in India.
Find the Gsp crop Science product list.
The Company mainly provides crop protection solutions to its clients.
These solutions are designed to support farmers in maximizing productivity and achieving optimal agricultural output through the development, manufacturing, supply, and distribution of
- Formulations, and
- Technicals.
According to the ICRA Report, GSP has a proven track record of introducing Formulations and Technicals to the Indian agrochemicals market.
As of December 31, 2025, GSP Crop has an annual aggregated installed capacity of 43,672 MTPA for Formulations and 15,120 MTPA for Technicals.
Patents
The company’s constant research and development (R&D) efforts over the last 39 years have led to the grant of 102 patents.
It also has 108 patent applications under process as of the date of this Draft Red Herring Prospectus.
Manufacturing Facilities
As of September 30, 2025, the company has four manufacturing facilities located at,
- Odhav (Ahmedabad, Gujarat),
- Kathwada (Ahmedabad, Gujarat),
- Nandesari (Vadodara, Gujarat), and
- Samba (UT of Jammu & Kashmir).
Client List
GSP has adopted a multi-faceted approach by establishing a presence in both international and domestic markets.
For the International Business, the company catered to clients in 39 countries, including those in the Asia Pacific (excluding India), Latin America, North America, and other geographies.
For the Domestic Business, the company caters to Bharat Rasayan Limited, Dharmaj Crop Guard Limited, Indogulf Cropsciences Limited, SML Limited, Willowood Chemicals Limited, and Agrico Organics Limited.
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Strategies Ahead
- Expand product offerings by leveraging R&D capabilities.
- Expand into international markets and capitalize on the growing agrochemical industry.
- Diversify client base and increase wallet share with existing customers.
- Optimization of manufacturing capabilities through backward integration.
- Focus on improving operational efficiencies.
- Reduction of leverage and borrowings.
Company Promoters
- Bhavesh Vrajmohan Shah,
- Tirth Kenal Shah,
- Vilasben Vrajmohan Shah,
- Falguni Kenal Shah,
- Alpha Trust,
- Kappa Trust.
Refer to the GSP Crop Science DRHP for further details.
IPO Details
IPO date: 16 – 18 March 2026
Minimum Amount: ₹14,720
Minimum Bid: 46 Shares
Face Value: ₹10
Listing On: NSE, BSE
Object of the IPO
(1) Full (part) repayment of outstanding secured borrowings, and
(2) General corporate purposes.
Financial
Book Running Lead Managers
Equirus Capital
Motilal Oswal Investment Advisors
CONCLUSION
Considering financial performance, nature of the business, and the above-listed factors in mind, FinBlab recommends ‘MAY SUBSCRIBE‘ ratings on GSP Crop Science IPO.
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