GSP Crop Science's IPO Journey: A New Chapter in AgroChem

GSP Crop Science Ltd plans an IPO to raise Rs 280 crore, with a mix of fresh shares and an Offer For Sale by promoters. A portion is earmarked for debt repayment and corporate purposes. The Ahmedabad-based company, known for its agrochemical expertise, saw profits surge in fiscal 2024.

GSP Crop Science Ltd, a pioneering agrochemical firm from Ahmedabad, has made a significant move towards raising capital, having filed preliminary IPO documents with the capital market regulator, SEBI.

The company's financial plan involves a fresh issue worth Rs 280 crore and an Offer For Sale (OFS) of 60 lakh equity shares by its promoters, as detailed in the Draft Red Herring prospectus (DRHP). This initiative also includes a special subscription reservation for employees.

The IPO proceeds, amounting to approximately Rs 200 crore, are intended for debt repayment and supporting general corporate purposes, underscoring GSP Crop Science's continued dedication to innovation in agrochemical development and manufacturing.

(With inputs from agencies.)