GSP Crop Science IPO opens Day 1 with GMP trend, price band and important details

The IPO of GSP Crop Science Ltd opened for subscription today and will remain open until March 18, 2026. The company has fixed the price band at ₹304 to ₹320 per share and aims to raise ₹400 crore through a combination of fresh issue and offer-for-sale. In the grey market, the shares are currently trading at par with a grey market premium (GMP) of ₹0, indicating neutral sentiment ahead of the issue. By early bidding, the IPO was subscribed 0.01 times overall, while the retail portion was booked 0.02 times. The lot size for the IPO is 46 shares, and the most likely allotment date is March 19, 2026. MUFG Intime India has been appointed as the registrar to the issue, and the shares are proposed to be listed on the BSE and NSE with a tentative listing date of March 23, 2026. The company plans to use part of the IPO proceeds to reduce its borrowings, with up to ₹170 crore allocated for loan repayment, while the rest will support general corporate purposes. Financially, the company has reported improving performance, posting consolidated net profits of ₹17.57 crore in FY23, ₹55.54 crore in FY24, and ₹81.42 crore in FY25, while in the first half of FY26 it recorded a net profit of ₹81.07 crore on total income of ₹847.61 crore.