GSP Crop Science’s initial public offering listed on March 24, 2026, with shares opening above the price band on both the BSE and NSE. The company raised a total of Rs 400 crore through the issue. Shares opened at Rs 332.30 per share on the BSE, representing a premium of Rs 12.30 or 3.84 percent over the upper price band of Rs 320. On the NSE, the stock listed at Rs 328 per share, up Rs 8 or 2.50 percent compared to the price band.
According to sources tracking informal market activity, the company’s unlisted shares were trading at around Rs 322 per share prior to listing, indicating a premium of approximately 0.62 percent over the price band.
Following listing, the stock rose further. On the BSE, shares reached Rs 362.30 per share, around 13 percent above the price band. At 10:26 a.m., the stock was trading at Rs 333.95, up 1.65 percent.
The Rs 400 crore issue was structured as a book-built offering. It included a fresh issue of 7.5 million shares aggregating Rs 240 crore, and an offer for sale of 5 million shares worth Rs 160 crore by promoters Vilasben Vrajmohan Shah, Bhavesh Vrajmohan Shah and Kappa Trust.
The issue was open for subscription from March 16 to March 18, 2026. The price band was set at Rs 304 to Rs 320 per share, with a lot size of 320 shares. Against 8,947,367 shares on offer, applications were received for 14,361,844 shares, resulting in an overall subscription of 1.61 times.
Non-institutional investors subscribed 3.05 times their allotted portion, while qualified institutional buyers applied 2.66 times. Retail investor participation remained lower, with subscription at 40 percent of the allocated portion.
The allotment of shares was finalized on March 20, 2026. The face value of the shares was Rs 320 per share.
