India's GSP Crop Science gains in trading debut

GSP Crop Science

24/03/2026 07:29

** Shares of GSP Crop Science GSPC.NS rise 4.4% to 334.1 rupees in trading debut

** GSPC listed at 328 rupees - 2.5% above IPO share price of 320 rupees

** Agrochemical manufacturer stock's current share price values co at 15.54 billion rupees ($165.7 million)

** IPO proceeds will be used to repay outstanding debt, which is expected to strengthen the balance sheet and significantly reduce finance costs

** Adroit Financial Services notes co's revenue mix from patented products increased significantly in the last one year leading to higher margins and improving co’s return profile

** SBI Securities says current rise in raw material and freight costs due to the Middle East war is likely to impact co's performance in Q4

** Brokerage adds that weaker monsoons due to El Nino conditions could impact demand for insecticides, herbicides and fungicide

** IPO was subscribed 1.46 times

($1 = 93.7790 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))