GSP Crop Science IPO
GSP Crop Science Limited (GSPCROP) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 24 March 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -0.8% (likely range -19% to +12%), day's high +3.4%, chance of a gain 49%. Actual: +2.5% at the open, +13.8% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 24,99,998 | 66,46,356 | 2.66x | |
| NII (HNI) total | 19,34,211 | 58,89,840 | 3.05x | |
| Big NII (above ₹10 lakh) | 12,89,474 | 51,40,224 | 3.99x | |
| Small NII (₹2-10 lakh) | 6,44,737 | 7,49,616 | 1.16x | |
| Retail | 45,13,158 | 18,25,648 | 0.40x | |
| Total | 89,47,367 | 1,43,61,844 | 1.61x |
Bids on NSE and BSE together, as published by NSE, as of 18 Mar 2026, 07:00 PM. Shares offered exclude the anchor portion. 10% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to GSP Crop Science's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Rajputana StainlessMar 2026 | 2.51x | 2.59x | 0.27x | 1.12x | ₹293 Cr | 0.0% | +0.1% |
| Keystone RealtorsNov 2022 | 3.84x | 3.03x | 0.53x | 2.01x | ₹668 Cr | +2.6% | +5.3% |
| BMW VenturesSep 2025 | 3.09x | 3.03x | 0.99x | 1.50x | ₹235 Cr | -21.2% | -21.2% |
| GTPL HathwayJun 2017 | 1.48x | 2.85x | 0.99x | 1.53x | ₹492 Cr | 0.0% | +2.9% |
| Pace DigitekSep 2025 | 1.60x | 2.90x | 1.03x | 1.59x | ₹863 Cr | +2.7% | +5.5% |
| GlottisOct 2025 | 1.87x | 2.97x | 1.42x | 2.05x | ₹314 Cr | -34.9% | -27.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Equirus Capital | 34 | +21.3% | 74% |
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
Offer documents (NSE)
Frequently asked
What is the GSP Crop Science IPO price band and lot size? ₹304–320 per share, with a lot of 46 shares, so the smallest retail bid is ₹14,720.
How many times has it been subscribed? 1.61x overall: QIB 2.66x, NII 3.05x, retail 0.40x.
How did it list? It opened at ₹328, +2.5% against the issue price of ₹320, and closed its first day +11.3%.
