GSP Crop Science Shares Debut with Over 11% Premium
GSP Crop Science Ltd shares closed with a premium of over 11 per cent against an issue price of Rs 320 on Tuesday.Trading Performance
The stock commenced trading at Rs 332.30 on the BSE, reflecting a 3.84 per cent increase from the issue price. During the trading day, the stock reached a high of Rs 363.60, a 13.62 per cent jump. The stock ultimately closed at Rs 356.10, up 11.28 per cent.On the NSE, the stock listed at Rs 328, a 2.5 per cent premium. The stock concluded the day at Rs 356.25, representing an 11.32 per cent increase.
Market Capitalization and IPO Details
GSP Crop Science’s market capitalization is currently Rs 1,656.53 crore. The Rs 400-crore IPO, priced between Rs 304 and Rs 320 per share, garnered 1.61 times subscription on the final day of bidding.The initial public offering included a fresh issue of shares worth Rs 240 crore and an offer for sale (OFS) of 50 lakh equity shares valued at Rs 160 crore by promoters.
Use of Funds
Proceeds from the fresh issue of Rs 170 crore will be allocated for debt repayment, with a portion designated for general corporate purposes.Company Overview
GSP Crop Science is a research-focused agrochemical company with over 39 years of experience in developing and manufacturing insecticides, herbicides, fungicides, and plant growth regulators in India.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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