24 December 2024, 01:04 PM
GSP Crop Science has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company's IPO is a mix of fresh issue of shares worth Rs 280 crore and an Offer For Sale (OFS) of 60 lakh equity shares by promoters.
Proceeds from the fresh issue to the tune of Rs 200 crore will be used for payment of debt and and a portion will be utilised for general corporate purposes. Equirus Capital and Motilal Oswal Investment Advisors are the book-running lead managers of the issue.
GSP Crop Science is a research-focused agrochemical company with over 39 years of expertise in developing and manufacturing insecticides, herbicides, fungicides, and plant growth regulators in India.