Agro-chem co GSP Crop Science plans Rs.500-Cr IPO

Agro-chemical firm GSP Crop Science Pvt Lt is looking to launch an INR 500-crore Initial Public Offering by next year. The company plans to soon file a draft red herring prospectus with capital markets regulator Sebi. The funds raised will be used to launch new products and set up a new production line. Established in 1985, Ahmedabad-based GSP Crop Science manufactures technical grade ingredients and formulates insecticides, fungicides and herbicides, intermediates, biopesticides, seed-treatment chemicals and public health products. The company's revenue stood at INR 1,350 crore during FY 2021-22. Currently, GSP Crop Science has three units, two in Gujarat and one in Jammu. The fourth one is planned at Dahej. Much of its sales come from Maharasthra, followed by Gujarat.