Agrochemical company GSP Crop Science Limited has also moved towards bringing its IPO. The company on Monday filed preliminary documents with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). According to the news of Bhasha, according to the draft documents (DRHP), the IPO of the Ahmedabad-based company is a mix of a new issue of shares worth Rs 280 crore and an offer for sale (OFS) of 60 lakh equity shares by the promoters.

The company will keep shares reserved for employees

According to the news, the company has also talked about keeping shares reserved for its employees in this IPO. In consultation with the Book Running Lead Managers (BRLM), GSP Crop Science Limited may consider raising Rs 56 crore through pre-IPO planning. If this happens, the size of the new issue will be reduced. According to the documents, the amount of Rs 200 crore from the new issue will be used to repay the debt and a part will be kept for general company operations. GSP Crop Science is a research-focused agrochemical company with more than 39 years of experience in the development and manufacturing of pesticides, herbicides, fungicides in India.

How much share will be allotted to whom

The offer is being made through a book-building process. Not more than 50 per cent of the net offer will be allotted to qualified institutional buyers, not less than 15 per cent to non-institutional investors and 35 per cent to retail individual investors.

Book-running lead manager

Link to this IPO Intime India is the registrar to the issue. Equirus Capital and Motilal Oswal Investment Advisors are the book-running lead managers to the public offering of GSP Crop Science. The equity shares offered in the DRHP are to be listed on the National Stock Exchange of India (NSE) and BSE.