Agrochemical firm i.e. agricultural chemical firm GSP Crop Science Restricted has additionally moved in direction of launching its IPO. The corporate on Monday filed preliminary paperwork with the Securities and Change Board of India (SEBI) to lift funds via an preliminary public providing (IPO). In keeping with the draft paperwork (DRHP), the Ahmedabad-based firm’s IPO is a mixture of a contemporary challenge of shares value Rs 280 crore and a proposal on the market (OFS) of 60 lakh fairness shares by promoters, Bhasha reported.
Firm will maintain share reserve for workers
In keeping with the information, the corporate has additionally stated to maintain share reserve for its workers on this IPO. GSP Crop Science Ltd might take into account elevating Rs 56 crore via a pre-IPO placement in session with the corporate’s e-book working lead managers (BRLMs). If this occurs, the dimensions of the brand new challenge can be diminished. In keeping with the paperwork, Rs 200 crore of proceeds from the contemporary challenge can be used to repay debt and a portion can be saved for normal firm functioning. GSP Crop Science is a research-focused agrochemical firm with over 39 years of expertise in growing and manufacturing pesticides, herbicides, fungicides in India.
How a lot would be the share allotted to whom?
This proposal is being made via a book-building course of. On this, greater than 50 % of the web provide can be allotted to certified institutional patrons, not lower than 15 % to non-institutional traders and 35 % to retail particular person traders.
E book-Operating Lead Supervisor
Hyperlink Intime India is the registrar for this challenge. Equirus Capital and Motilal Oswal Funding Advisors are the book-running lead managers to the general public providing of GSP Crop Science. The fairness shares provided within the DRHP are to be listed on the Nationwide Inventory Change of India (NSE) and BSE.
