The company says that it needs funds to expand the business, so it plans to file a draft paper with the market regulator SEBI soon.
GSP Crop Science IPO: Agro-chemical firm GSP Crop Science Private Limited is going to launch its IPO next year. The company is looking to raise Rs 500 crore through this IPO. The company’s Managing Director Bhavesh Shah has given this information. He said that the company needs funds to expand its business. So she is planning to file a draft paper with the market regulator SEBI soon.
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Fund will be used here
The company wants to launch new products and set up a new production line in Dahej, Gujarat. Shah said that the money raised through the IPO will be used for this. Teerth Shah, whole-time director, GSP Crop Science, said the company’s financial performance has improved in the last few years and the company is looking at an IPO for its expansion plans.
Know about the company
Ahmedabad based GSP Crop Science Company was started in 1985. The company manufactures technology grade ingredients and manufactures insecticides, fungicides and herbicides, intermediates, biopesticides, seed-treatment chemicals and public health products. Shah said in an interview, “We are in the initial stage of IPO. Around Rs 500 crore will be raised through IPO.
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Revenue expected to increase by 15-20%
He said that the revenue of the company has increased on a yearly basis. The company’s revenue during the financial year 2021-22 stood at Rs 1,350 crore, as against Rs 1,000 crore in its previous year. He said the company expects about 15-20 per cent growth in annual revenue in the current financial year. At present, there are three units of GSP Crop Science, two in Gujarat and one in Jammu. The fourth unit is planned to be established in Dahej. Most of its sales come from Maharashtra, followed by Gujarat and other states.
(Input-PTI)
