GSP Crop Science Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
GSPCROP · price
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GSP Crop Science Limited filed its quarterly and annual monitoring agency report for the quarter and FY ended March 31, 2026, covering its IPO proceeds. The company raised Rs. 2,400 million via a fresh issue and Rs. 1,600 million via an offer for sale, totalling Rs. 4,000 million (allotment date: March 20, 2026). The monitoring agency is CRISIL Ratings Limited. The Audit Committee and Board reviewed the utilisation on May 14, 2026, and confirmed there is no deviation or variation from the objects stated in the Prospectus. Funds deployed include Rs. 965 million towards repayment of certain outstanding borrowings, Rs. 196.83 million for general corporate purposes, and Rs. 75.05 million towards issue expenses. All figures are in line with the disclosed allocation.
No negative impact — the company is deploying IPO proceeds exactly as promised in the prospectus, which is a positive signal for investor confidence and regulatory compliance.