GSP Crop science

May 14 (Reuters) - GSP Crop Science Ltd GSPC.NS:

• TO ACQUIRE BALANCE 21% STAKE OF GSP INTERMEDIATES FOR 31.5 MILLION RUPEES

Further company coverage: GSPC.NS

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** Shares of GSP Crop Science GSPC.NS rise 4.4% to 334.1 rupees in trading debut

** GSPC listed at 328 rupees - 2.5% above IPO share price of 320 rupees

** Agrochemical manufacturer stock's current share price values co at 15.54 billion rupees ($165.7 million)

** IPO proceeds will be used to repay outstanding debt, which is expected to strengthen the balance sheet and significantly reduce finance costs

** Adroit Financial Services notes co's revenue mix from patented products increased significantly in the last one year leading to higher margins and improving co’s return profile

** SBI Securities says current rise in raw material and freight costs due to the Middle East war is likely to impact co's performance in Q4

** Brokerage adds that weaker monsoons due to El Nino conditions could impact demand for insecticides, herbicides and fungicide

** IPO was subscribed 1.46 times

($1 = 93.7790 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

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