Biopol Chemicals IPO: Check GMP, price band, subscription and other details

Biopol Chemicals IPO opened for subscription on Friday, February 6, aiming to raise Rs 31.26 crore through a fresh issue of shares. The SME IPO will remain open till February 10 and the company is scheduled to list on the NSE SME platform on February 13. In the grey market, the issue is currently quoting at a premium of 0%, indicating muted listing expectations ahead of the opening.

The IPO is priced in a band of Rs 102 to Rs 108 per share. Retail investors need to apply for a minimum of 2,400 shares, translating into an investment of Rs 2,59,200 at the upper end of the price band.

Biopol Chemicals is engaged in the manufacturing and distribution of specialty chemicals, with products spanning silicones, emulsifiers, biochemicals and polyelectrolytes. The company follows a B2B business model and supplies to institutional clients across sectors such as textiles, home care, agriculture and industrial chemicals. Its portfolio comprises 66 products, with silicone-based offerings forming the bulk of its range.


The company operates four establishments across Gujarat and West Bengal, including its manufacturing unit, corporate office and warehouse. Its manufacturing facility has an installed capacity of about 18.25 lakh litres per annum. As of December 31, 2025, Biopol Chemicals employed 24 people.

On the financial front, the company has reported steady growth. For the nine months ended December 31, 2025, Biopol Chemicals posted total income of Rs 48.97 crore, compared with Rs 49.15 crore for the full year ended March 2025 and Rs 17.43 crore in FY24. Profit after tax stood at Rs 6 crore for the December 2025 period, up from Rs 4.33 crore in FY25 and Rs 2.96 crore in FY24. EBITDA for the same period came in at Rs 8.99 crore, reflecting improving operating margins.

The company plans to use the IPO proceeds primarily for acquiring industrial land and for repayment or prepayment of certain borrowings. A portion of the funds will also be used for general corporate purposes. Post-issue, promoter holding will reduce from 89.88% to 65.81%.

The issue is being managed by Smart Horizon Capital Advisors, with Bigshare Services acting as the registrar. Shreni Shares has been appointed as the market maker for the issue.

While the company operates in a niche specialty chemicals segment and has shown improving profitability, the absence of a grey market premium suggests that investors are approaching the issue cautiously, keeping broader market conditions and SME valuations in mind as the subscription window opens.

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