Biopol Chemicals Limited is entering the capital market with a 100% fresh issue of 28.94 lakh equity shares. The company has fixed the price band at ₹102 to ₹108 per share. The proceeds from the issue are primarily intended to fund the acquisition of industrial land in Vatva, Gujarat (approx. ₹12.26 crore) and the repayment of borrowings (approx. ₹11.10 crore) to improve its debt-to-equity ratio.
The company operates a WHO-GMP and ISO-certified manufacturing unit in West Bengal with a capacity of 18.25 lakh litres per annum. It serves a diverse B2B client base across India and international markets like Bangladesh. Financially, Biopol has shown explosive growth; its revenue jumped from ₹17.43 crore in FY24 to ₹49.13 crore in FY25, while its Profit After Tax (PAT) rose from ₹2.96 crore to ₹4.33 crore. Remarkably, the company has already reported a PAT of ₹6.00 crore for the 9-month period ending December 2025, indicating strong margin expansion ahead of the IPO.
Key IPO Details & Timetable
| Feature | Details |
| Price Band | ₹102 – ₹108 per share |
| Lot Size | 1,200 Shares (Min. Investment ₹2,59,200 for Retail*) |
| Total Issue Size | ₹31.26 Crore |
| Listing Platform | NSE SME (Emerge) |
| Open Date | February 6, 2026 (Friday) |
| Close Date | February 10, 2026 |
| Basis of Allotment | February 11, 2026 |
| Tentative Listing | February 13, 2026 |
*Note: Retail investors are required to apply for a minimum of 2 lots (2,400 shares) for this issue.
Important Note for Investors
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Today's Status (Feb 2): The IPO is currently in its pre-subscription phase. The bidding window is not yet open; it will officially open for investors this coming Friday.
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Grey Market Premium (GMP): As of today, the GMP is trading at ₹0. This indicates a neutral "wait-and-watch" sentiment in the unlisted market as investors analyze the company’s recent earnings surge.
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Textile Industry Reliance: A significant risk factor is the company's high dependence on the textile sector, which consumes a large portion of its silicone and softener products. Any slowdown in textile exports or domestic demand could directly impact Biopol's bottom line.
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Geographical Concentration: Most of the company's revenue is derived from West Bengal and Gujarat. While these are industrial hubs, this concentration makes the business sensitive to regional economic shifts.
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Valuation: Based on post-IPO earnings, the stock is priced at a P/E of approximately 14.58x. This is generally considered competitive when compared to larger listed peers like Fineotex Chemical or Rossari Biotech, provided the current growth rate is maintained.
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