The subscription for Biopol Chemicals Limited is currently live and will officially close tomorrow, Tuesday, February 10, 2026. As of midday today, the issue has seen a muted start, being subscribed 0.13 times overall. The retail category leads the interest at 0.19x, followed by Non-Institutional Investors (NII) at 0.16x, while the Qualified Institutional Buyer (QIB) segment is yet to see significant movement.

Biopol operates a manufacturing facility in West Bengal with an annual capacity of 18.25 lakh litres, producing 66 different products used in textiles, agriculture, and home care. Financially, the company has shown a sharp upward trend; while it earned a profit of ₹4.33 crore in FY25, it has already reported a Profit After Tax (PAT) of ₹6 crore for the first nine months of FY26, signaling strong margin improvement.

The Grey Market Premium (GMP) as of today remains at ₹0, suggesting that the unlisted market expects the stock to list at or near its issue price of ₹108.

IPO Timetable & Investment Details

*Note: Retail investors are required to apply for a minimum of 2 lots (2,400 shares).

Important Note for Investors

• Earnings vs. Valuation: The company is currently valued at a P/E of 14.58x based on its post-IPO annualized earnings. While this is lower than industry giants like Rossari Biotech, some analysts have raised concerns about the "boosted" performance seen just before the IPO.

• Textile Sector Dependency: A significant portion of Biopol's revenue comes from silicone softeners and emulsifiers used in the textile industry. Any downturn in textile exports could directly impact their order book.

• Geographical Concentration: Nearly 88% of revenue is generated from just two states (West Bengal and Gujarat) and exports to Bangladesh. This lack of geographical diversity is a key risk factor noted in the RHP.

• Utilization of Funds: Investors should note that ₹11.10 crore (approx. 35% of the issue) will go toward debt repayment. While this improves the balance sheet, it is not direct "growth capital" for new machinery.

• High Promoter Holding: Even after the IPO, the promoters will retain a significant 65.81% stake, ensuring skin in the game and management continuity.