Biopol Chemicals Files for SME IPO; Fresh Issue of 33.96 Lakh Shares on NSE Emerge

Ahmedabad | September 30, 2025 – Biopol Chemicals Limited has filed DRHP (Draft Red Herring Prospectus) for its upcoming IPO for the NSE Emerge Platform. The issue comprises a 100% fresh issue (up to 33.96 lakh shares), and there is no Offer for Sale (OFS) component in the issue. The company has also kept a pre-IPO placement of up to 3.50 lakh shares. If this is extended, the fresh issue size will be proportionally reduced.

Biopol Chemicals IPO Snapshot

The IPO comprises a 100% fresh issue of up to 33.96 lakh shares, along with a pre-IPO placement of up to 3.50 lakh shares. The issue size and price band are yet to be announced. The company plans to list on NSE Emerge, targeting SME investors. Smart Horizon Capital Advisors Pvt Ltd is the lead manager, while Bigshare Services Pvt Ltd will act as registrar. Details regarding the market maker are pending, indicating the IPO structure is still being finalised.

Biopol Chemicals IPO Use of Proceeds

The company will use the IPO proceeds for capital expenditure (around ₹1226.47 lakhs) for the acquisition of industrial land in Gujarat. It will use ₹1110 lakhs for repayment of debt, and the remaining amount shall be used for general corporate purposes as underlined in the DRHP.

Company Overview

The company was founded in 2023 and went public only last year. It is engaged in the manufacturing and distribution of a diverse range of 66 specialty chemicals, including silicones, emulsifiers, biochemicals, and polyelectrolytes. The company operates on a B2B model and offers its products to a wide range of sectors, starting with textile, home care, agriculture and industrial applications. The manufacturing facility is based in Kolkata, WB.

Biopol Chemicals IPOFinancial Highlights (FY25)

For FY25, the company reported a total income of ₹4,915.13 lakh, with a profit after tax (PAT) of ₹434.34 lakh, indicating solid profitability. Earnings per share (EPS) stood at ₹5.49, while Return on Net Worth (RONW) was a healthy 32.07%, indicating efficient capital utilization. The Net Asset Value (NAV) came in at ₹17.12 per share, offering a strong book value. However, total borrowings of ₹768.53 lakh highlight a moderate level of leverage that investors should factor into their assessment.

Biopol Chemicals IPO Promoters and Shareholding

The issue is being led by promoters Santanu Sarkar and Vedant Sarkar, who currently hold 98.10% of the company’s equity share capital. Post-issue shareholding will be determined after finalisation of the offer size.

Biopol Chemicals IPO Key Factors to Watch

• Expansion plans: The planned acquisition of land in Gujarat aims to establish an additional manufacturing unit and shift the registered office.
• Debt reduction: IPO proceeds earmarked for loan repayment may strengthen the balance sheet.
• Risks: The company remains heavily dependent on the textile segment and faces risks associated with customer and supplier concentration, as well as regional exposure in West Bengal, Gujarat, and Bangladesh.

Next Steps: Details such as the IPO price band, opening and closing dates, bid lot size, allotment and listing dates will be announced closer to the launch.

REF: https://nsearchives.nseindia.com/emerge/corporates/content/Registration_29092025224013_BiopolChemicalsLimitedDRHP.pdf

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