Biopol Chemicals shares to list today. Check GMP ahead of debut – News Air Insight

Biopol Chemicals is set to make its NSE SME debut on February 13 with the grey market indicating a premium of around 4% over the issue price of Rs 108 per share. At the current GMP, the stock is indicating a possible listing around Rs 112-113 levels, suggesting modest listing gains if sentiment holds. However, as with all SME issues, grey market trends remain unofficial and can change closer to listing.The Rs 31.26 crore IPO, which was entirely a fresh issue of 28.94 lakh shares, witnessed strong investor response during the bidding period from February 6 to February 10. The issue was subscribed 22.33 times overall. The NII segment led the demand with 24.49 times subscription, followed by QIBs at 21.05 times and retail investors at 20.80 times. Investors bid for over 6.12 crore shares against 27.43 lakh shares offered to the public.

At the upper price band of Rs 108, Biopol Chemicals is valued at a post-issue market cap of around Rs 116.70 crore.

Biopol Chemicals, incorporated in 2023, manufactures and distributes specialty chemicals across silicones, emulsifiers, biochemicals and polyelectrolytes. Its portfolio includes 66 products catering to industries such as textiles, home care, agriculture and industrial chemicals. The company operates a B2B model and has an installed manufacturing capacity of 18.25 lakh litres per annum.

Financially, the company has shown rapid growth. For the nine months ended December 31, 2025, it reported total income of Rs 48.97 crore and PAT of Rs 6 crore. For FY25, total income stood at Rs 49.15 crore with PAT of Rs 4.33 crore, compared with Rs 17.43 crore income and Rs 2.96 crore profit in FY24. Also read: Risk-on trade back? Smallcap stocks rally up to 28% in 2026, but market breadth stays weak

Margins have improved sharply. EBITDA margin rose to 18.41% in the December 2025 period from 13.30% in FY25, while PAT margin expanded to 12.29% from 8.84%. Return ratios remain strong, with ROE at 36.32% and ROCE at 26.32% as of December 2025. However, debt-to-equity has risen to 0.76.

IPO proceeds will be used primarily for acquisition of industrial land and repayment of borrowings, which may help strengthen the balance sheet going forward. While subscription data and GMP indicate positive sentiment, investors should note that SME listings tend to be volatile, with liquidity often limited in the initial days.

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