The Rs 44.97 crore book-built issue opened on December 2 and closed on December 4, consisting entirely of a fresh issue of 45.88 lakh shares. Allotments were finalised on December 5, and shares will be credited to demat accounts on December 8. At the upper price band of Rs 98, the company’s pre-IPO market cap stands at Rs 167.78 crore, while the post-issue equity base expands to 1.71 crore shares.
Subscription turnout was robust across categories, with the IPO receiving 15.52 times overall bids. Qualified institutional buyers subscribed 21.97 times, NIIs came in at 21.15 times and retail investors subscribed 9.42 times. Ahead of the issue, anchor investors committed Rs 12.77 crore on December 1, taking 13.03 lakh shares.
Neochem Bio Solutions operates in the speciality performance chemicals space and has built a diversified portfolio of over 350 customised formulations. Its products are essential inputs for a wide range of industries, including textile and garment processing, home and personal care, institutional and industrial cleaning, water treatment, paints and coatings, construction, paper and pulp, rubber, and dyes and pigments.
A major part of its business is textile and garment processing auxiliaries, where the company supplies chemistries across pre-treatment, dyeing, finishing, printing and coating for different fabric types. Neochem Bio has a manufacturing facility in the Saket Industrial Estate in Sanand, Ahmedabad, with an installed capacity of 22,000 MTPA. The site spans 6,763 square meters and supports the company’s growing operations across end-use applications.
The company’s financial performance has strengthened meaningfully. Revenue rose 39% in FY25 to Rs 86.15 crore, while profit after tax surged 330% to Rs 7.75 crore, driven by higher-margin product lines.
The IPO proceeds will be used to fund long-term working capital requirements of Rs 23.90 crore, repay borrowings worth Rs 10 crore, and meet general corporate needs.
As the company approaches listing, the modest 2% GMP suggests a stable rather than speculative debut. The combination of strong subscription interest, improving profitability and broad industry exposure positions Neochem Bio for steady investor attention as it enters the public market.