Mumbai-based Renol Polychem Ltd has opened its ₹29.99 crore initial public offering (IPO) for subscription on July 29, 2025. The NSE SME-bound issue comes with a price band of ₹64 to ₹66 per share, drawing investor interest with a grey market premium of 12%. The IPO aims to raise funds primarily for working capital and corporate needs.
Renol Polychem Ltd, headquartered in Mumbai, Maharashtra, operates in the specialty chemicals and polymer compounding industry. The company specializes in the manufacturing of a diverse range of PVC, TPR, and PP compounds, which are used across multiple industrial segments such as automotive, footwear, electronics, consumer goods, and electrical components. Renol Polychem provides customized solutions and has developed a reputation for consistency in product quality, catering to both domestic and international markets.
With an integrated facility and a team of technical experts, the company focuses on innovative formulations and process-driven manufacturing to meet varied customer specifications. The company has shown steady growth over the past few years, both in terms of revenue and profit margins, reflecting operational efficiency and strong market demand.
IPO Details:
- IPO Open Date: July 29, 2025
- IPO Close Date: July 31, 2025
- Total Issue Size: ₹29.99 crore
- Issue Type: Book-Built Issue (NSE SME)
- Fresh Issue: Entire ₹29.99 crore (No Offer for Sale)
- Price Band: ₹64 to ₹66 per share
- Face Value: ₹10 per share
- Lot Size: 2,000 shares
- Minimum Investment (Retail): ₹1,32,000
- Minimum Investment (HNI): ₹2,64,000 (2 lots)
- Listing Platform: NSE SME
- Tentative Listing Date: August 5, 2025
- Lead Manager: Corporate Makers Capital Ltd
- Registrar to the Issue: Skyline Financial Services Private Limited
- Market Maker: Asnani Stock Broker Private Limited
Financial Overview:
Renol Polychem has demonstrated a positive financial trajectory in recent years. While official FY25 numbers are yet to be published, the company’s profitability and revenue growth in FY24 and FY23 signal a strong balance sheet. With no offer for sale component, the entire IPO proceeds will directly benefit the company’s business objectives.
Utilization of IPO Proceeds:
The company intends to deploy the net proceeds as follows:
- Working Capital Requirements: To support the scale-up of raw material procurement and production.
- General Corporate Purposes: Strengthening business operations and addressing routine corporate needs.
- IPO Expenses: Allocation towards administrative and listing-related costs.
Investor Outlook:
With a grey market premium (GMP) reported around 12%, the IPO has attracted attention among retail and HNI investors. The competitive price band, absence of offer for sale, and dedicated use of proceeds toward business growth enhance its attractiveness. Subscription data over the next two days will provide greater clarity on market reception.
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