Chemkart India Limited is a Mumbai-based company offering nutritional, health, and sports supplements across seven categories: Amino Acids, Health Supplements, Herbal Extracts, Nucleotide, Protein, Sports Nutrition, and Vitamins.

Their business model addresses both nutritional value and health benefits, making them a prominent supplier in India's nutraceutical space.

Company Profile

• Location: Mumbai

• Product Range: 7 major categories catering to health-conscious consumers

• Client Need: Nutritional + Health benefits

Strength: Single-window access to diversified nutraceutical products.

Promoters & Management

Chemkart India is promoted by:

• Ankit Shailesh Mehta (first-generation entrepreneur with ~4 years industry experience)

• Parul Shailesh Mehta (~9 years industry experience)

• Shailesh Vinodrai Mehta

The promoters actively manage daily operations, leveraging their niche knowledge in nutraceuticals.

IPO Details

Issue Structure & Intermediaries

• Book Running Lead Manager: Smart Horizon Capital Advisors Pvt Ltd

• Registrar: Bigshare Services Pvt Ltd

• Market Maker: Alacrity Securities Ltd

Note: Heavy Fresh Issue component means most proceeds go to growth capital rather than just exits.

Financial Performance (₹ in Lakhs)

Growth: 55% revenue growth (FY24 to FY25) and strong profit scaling.

Key Ratios

Verdict: Attractive profitability metrics, suggesting fair valuation.

Grey Market Premium (GMP)

• Current GMP: ₹22

• Approximate Listing Gain: 8.87%

While GMP is purely indicative, it suggests moderate listing premium potential.

Strengths

✅ Diverse and growing nutraceutical portfolio
✅ Significant revenue and PAT growth
✅ Reasonable valuation vs. sector peers
✅ High ROE and ROCE

Concerns

⚠️ High retail ticket size (₹2.83 lakh minimum) limits accessibility
⚠️ OFS component indicates partial promoter exit
⚠️ Early-stage promoter experience (<10 years)
⚠️ SME IPO segment is generally riskier, with low liquidity

GMP Insights

GMP ₹22 suggests ~8.87% listing upside over upper band (₹248).
While modest, it indicates some appetite in grey market, but not red-hot demand.

Recommendation

✅ For Risk-Tolerant Investors: "APPLY for listing gain" — fair valuation and healthy growth story.
❌ For Conservative Investors: Avoid due to high ticket size, SME liquidity risk, and moderate GMP.

Final Verdict

Chemkart India IPO is a fairly valued growth play in the nutraceutical space. With healthy financials and ~9–12x P/E, it's better priced than many SME peers.

But retail investors must be mindful of:

• Large minimum investment requirement

• SME platform’s liquidity challenges

• Only modest GMP upside

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  Disclaimer:

  This article is intended for informational and educational purposes only and does not constitute investment advice. Readers are advised to consult their financial advisor before making any investment decisions. Investments in securities are subject to market risks. Please read all related documents carefully before applying for the IPO. The data provided is based on publicly available information and may be subject to change.

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