Renol Polychem, one of India’s fastest-growing manufacturers of Masterbatches, has launched its Initial Public Offering (IPO) to raise ₹25.76 Crores. The subscription window opens on July 31, 2025, and closes on August 04, 2025. This book-built issue comprises entirely a fresh issue of 24.54 lakh equity shares, with no offer-for-sale component.

Renol Polychem, based in Rajkot, Gujarat, leverages its strategic location for efficient logistics and raw material procurement, placing it in a strong competitive position in the Indian plastics additive industry.

IPO Details and Structure:

The price band for the IPO is set between ₹100 to ₹105 per equity share, with the company aiming for a market capitalisation of ₹83.41 Crores at the upper end. The lot size is fixed at 1,200 shares, and investors must subscribe to a minimum of 2 lots, translating into 2,400 shares and a minimum investment of ₹2,52,000.

Corporate Makers Capital Limited is acting as the Book Running Lead Manager (BRLM), while Skyline Financial Services Pvt. Ltd. is the registrar. Asnani Stock Broker Pvt. Ltd. is designated as the market maker.

Renol Polychem IPO GMP Today:

As of July 31, 2025, the Grey Market Premium (GMP) for the Renol Polychem IPO stands at ₹6 per share, suggesting an expected listing price of ₹111, which indicates a 5.71% premium over the issue price. However, it is important to note that GMP is unofficial and unregulated, and should not be treated as a reliable indicator for investment decisions.

Live Subscription Status:

As of 11:30 AM on July 31, 2025, the IPO has been subscribed 0.38 times on Day 1. Investors are advised to track the live subscription status on the NSE SME portal for the latest updates.

Anchor Investor Allocation:

Renol Polychem has successfully raised ₹25.76 Crores from anchor investors by allocating 24,54,000 equity shares at ₹105 per share. The anchor book was closed prior to the opening of the issue, offering confidence to potential investors.

Note: Anchor allocations are made from the QIB (Qualified Institutional Buyers) portion.

Day-Wise GMP Trend:

IPO Allotment – How to Check:

Renol Polychem IPO allotment date is August 05, 2025 (Tuesday). Allotment status will be made live on the registrar’s website. Here's how investors can check:

1. Visit the IPO allotment page.

2. Select “Renol Polychem IPO” from the dropdown.

3. Enter PAN, Application Number, or DP Client ID.

4. Click Submit to view status.

Utilisation of Net Proceeds:

The company aims to use the IPO proceeds for the following purposes:

1. ₹560 Lakh for Capital Expenditure to purchase new machinery.

2. ₹100 Lakh for repayment of certain borrowings.

3. ₹1,515 Lakh for Working Capital Requirements.

4. Balance funds for General Corporate Purposes.

Company Overview & Financial Performance:

Renol Polychem is promoted by Mr. Bhaveshbhai Mansukhbhai Harsoda (Managing Director) and Mr. Naitik Bhaveshbhai Harsoda (Executive Director). The promoters have 15+ years and 4 years of industry experience, respectively.

Revenue from operations has grown significantly:

• FY 2022–23: ₹4,185.74 Lakh

• FY 2023–24: ₹652.31 Lakh

• FY 2024–25: ₹6,256.23 Lakh

EBITDA:

• FY 2023: ₹137.21 Lakh

• FY 2024: ₹230.05 Lakh

• FY 2025: ₹740.59 Lakh

PAT:

• FY 2023: ₹72.81 Lakh

• FY 2024: ₹153.39 Lakh

• FY 2025: ₹499.68 Lakh

The EPS (pre-issue) is ₹9.10 and post-issue is ₹6.29. At the issue price of ₹105, the P/E ratio stands at 11.53x (pre-issue) and 16.69x (post-issue). Return on Capital Employed (ROCE) is a robust 64.18%, and Return on Net Worth (RoNW) is 45.37%.

IPO Review – Avoid for Listing Gains:

While the company shows strong financial growth, the valuation appears moderate, and the limited GMP of ₹6 suggests marginal listing gains. Considering this, investors may avoid this IPO purely for listing benefits, but long-term fundamentals appear promising.

Disclaimer:

This article is for educational and informational purposes only. It should not be considered investment advice. Investment in securities is subject to market risks. Please consult a SEBI-registered financial advisor before making investment decisions.

The Upcoming IPOs in this week and coming weeks are BLT Logistics, Bhadora Industries, Highway Infrastructure, Flysbs Aviation, Parth Electricals & Engineering, Jyoti Global Plast, Essex Marine, Aaradhya Disposal Industries.

The Current active IPO are Cash Ur Drive Marketing, Renol Polychem, B.D. Industries (Pune), NSDL, Takyon Networks, Mehul Colours, M&B Engineering, Sri Lotus Developers & Realty, Aditya Infotech, Lakshmi India Finance, Kaytex Fabrics.

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