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Indian Emulsifier IPO
Price Band
₹125.0–132.0
Issue Size
₹42.39 Cr
Lot Size
1,000 shares
Min Investment
₹132,000
GMP
+₹240.0 (181.82%)
Issue Price
₹132.0
Subject to Sauda
₹182400
Paid only if allotted
Indian Emulsifier IPO AI Summary
- Indian Emulsifier IPO is listed on NSE SME in the Specialty Chemicals sector.
- Price band: ₹125.0–₹132.0 per share, lot size 1,000 shares (min. investment ₹132,000).
- Subscription window: 13 May–16 May 2024, listing on 22 May 2024.
- Current GMP is +₹240.0 (181.82%), an estimated listing price of ₹372 — unofficial and can change daily.
Indian Emulsifier Limited is entering the market with a focus on specialty chemicals, showing growth in revenue and profitability. The IPO aims to raise funds for capital expenditure and working capital, with a significant expected listing gain based on current GMP.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Indian Emulsifier IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 16 May 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Indian Emulsifier IPO Grey Market Premium (GMP) Today
GMP
+₹240.0
GMP %
+181.82%
Est. Listing
₹372.0
Updated: 25 Jul 2026 14:05
About the Company
Incorporated in December 2020, Indian Emulsifier Limited is a manufacturer and supplier of Specialty Chemicals i.e., Esters, Amphoterics, Phosphate Esters, Imidazolines, Wax Emulsions, SMO & PIBSA Emulsifiers. The product line of the company includes the following Esters Amphoteric Phosphate esters Imidazolines Wax emulsions SMO & PIBSA Emulsifiers The Company supplies specialty chemicals to a wide range of industries, including Mining, Textile, Cleaning, PVC/Rubber, Personal Care, Food, and others. Indian Emulsifier Limited offers over 40 speciality chemicals and intermediates for various industries such as mining, textile, cleaning, PVC/rubber, personal care, and food. The Company is as ISO 9001:2015 certified company. The company operates a manufacturing plant located in Ratnagiri, Maharashtra. The facility has a production capacity of 4,800 metric tons per annum, which has been increased from 2,400 MT per annum by the installation of additional reactors. The plant is equipped with process control, an innovative R&D center, quality control, and application laboratories. The company has two warehouses one situated in Raigad, Maharashtra and the second one in Ratnagiri Maharashtra. As of December 31, 2023, the company has 34 full-time employees, including key managerial personnel.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 61.77 | 34.32 | 19.10 | 0.60 |
| Total Income | 48.70 | 41.18 | 17.68 | |
| Profit After Tax | 6.75 | 3.89 | 0.04 | -0.00 |
| NET Worth | 26.36 | 12.04 | 8.15 | 0.01 |
| Reserves and Surplus | 17.35 | 3.93 | 0.04 | -0.00 |
| Total Borrowing | 22.44 | 20.30 | 10.69 | 0.59 |
Key Ratios
EPS
₹4.32
NAV
₹29.26
ROE
25.61%
ROCE
38.03%
RoNW
25.60%
P/B Value
4.51
P/E Ratio
30.54
Market Cap
₹161.33 Cr
PAT Margin
13.87%
Debt/Equity
0.51
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Fineotex Chemical Ltd. | 24.34 | 19.3% | 79.57 | 4.7 |
| Fine Organic Industries Ltd | 99.29 | 38.8% | 22.84 | 192.63 |
| Indian Emulsifier Limited This IPO | 14.85 | 32.34% | — | 6.48 |
Promoters
Yash Tikekar
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of capital expenditure requirements of the Company towards purchase of Plant & Machinery, Civil work and installation cost thereon 20.92 2 Funding Working Capital Requirements of the Company 8.50 3 General Corporate Purposes 9.79
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹41.18 Cr for the period ending 31 Mar 2023, rising to ₹48.70 Cr by 31 Dec 2023. This shows a positive trend in revenue generation.
Profit Trend
Profit After Tax increased from ₹3.89 Cr for the period ending 31 Mar 2023 to ₹6.75 Cr by 31 Dec 2023. This indicates a growth in profitability.
Valuation
Indian Emulsifier Limited has an implied P/E ratio of approximately 30.54 at the issue price of ₹132.0, compared to peers trading at P/E ratios ranging from 22.84 to 79.57.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the demand for the shares in the grey market before they are officially listed. A high GMP suggests strong demand and potential for listing gains.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as market conditions and company fundamentals.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs in the specialty chemicals sector, as they can be subject to market fluctuations and operational risks.
IPO Timeline, Explained
The IPO opens for subscription on May 13, 2024, and closes on May 16, 2024. Allotment of shares will be done on May 17, 2024, with the listing date set for May 22, 2024.
Listing Gains — The Risk
While many investors hope for quick profits on the listing day, it is important to remember that listing gains are not guaranteed. Market conditions and investor sentiment can greatly influence the actual listing price.
This evaluation is generated from Indian Emulsifier's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Indian Emulsifier IPO GMP today?
Indian Emulsifier IPO GMP today is +₹240.0 (181.82%), indicating an estimated listing price of ₹372. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Indian Emulsifier IPO?
The price band of Indian Emulsifier IPO is ₹125.0–₹132.0 per share.
When does Indian Emulsifier IPO open and close?
Indian Emulsifier IPO opens on 13 May 2024 and closes on 16 May 2024.
When does Indian Emulsifier IPO list on the stock exchange?
Indian Emulsifier IPO listed on 22 May 2024 at ₹372.0.
What is the lot size for Indian Emulsifier IPO?
The lot size for Indian Emulsifier IPO is 1000 shares, requiring a minimum investment of ₹132,000.
What is the price band for the IPO?
The price band for the IPO is ₹125.0 to ₹132.0.
What is the minimum investment required?
The minimum investment required is ₹132,000.
What is the lot size for the IPO?
The lot size for the IPO is 1,000 shares.
When is the listing date for the shares?
The listing date for the shares is May 22, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which the shares might list compared to the issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
13 May 2024
Close
16 May 2024
Allotment
17 May 2024
Listing
22 May 2024
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