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Renol Polychem IPO
Price Band
₹100.0–105.0
Issue Size
₹25.77 Cr
Lot Size
1,200 shares
Min Investment
₹252,000
2 LOTS MIN
GMP
+₹3.0 (2.86%)
Issue Price
₹105.0
Subject to Sauda
₹2700
Paid only if allotted
Renol Polychem IPO AI Summary
- Renol Polychem IPO is listed on NSE SME in the Specialty Chemicals sector.
- Price band: ₹100.0–₹105.0 per share, lot size 1,200 shares (min. investment ₹252,000, 2 lots minimum).
- Subscription window: 31 Jul–04 Aug 2025, listing on 07 Aug 2025.
- Current GMP is +₹3.0 (2.86%), an estimated listing price of ₹108 — unofficial and can change daily.
Renol Polychem Limited is set to offer its IPO with a focus on expanding its manufacturing capabilities and addressing working capital needs. With a diverse product range and strong management, the company aims to enhance its position in the specialty chemicals sector.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Renol Polychem IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 04 Aug 2025 — 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
Renol Polychem IPO Grey Market Premium (GMP) Today
GMP
+₹3.0
GMP %
+2.86%
Est. Listing
₹108.0
Updated: 25 Jul 2026 14:13
About the Company
Incorporated in 2008, Renol Polychem Limited is a manufacturer and supplier specializing in colour masterbatches, plastic masterbatches, industrial chemicals, impact modifiers, plastic pigments, and more. Their product range includes various color masterbatches such as green, red, yellow, orange, pink, blue, brown, violet, ivory, white, maroon, silver, multicolor, and black, as well as transparent plastic filler masterbatches. The company offers all-in-one additives, including stabilisers, impact modifiers, and colour pigments, to assist manufacturers of UPVC, CPVC pipes, pipe fittings, and other plastic products. Renol Polychem Limited offers a wide variety of masterbatches and polymer solutions, including: Colour Masterbatches Green, Red, Yellow, Orange, Pink, Blue, Brown, Violet, Ivory, White, Maroon, Silver, Multicolor, and Black Masterbatches. Specially formulated masterbatches for plastic moulding, extrusion, and film applications. Filler Masterbatches Transparent Plastic Filler Masterbatches Talc and Calcium Carbonate-based filler masterbatches for improving cost efficiency and mechanical properties in plastic production. Additive Masterbatches UV Stabilizers Antioxidants Slip & Anti-block Agents Processing Aids Flame Retardants. Polymer Compounds & Pigments High-performance plastic pigments Polymer modifiers to enhance strength, flexibility, and durability. The company's products find application in industries such as plastic packaging (flexible and rigid), Automotive Components, Household & Consumer Goods, Electrical & Electronics, Textiles & Fibers and Agricultural Films & Pipes. As of September 30, 2024, the company had 15 employees in various departments. Competitive Strength: Rich management experience. Diversified product range appealing to a wide range of customers. Cordial relationship with the customers/ vendors and established manufacturing facility.
Company Financials (₹ Cr)
As of 2025-05-31
| Period Ended | 31 May 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 25.86 | 23.41 | 15.49 | 10.28 |
| Total Income | 12.02 | 62.56 | 6.52 | 41.86 |
| Profit After Tax | 1.14 | 5.00 | 1.53 | 0.73 |
| EBITDA | 1.60 | 7.07 | 2.18 | 1.14 |
| NET Worth | 14.47 | 13.33 | 8.69 | 2.71 |
| Reserves and Surplus | 8.98 | 7.84 | 3.20 | |
| Total Borrowing | 5.28 | 6.95 | 2.58 | 5.36 |
Key Ratios
EPS
₹9.10
NAV
₹24.28
ROE
45.37%
ROCE
64.18%
RoNW
45.37%
P/B Value
4.32
P/E Ratio
11.54
Market Cap
₹83.41 Cr
PAT Margin
8.02%
Debt/Equity
0.52
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| R M Drip and Sprinklers Systems | 32 | 41.45% | 63.69 | 9.58 | 9.58 |
| Captain Polyplast | 25.5 | 25.4% | 15.07 | 5.28 | 5.28 |
| Multibase India | 62.21 | 13.76% | 23.85 | 11.61 | 11.61 |
| Renol Polychem This IPO | 24.28 | 45.37% | — | 9.1 | 9.1 |
Promoters
Bhaveshbhai Mansukhbhai Harsoda and Naitik Bhaveshbhai Harshoda
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 Capital Expenditure in requirements for the purchase of Machinery 5.60 2 Repayment of certain borrowings 1.00 3 To meet out the Working Capital Requirements 15.15 4 General Corporate Purposes 0.96 5 Issue Expenses 3.06 Total 25.77
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹41.86 Cr in the period ending 31 Mar 2023, rising to ₹6.52 Cr by 31 Mar 2024. However, income increased significantly to ₹62.56 Cr by 31 Mar 2025, before dropping to ₹12.02 Cr in the latest period ending 31 May 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹0.73 Cr in the period ending 31 Mar 2023, increasing to ₹1.53 Cr by 31 Mar 2024. This rose further to ₹5.00 Cr by 31 Mar 2025, but then decreased to ₹1.14 Cr in the latest period ending 31 May 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Priced at a P/E ratio of 11.54 at the issue price of ₹105.0, this is lower than peers such as R M Drip and Sprinklers Systems, which trades at a P/E of 63.69, and Captain Polyplast at 15.07.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price. A positive GMP suggests that the stock may list at a higher price than the issue price, reflecting demand in the grey market.
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 the company's fundamentals and market conditions.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid this IPO, as it involves exposure to the uncertainties of a growing company in the specialty chemicals sector.
IPO Timeline, Explained
The IPO opens for subscription on July 31, 2025, and closes on August 4, 2025. Allotment of shares will be done on August 5, 2025, and the shares are expected to be listed on the stock exchange on August 7, 2025.
Listing Gains — The Risk
While many investors hope for listing gains, these can be unpredictable. Factors such as market conditions and investor sentiment can significantly affect the stock's performance on its debut day.
This evaluation is generated from Renol Polychem'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 Renol Polychem IPO GMP today?
Renol Polychem IPO GMP today is +₹3.0 (2.86%), indicating an estimated listing price of ₹108. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Renol Polychem IPO?
The price band of Renol Polychem IPO is ₹100.0–₹105.0 per share.
When does Renol Polychem IPO open and close?
Renol Polychem IPO opens on 31 July 2025 and closes on 04 August 2025.
When does Renol Polychem IPO list on the stock exchange?
Renol Polychem IPO listed on 07 August 2025 at ₹108.0.
What is the lot size for Renol Polychem IPO?
The lot size for Renol Polychem IPO is 1200 shares, requiring a minimum investment of ₹252,000 (2 lots).
What is the price band for the IPO?
The price band for the IPO is ₹100.0 to ₹105.0.
What is the minimum investment required?
The minimum investment required is ₹252,000.
What is the lot size for the IPO?
The lot size for the IPO is 1200 shares.
When is the listing date?
The listing date is expected to be August 7, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount of the stock's listing price compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
31 Jul 2025
Close
04 Aug 2025
Allotment
05 Aug 2025
Listing
07 Aug 2025
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