Phychem Technologies IPO

The Phychem Technologies SME IPO is open between 31 Aug 2026 and 2 Sept 2026, offered at a price band of ₹51–54 per share, and is set to list on BSE. The IPO seeks to raise ₹14.58 crore. Retail investors bid in lots of 2000 shares, a minimum application of ₹2,16,000.

Issue structure

The IPO is structured entirely as a fresh issue of ₹13.83 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward funding the capital expenditure towards procurement of plant and machinery (₹5.15 crore), alongside issue expenses (₹2.8 crore). In all, 5 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Phychem Technologies reported revenue of ₹57.48 crore and a net profit of ₹4.09 crore. Revenue grew from ₹47.59 crore in FY2024 to ₹57.48 crore in FY2026 (+21.0%). Net worth stood at ₹13.79 crore at the end of FY2026. At the upper band, that puts the issue at roughly 10.0× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 13.53× post-issue earnings and 4.2× book value, against a return on net worth of 29.66% and a debt-to-equity ratio of 0.43. These ratios come from the offer document and are for comparison, not a recommendation.

Promoters

The promoters of the company are <p>Umakant Nivrutti Savadekar, Ulka Umakant Savadekar, Nivrutti Sonu Savdekar, Vijaya Nivrutti Savdekar</p>. Promoter holding stands at 98.55% before the issue and comes down to 72.56% after listing.

Grey market premium (GMP)

In the unofficial grey market, Phychem Technologies shares are quoted at a premium of ₹1 implying an expected listing around ₹55, about +1.9% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Phychem Technologies IPO was subscribed 20.79 times overall. The strongest demand came from non-institutional investors (NII) at 42.41 times, with qualified institutional buyers (QIB) at 4.31× and retail investors at 20.76×.

Listing performance

Phychem Technologies listed on 7 Sept 2026 at ₹56, a premium of +3.7% over the issue price of ₹54.

What to weigh

When evaluating the Phychem Technologies IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Phychem Technologies

Phychem Technologies is engaged in manufacturing rotational molding (roto molding) compounds, which are key raw materials used to produce various hollow plastic products through the rotational molding process. Its products mainly include customized polyethylene-based compounds made from LLDPE, HDPE, and special additives. These are supplied in powder or granule form to manufacturers who make items like water, fuel, and chemical storage tanks, portable toilets, furniture, industrial containers, and other molded plastic parts. The company caters to industries such as construction, water management, agriculture, automotive, and consumer goods. Its product range includes foam, stone-effect, flame-retardant, anti-static, and custom-colored compounds, designed as per client needs. The company also produces custom-molded tanks and offer jobwork services like rotolining (internal tank coating for chemical resistance) and toll pulverizing (custom grinding of polymers). Its manufacturing facility is located at Khatwad, Dindori, Nashik, Maharashtra, equipped with its own laboratory and quality control department. The company is ISO 9001:2015 certified and recognized as a One Star Export House by the Ministry of Commerce and Industry. The company export to several countries including Bahrain, Bangladesh, Iraq, Kuwait, Nigeria, Saudi Arabia, South Africa, Thailand, Turkey, UAE, and many others. Additionally, it earn revenue by distributing imported products and chemicals used in the roto molding industry. It is an authorized distributors of Paints and coatings (UK), Polypropylene compounds (Thailand), Specialty release agents (USA), Process control equipment (Northern Ireland), Plastic welding machines (Canada), and Flash-It ancillary tools (UK). Competitive Strengths Wide range of products finding diverse application in roto moulding industry. Long standing relationships with diversified customers across geographies. In-house manufacturing facility with equipped machines and processes. Focus on Quality, Environment, Health and Safety. Experienced Promoters and Management with extensive domain knowledge.