Biopol Chemicals Ltd IPO
Chemicals
Price Band
₹102 – ₹108
Lot Size
1200
Minimum Bid Quantity
2400
Minimum Investment
₹259200
Issue Size
₹31.26Cr
Opens
2026-02-06
Closes
2026-02-10
Listing
13-02-2026
Subscription Status
Qualified Institutional Buyers
21.05 x
Non-Institutional Investor
21.55 x
Retail Individual Investor
19.88 x
Total
20.87 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE0XW001014
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Biopol Chemicals is engaged in the trading, manufacturing, and distribution of speciality chemicals across the categories of silicones, emulsifiers, biochemicals, and polyelectrolytes. The company’s product portfolio comprises 66 products: 40 silicone-based, 5 emulsifier-based, 15 biochemical, and 6 polyelectrolyte. These products are used in applications such as softeners, emulsions, and hardeners for textiles; silicone fluids and cleaning chemicals for home care; silicone adjuvants and surfactants for agriculture; and release agents for industrial chemicals. Biopol Chemicals also provides technical consultancy services related to the application of speciality chemicals in textile processing, dye manufacturing, and industrial formulations. The company operates on a business-to-business (B2B) model and serves institutional clients through direct sales and a distributor network in domestic and international markets. As of December 31, 2025, the company had four establishments in Gujarat and West Bengal, including a manufacturing unit, corporate office, and warehouse in West Bengal, and a registered office in Gujarat.
Pros
- • The company claims to have a confirmed order book of approximately Rs 13.31 crore as of January 16, 2026, based on purchase orders from domestic and international customers. It states that its typical execution cycle ranges from one to three months, depending on product type, order size, and customer requirements. The order book includes products across different categories and geographic regions, indicating a diversified customer base.
- • Biopol Chemicals claims to operate a manufacturing unit in Agarpara, West Bengal, with an installed capacity of 18,25,000 litres per annum. The facility is stated to be equipped with reactors, mixers, homogenisers, blenders, and other process equipment for producing speciality chemical products. It also claims to have a quality control laboratory and a functional team structure covering production, quality control, maintenance, procurement, packaging, and dispatch.
- • The company is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 certified for environmental management systems, and ISO 45001:2018 certified for occupational health & safety management.
Cons
- • The textile industry accounted for 62.71 percent, 84.60 percent, 78.43 percent and 74.81 percent of the company’s revenue for the period ended December 31, 2025; FY25; FY24 and FY23, respectively. The company’s specialty chemicals are used primarily in textile applications such as softeners, emulsions, hydrophilic finishes, hardeners, binders, and dyeing and printing auxiliaries. Any adverse developments in the textile industry, including changes in consumer demand, regulatory restrictions, trade policies, or raw material price volatility, could affect the company’s business, financial condition, results of operations, and cash flows.
- • West Bengal accounted for Rs 42.77 crore (87.56 percent) of the company’s revenue for the period ended December 31, 2025; Rs 30.07 crore (61.21 percent) in FY25; Rs 3.57 crore (14.04 percent) in FY24 and Rs 4.73 crore (24.49 percent) in FY23. Any adverse economic, political, regulatory, or trade-related developments in this region could affect the company’s business, financial condition, results of operations, and cash flows.
- • The top supplier accounted for Rs 25.92 crore (58.93 percent) of the company’s total purchases for the period ended December 31, 2025; Rs 18.12 crore (39.44 percent) in FY25; Rs 5.98 crore (23.46 percent) in FY24 and Rs 8.36 crore (59.44 percent) in FY23.Any disruption in supplies, changes in pricing, quality failures, or the loss of this key vendor could adversely affect the company’s production schedules, operational efficiency, costs, and margins.
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