Biopol Chemicals SME IPO listing: Biopol Chemicals shares listed at a minor premium over its issue price on Friday, February 13. Biopol Chemicals’ share price opened at ₹111 on the NSE on February 13, up 2.78% from its issue price of ₹108. The SME stock, however, quickly erased all gains and hit its 5% lower circuit of ₹105.45.
Market participants noted that the stock’s listing was slightly above expectations in the gray market. Biopol Chemicals’ last grey-market premium (GMP) was ₹1, suggesting the stock could have listed at ₹109.
Around 10:05 am, the SME stock was down 2.36% from its issue price, locked at the lower circuit of ₹105.45.
Biopol Chemicals IPO details
The SME IPO opened for public subscription on Friday, February 6, and concluded on Tuesday, February 10, with an overall subscription of over 20 times.
The book build issue of 28,94,400 shares was priced at ₹108 per share, aimed at raising ₹31.26 crore.
Smart Horizon Capital Advisors Private Limited was the book-running lead manager, while Bigshare Services Private Limited was the registrar of the Biopol Chemicals IPO.
Share allotment was likely finalized on Wednesday, February 11, and successful bidders received shares in their demat accounts on Thursday, February 12.
Biopol Chemicals is engaged in the business of trading, manufacturing and distribution of specialty chemicals under the categories of silicones, emulsifiers, biochemicals and polyelectrolytes.
The company’s revenue from operations for FY23 stood at ₹19.32 crore, which rose to ₹25.47 crore in FY24, and to ₹49.13 crore in FY25.
Profit after tax (PAT) for FY23 was ₹0.53 crore. For FY24, it was ₹2.96 crore, and ₹4.33 crore in FY25.
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