Biopol Chemicals IPO overview

Biopol Chemicals manufactures 40+ silicone products, 5 emulsifiers, 15 biochemicals and 6 polyelectrolytes across four facilities in Gujarat and West Bengal, with annual capacity of 18.25 lakh litres. It follows a B2B model serving institutional clients and offers technical consultancy services.

Key IPO details

• IPO open date: February 6, 2026
• IPO close date: February 10, 2026
• Basis of allotment: February 11, 2026
• Refunds & credit to Demat: February 12, 2026
• Listing date: February 13, 2026
• Bidding cut‑off time: February 10, 2026 – 5 PM.
• Face Value :- Rs. 10 per share
• Price Band :- Rs. 102 to Rs 108
• Sale Type :- Fresh Capital
• Total issue size :- Rs 31 crore
• Market cap (pre-ipo) :- Rs 116.70 crore

Market lot and investor reservation

• Minimum market lot: 2,400 shares
• Retail minimum & maximum: 1 lot (2,400 shares) – application amount ₹2,59,200.
• S‑HNI: 3,600–8,400 shares; B‑HNI from 9,600 shares upwards.

Reservation:

• QIB (ex‑anchor): 6,86,400 shares (23.71%)
• NII: 10,94,400 shares (37.81%)
• Retail: 9,62,400 shares (33.25%).

Promoters are Mr. Santanu Sarkar and Mr. Vedant Sarkar; promoter holding moves from 89.88% pre‑issue (79,11,000 shares) to 65.81% post‑issue (1,08,05,400 shares).

Objective of the issue

• Acquisition of industrial land – ₹12.26 crore.
• Repayment/prepayment of borrowings – ₹11.10 crore.
• General corporate purposes.

Financials and valuation snapshot

Biopol has scaled rapidly since inception.

Financials (₹ crore):

Period Ended	31 Dec 2025	31 Mar 2025	31 Mar 2024
Assets	48.88	31.48	17.56
Total Income	48.97	49.15	17.43
Profit After Tax	6.00	4.33	2.96
EBITDA	8.99	6.53	4.43
NET Worth	19.54	13.53	9.20
Reserves and Surplus	11.63	5.62	1.29
Total Borrowing	14.92	7.69	3.58
Amount in ₹ Crore

 

Key FY25 metrics:

• ROE: 38.10%
• ROCE: 30.57%
• EBITDA margin: 13.30%
• PAT margin: 8.81%
• Debt‑equity ratio: 0.57
• EPS (basic): ₹5.47
• RoNW: 32.00%
• NAV: ₹17.10 per share.

Peers: Rossari Biotech (RoNW 15.62%), Fineotex Chemical (19.31%), Indian Emulsifiers (20.01%).

Strengths

• Rapid scaling: Revenue ₹17.43 crore (FY24) to ₹49.15 crore (FY25).
• Diversified specialty chemicals portfolio (silicones, emulsifiers, biochemicals).
• Strong returns: ROE 38.10%, ROCE 30.57%, RoNW 32.00%.
• B2B focus with technical consultancy services.
• 18.25 lakh litre annual capacity across 4 facilities.
• Proceeds strengthen balance sheet (debt repayment).
• High promoter holding post‑issue at 65.81%.

Risks

• Very young company (incorporated 2023).
• SME IPO with debt (debt‑equity 0.57).
• High retail minimum ticket (₹2,59,200).
• Chemical sector input price volatility.
• Competition from established peers like Rossari, Fineotex.
• Execution risk in industrial land acquisition.

• NII heavy allocation (37.81%).

How To Apply for the IPO ?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 
• Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
• Select IPO: Find and select the IPO from the list of open IPOs. 
• Enter the Lot Size: Specify the number of lots you want to bid for. 
• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro app. 
• Go to the IPO Section and then to IPO Orders. 
• Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email

FAQs

Q1. What does Biopol Chemicals manufacture?
Biopol produces silicones (40+ products), emulsifiers (5), biochemicals (15) and polyelectrolytes (6) for textiles, home care, agriculture and industrial uses.

Q2. What are the Biopol Chemicals IPO dates?
Opens February 6, 2026; closes February 10; allotment February 11; listing February 13.

Q3. What is the lot size and minimum investment?
1 lot = 2,400 shares; retail minimum ₹2,59,200.

Q4. How is the issue reserved?
23.71% QIB (ex‑anchor), 37.81% NII, 33.25% retail.

Q5. Who are the promoters?
Mr. Santanu Sarkar and Mr. Vedant Sarkar; post‑issue holding 65.81%.

Q6. What are the objects of the proceeds?
Industrial land acquisition (₹12.26 crore), debt repayment (₹11.10 crore), general purposes.

Q7. How have financials trended?
Revenue doubled from ₹17.43 crore (FY24) to ₹49.15 crore (FY25); PAT ₹2.96 crore to ₹4.33 crore.