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Renol Polychem Ltd IPO
Renol Polychem Ltd IPO is a book-built issue with an offer of around ₹25.77 crores by way of a fresh issue of 24,54,000 equity shares. The price range is placed at ₹100-₹105 per share. The IPO is to be subscribed publicly between 31st July 2025 and 4th August 2025. The retail investors will be required to apply for a minimum lot of 2,400 shares, which will be the equivalent of ₹2,52,000 at the higher price band. Allotment will be completed on 5th August 2025 and the refund process will commence on 6th August 2025, with the shares likely to be listed on the NSE SME platform on 7th August 2025. This IPO is not an offer for sale; rather, it is a pure fresh issue IPO. This will be utilized to finance company objectives and corporate expansion.
Company Background
Renol Polychem Limited is a leading manufacturer of color and additive masterbatches, filler granules, anti-moisture powder, pigments and polymer compounds under the brand name RENOL. The company was founded in 2008 and is based in Rajkot, Gujarat. The firm has a wide base of B2B customers in the UPVC and CPVC pipe and fittings industry with emphasis on customisation and quality through strong process control and technical expertise. In January 2024, Renol Polychem converted to a private limited company and in June 2024, it was converted to a public limited company.
Operations & Product Range
Facility and Production
The main business activity is the production of color masterbatches, filler masterbatches, anti-moisture powders, carbon noodles, superpack additives and other solutions specific to the plastic industry. The facilities of the company focus on quality control that is strict to meet the changing demands of manufacturers in the plastic and allied industries. The market presence and the scale of operations of Renol are supported by the continuous investment in production capacity and the latest compounding technologies.
Brand and Market Presence
Renol Polychem is well established in the market of masterbatches and polymer additives with a history of reliable product quality and technical support. Its brand RENOL is well known in the plastics manufacturing centers in India. As the number of clients increases and the order book stands at approximately 582.14 lakh in May 2025, Renol Polychem is still growing both locally and globally.
Revenue Channels
The main sources of revenue of Renol Polychem Ltd IPO are:
- • The sale of color and additive masterbatches, fillers and specialty polymer products to commercial manufacturers.
- • Long-term supply contracts with major B2B customers in the UPVC/CPVC business.
- • Tailored services and value-added products for industrial customers.
Management & Shareholding
Promoters and Shareholders
Mr. Bhaveshbhai Mansukhbhai Harsoda and Mr. Naitik Bhaveshbhai Harshoda are the promoters of Renol Polychem Ltd. The pre-issue promoter holding was 99.99% and this will be diluted to around 69.11% after the listing and this will still leave the founding group with strong strategic control.
Board Members
The board includes the above promoters, with experienced professionals to guide technical production, finance and governance, as required by the regulations of listed SMEs.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Renol Polychem Ltd IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Renol Polychem Ltd IPO Details
| Detail | Description |
|---|---|
| IPO Date | July 31, 2025 to August 4, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹100 to ₹105 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 24,54,000 shares (aggregating up to ₹25.77 Cr) |
| Reserved for Market Maker | 1,48,800 shares (aggregating up to ₹1.56 Cr) |
| Net Offered to Public | 23,05,200 shares (aggregating up to ₹24.20 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 54,90,000 shares |
| Share Holding Post Issue | 79,44,000 shares |
Renol Polychem Ltd IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Thu, Jul 31, 2025 |
| IPO Close Date | Mon, Aug 4, 2025 |
| Tentative Allotment | Tue, Aug 5, 2025 |
| Initiation of Refunds | Wed, Aug 6, 2025 |
| Credit of Shares to Demat | Wed, Aug 6, 2025 |
| Tentative Listing Date | Thu, Aug 7, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 4, 2025 |
Renol Polychem Ltd IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,52,000 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,52,000 |
| S-HNI (Min) | 3 | 3,600 | ₹3,78,000 |
| S-HNI (Max) | 7 | 8,400 | ₹8,82,000 |
| B-HNI (Min) | 8 | 9,600 | ₹10,08,000 |
Renol Polychem IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,48,800 (6.06%) |
| QIB Shares Offered | 6,40,800 |
| Retail Shares Offered | 13,15,200 (53.59%) |
| NII (HNI) Shares Offered | 3,49,200 (14.23%) |
| Total Shares Offered | 24,54,000 (100.00%) |
Renol Polychem Ltd IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 99.99% | 69.11% |
Competitive Strength:
- ● Over 15 years of expertise in the manufacturing of plastic additives and master batches.
- ● Strict quality assurance and technical expertise.
- ● Good market share in the home country, particularly in the manufacture of UPVC/CPVC.
- ● Stable business development in terms of a healthy order book and financial performance.
- ● Adaptable to the expansion of product lines and to industrial demand fluctuations.
Renol Polychem Ltd IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 May 2025 | 25.86 | 12.02 | 1.14 | 14.47 | 5.28 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 23 | 63 | 5 | 13 | 6.95 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 15.49 | 6.52 | 1.53 | 8.69 | 2.58 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 10.28 | 41.86 | 0.73 | 2.71 | 5.36 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 45.37% |
| ROCE | 64.18% |
| Debt/Equity | 0.52 |
| RoNW | 45.37% |
| PAT Margin | 8.02% |
| EBITDA Margin | 11.36% |
| Price to Book Value | 4.32 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 9.1 | 9 |
| P/E (x) | 11.54 | 12 |
Objectives of Renol Polychem Ltd IPO
-
The money obtained from the Renol Polychem Ltd IPO will be used for:
- 1. New machinery and technology upgrades.
- 2. Meeting working capital needs.
- 3. Business development & general corporate purpose.
- 4. Partial repayment or prepayment of certain company borrowings
Renol Polychem Ltd IPO Review
Renol Polychem Ltd IPO is an opportunity to invest in a well-established player in the Indian plastics additives industry. The company has a strong revenue growth, product diversification and a good operational track record and it looks forward to capitalizing on the increasing demand for quality masterbatches and polymer solutions. The problem can be of interest to investors who want to gain exposure to the Indian manufacturing and chemical growth story, with the caveat that the minimum size of high-ticket applications is needed for retail investors.
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Frequently asked Questions (FAQs )
-
What is the industry of Renol Polychem Ltd IPO?
Renol Polychem Ltd is a company that deals with the manufacturing of plastics additives, which include masterbatch and polymer compounds.
-
What are the main applications of the products of Renol Polychem Ltd?
They supply color and functional additives to manufacture UPVC and CPVC pipes and fittings.
-
What will Renol Polychem Ltd use the IPO funds for?
The proceeds will be used in machinery upgrading, working capital, business expansion and repayment of existing borrowings.
-
What is the minimum investment amount required of a retail investor?
The retail investors will have to apply a minimum of 2,400 shares, which translates to approximately 2,52,000 at the higher price band.
