Neochem Bio Solutions Rs 44.97 crore SME IPO opened on December 2 with a slow start, recording just 0.02 times subscription by mid-morning on Day 1, driven entirely by retail bids. The issue carries a mild GMP of Rs 5, indicating modest listing sentiment. Anchor investors, led by Mukul Agarwals Sanshi Fund with a 39% share, subscribed Rs 12.77 crore ahead of the launch.

backed Neochem Bio Solutions SME IPO opens today. Check subscription status, key dates and other details

Neochem Bio Solutions' Rs 44.97 Crore SME IPO Opens with Slow Start

The SME IPO of Neochem Bio Solutions, which opened for subscription on Monday, December 2, 2025, on the NSE Emerge platform, has seen a slow start, recording a subscription of just 0.02 times by mid-morning on Day 1.

Subscription Status

Against the 32,85,600 equity shares reserved across all categories, only 52,800 shares were bid for.
The overall subscription stood at 0.02 times.
All bids so far have come from the retail individual investor category.

Grey Market Premium (GMP)

The IPO is commanding a grey market premium (GMP) of Rs 5, indicating a potential listing gain of approximately 5.1% over the upper price band of Rs 98 per share.

Anchor Investors and Mukul Agarwal's Participation

The company raised Rs 12.77 crore from anchor investors ahead of the IPO.
Sanshi Fund - I, associated with well-known investor Mukul Agarwal, emerged as the top anchor investor, picking up 5,11,200 shares, or 39.23% of the total anchor book.
Other anchor participants include Finavenue Capital Trust, Mavira Growth Opportunities Fund, 31 Degrees North Fund, Venturex Fund I, Steptrade Revolution Fund, and SB Opportunities Fund II.

About Neochem Bio Solutions

Neochem Bio Solutions is a specialty performance chemical manufacturer operating across four major segments: polymers, surfactants, silicones, and esters/biobased sustainable solutions.

The company operates a 22,000 MTPA manufacturing unit in Ahmedabad and is supported by a distribution network of over 50 distributors, serving 225+ domestic customers and exporting to 12 countries.