Biopol Chemicals, and PAN HR Solution will finalise their IPO share allotment by February 11, while their equity shares will be available for trading on the NSE Emerge and BSE SME, respectively, with effect from February 13.

Biopol Chemicals IPO subscribed over 21 times, PAN HR Solution offer sees 9.5x subscription on final day

Specialty Chemicals and Manpower Solution Companies See Strong Interest in IPOs

Specialty chemicals company Biopol Chemicals and manpower solutions provider PAN HR Solution have seen significant interest in their initial public offerings (IPOs), with Biopol Chemicals receiving a subscription of 21.22 times and PAN HR Solution receiving a subscription of 9.51 times on the final day of bidding, February 10.

Biopol Chemicals IPO Details

Biopol Chemicals received bids for 6.14 crore equity shares during February 6-10 against an offer size of 28.94 lakh shares via 12,276 applications.
The demand was strong from across categories of investors with non-institutional investors bidding 24.62 times their allotted quota, while the parts set aside for qualified institutional buyers, and retail investors were subscribed 21.05 times, and 20.8 times, respectively.

Biopol Chemicals, which manufactures specialty chemicals under the categories of silicones, emulsifiers, biochemicals, and polyelectrolytes for textiles, home care, agriculture, and industrial chemicals, is raising Rs 31.26 crore via IPO. The price band for the offer is Rs 102-108 per share.

The company will utilise the IPO proceeds for various purposes, including:

Acquisition of industrial land for Rs 12.3 crore
Repaying debt for Rs 11.1 crore
General corporate purposes for the remainder funds

PAN HR Solution IPO Details

PAN HR Solution has attracted 1.56 crore shares bid in three days against the offer size of 16.46 lakh shares via 2,511 applications.
Non-institutional investors were at the forefront to support the IPO, bidding 11.25 times their reserved portion, followed by retail and qualified institutional buyers whose parts were booked 9.4 times, and 6.57 times, respectively.

PAN HR Solution, which operates on a business-to-business (B2B) model, catering to institutional clients, will utilise the fresh issue proceeds for its working capital requirements and general corporate purposes.

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