Neochem Bio IPO opens for subscription on December 2, 2025, and will close on December 4, 2025. The company aims to raise around ₹44.97 crores through a Book Built IPO, entirely via a fresh issue. The price band is set at ₹93 to ₹98 per share. Allotment is scheduled for December 5, 2025, and the shares will be listed on NSE SME on December 9, 2025.
Neochem Bio has shown significant financial growth, with revenue rising from ₹62.01 crores in 2024 to ₹86.15 crores in 2025. Profit also increased sharply from ₹1.80 crores to ₹7.75 crores during the same period. Based on the strong fundamentals and improving margins, long-term investors may find the IPO attractive.
Contents
Neochem Bio IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | December 2, 2025 |
| IPO Close Date | December 4, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹93 to ₹98 |
| Issue Size | ₹44.97 crores approx |
| Fresh Issue | ₹44.97 crores approx |
| Issue Type | Book Built Issue |
| Listing | NSE SME |
| DRHP | View PDF |
| RHP | View PDF |
Neochem Bio IPO
Open: 2-4 Dec
Issue Size: ₹44.97 Cr.
Objective: Raise fresh capital to meet working-capital needs, repay debt and support general growth.
Exchange: NSE SME
Neochem Bio IPO GMP Today
The Neochem Bio IPO GMP has seen a mixed trend over the past few days, reflecting the cautious mood in the grey market. The premium touched a high of ₹10 on 27th November, followed by a dip to ₹6 on 28th November, and it has mostly stayed around the ₹6–₹9 range since then.
As per the latest data, the GMP stands at ₹6 on 2nd December, indicating a slight softening compared to the previous day. With the IPO opening on 2nd December 2025, investors are watching the grey market movement closely to gauge listing expectations.
Since it is an SME IPO with a price band of ₹93 to ₹98 and a sizeable lot of 2,400 shares, fluctuations in GMP are common. Overall, the grey market premium suggests moderate interest, but final subscription numbers will play a key role in shaping the listing outlook.
Neochem Bio IPO Review
Neochem Bio is a specialty chemicals company that has delivered consistent revenue and profit growth over the last three years. Higher margins in FY2025 and strong return ratios indicate operational efficiency.
The company’s debt-to-equity ratio remains on the higher side, but the IPO proceeds will partly address this. Considering the strong financial uptick, investors looking for long-term exposure to the chemical sector may consider applying.
Neochem Bio IPO Market Lot
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2,400 | ₹2,35,200 |
| Retail Maximum | 2 | 2,400 | ₹2,35,200 |
| S-HNI Minimum | 3 | 3,600 | ₹3,52,800 |
| S-HNI Maximum | 8 | 9,600 | ₹9,40,800 |
| B-HNI Minimum | 9 | 10,800 | ₹10,58,400 |
IPO Reservation
| Investor Category | Shares Offered | % Allocation |
|---|---|---|
| Anchor Investor | – | – |
| QIB | – | 50% |
| NII | – | 15% |
| Retail | – | 35% |
- Also Read: Speb Adhesives IPO
Neochem Bio IPO Anchor Investors
| Particulars | Details |
|---|---|
| Anchor Bidding Date | December 1, 2025 |
| Anchor Investors List | View PDF |
| Shares Offered | To be updated |
| Anchor Size | To be updated |
| Lock-in (50% – 30 days) | 2025 |
| Lock-in (50% – 90 days) | 2025 |
Neochem Bio IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | December 2, 2025 |
| IPO Close Date | December 4, 2025 |
| Basis of Allotment | December 5, 2025 |
| Refunds | December 8, 2025 |
| Credit to Demat | December 8, 2025 |
| Listing Date | December 9, 2025 |
| Bidding Cut-off Time | December 4, 2025 – 5 PM |
Promoters & Shareholding Pattern
| Particulars | Shares | % Holding |
|---|---|---|
| Promoter Holding (Pre-Issue) | 1,25,31,953 | 91.12% |
| Promoter Holding (Post-Issue) | 1,71,20,753 | –% |
Promoters:
Swapnil Rameshbhai Makati and Hemangini Swapnil Dathia.
Objects of the Issue
The company plans to utilise the IPO proceeds to strengthen long-term working capital, which is essential for its expanding operations. A portion will be used for repayment or prepayment of existing borrowings, improving the company’s balance sheet.
The remaining amount will be allocated towards general corporate purposes, helping Neochem Bio enhance overall business efficiency.
About the Neochem Bio Solutions Ltd
Neochem Bio Solutions Ltd is an Ahmedabad-headquartered specialty chemicals company. The firm is promoted by Swapnil Rameshbhai Makati and Hemangini Swapnil Dathia and focuses on the manufacture and sale of chemical products for industrial use.
Over the last three financial years the company has shown steady revenue and profit growth, supporting its expansion plans funded in part by the current SME IPO. For further, definitive details on product lines, manufacturing locations and customers, refer to the company’s RHP or website.
Neochem Bio Financial Report (₹ in Crores)
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹48.79 | ₹47.27 | ₹1.07 | ₹50.60 |
| 2024 | ₹62.01 | ₹59.34 | ₹1.80 | ₹64.06 |
| 2025 | ₹86.15 | ₹75.89 | ₹7.75 | ₹78.89 |
| September 2025 | ₹47.18 | ₹39.85 | ₹5.48 | ₹96.49 |
Neochem Bio IPO Valuation – FY2025
| KPI | Value |
|---|---|
| ROE | 48.82% |
| ROCE | 41.67% |
| EBITDA Margin | 15.58% |
| PAT Margin | 9.00% |
| Debt to Equity | 1.80 |
| EPS (Basic) | ₹6.64 |
| P/E Ratio | N/A |
| RoNW | 48.82% |
| NAV | ₹16.91 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Rossari Biotech Ltd | 24.66 | 26.00 | 5.78% | 226.05 | ₹1,129.82 Cr |
| Indian Emulsifiers Ltd | 11.40 | 8.83 | 11.78% | 75.54 | ₹76.98 Cr |
IPO Lead Manager
Vivro Financial Services Pvt. Ltd.
Company Address
| Field | Details |
|---|---|
| Company | Neochem Bio Solutions Ltd |
| Address | 303, W1, Opp. Vikramnagar Colony, Off Iscon–Ambli Road, Ahmedabad, Gujarat – 380058 |
| Phone | +91 079 35217792 |
| compliance@neochem.in | |
| Website | www.neochem.in |
IPO Registrar
| Field | Details |
|---|---|
| Registrar | MUFG Intime India Pvt. Ltd. |
| Phone | +91-22-4918 6270 |
| neochem.smeipo@in.mpms.mufg.com | |
| Website | in.mpms.mufg.com/Initial_Offer/public-issues.html |
Neochem Bio IPO FAQs
What is Neochem Bio IPO?
Neochem Bio IPO is an SME IPO worth ₹44.97 crores, priced at ₹93 to ₹98 per share, and will be listed on NSE SME.
When will the IPO open?
It opens on December 2, 2025 and closes on December 4, 2025.
What is the investors’ allocation?
QIB: 50%, NII: 15%, Retail: 35%.
How to apply for the IPO?
Investors can apply via ASBA through their banks or UPI through stockbrokers. Offline applications through brokers are also available.
What is the IPO price band?
The price band is ₹93 to ₹98 per share.
What is the allotment date?
Allotment will be finalized on December 5, 2025.
When will the shares list?
Listing is scheduled for December 9, 2025 on NSE SME.
Expert Comment
Neochem Bio’s strong financial turnaround, rising profitability, and high return ratios make its fundamentals appealing. The company is expanding rapidly, and the planned use of IPO funds is likely to further strengthen its balance sheet.
However, the SME segment carries higher risk and listing-day volatility. Investors with a long-term horizon may find value in the company’s growth prospects and operational capability.
