Phychem Technologies IPO
smeclosedAbout the company
Phychem Technologies is involved in the production of rotational moulding compounds, which act as the major raw material used in the production of hollow plastic goods through the rotational moulding technique. The product line of the company mainly includes customised polyethene-based compounds produced using LLDPE, HDPE and speciality additives in powder or granulated form for rotational moulding companies. The manufacturing plant of the company is situated in Nashik, Maharashtra, and operates on a lease basis. The company exports its products to about 21 countries. During FY26, the company sold its products to about 24 international and about 265 domestic clients. The company also produces customised moulded tanks and offers job works like rotolining and toll pulverising. The company’s revenue comes mainly from manufacturing with 92.6% contribution in FY26, whereas trading has 7.1% and services contribute 0.2%. The major products of the company include colour powders, contributing to 45.5% of sales, followed by stone effect and PE foam compounds. Geographically, domestic sales account for 76.6% of the total revenue during FY26. Out of this, 54.6% comes from Maharashtra, followed by Karnataka and Gujarat, whereas the export revenue has declined from 31.1% in FY24 to 23.3% in FY26 and comes from exports to Guinea, Mauritius and Cameroon.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 02 Sep | ₹1 | ₹55 | 0 |
| 01 Sep | ₹1 | ₹55 | -1 |
| 31 Aug | ₹2 | ₹56 | 0 |
| 30 Aug | ₹2 | ₹56 | 0 |
| 29 Aug | ₹2 | ₹56 | +1 |
| 28 Aug | ₹1 | ₹55 | -1 |
| 27 Aug | ₹2 | ₹56 | 0 |
| 26 Aug | ₹2 | ₹56 | 0 |
Strengths
- Diversified product portfolio: Serving multiple industries and applications.
- Established customer base: Across India and overseas markets, with repeat orders.
- In-house manufacturing facility: Supports product customization and quality control.
- Experienced management: Strong domain knowledge in rotational moulding.
- Quality & sustainability focus: Includes ISO 9001:2015 certification and a ZED Bronze rating.
Risks
- High supplier concentration: The largest supplier accounted for 62.60% of purchases in FY26.
- Customer concentration: The top 10 customers contributed 52.99% of FY26 revenue.
- Single manufacturing facility: Disruption at its Nashik plant could materially affect operations.
- Raw-material price volatility: Raw materials are a significant cost, with no long-term supply contracts.
- Export & geopolitical exposure: Exports contributed 23.32% of FY26 revenue, including business exposure to Iraq.
- Industry dependence: Reliance on the plastic and rotational-moulding industry exposes the company to changes in demand and regulations.
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed31 Aug 2026Bidding starts for all investor categories
IPO Closes
Completed02 Sept 2026Last day to place your bid
Basis of Allotment
In Progress04 Sept 2026Share allotment finalised
0d since Basis of AllotmentToday · 04 Sept 20261d to Refund InitiationRefund Initiation
Upcoming05 Sept 2026Refunds credited for non-allottees
Credit to Demat
Upcoming06 Sept 2026Allotted shares credited to demat account
Listing on Exchange
Upcoming07 Sept 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 2000 | ₹108,000 | 1 | ₹108,000 | 1 lot only |
| HNI | 2 | 4000 | ₹216,000 | 2 | ₹216,000 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 1,428,572 | 7.5 | 5,057,145 | 3.54x | 28.2% |
| NII | 15% | 428,571 | 2.25 | 270,000 | 0.63x | 100% |
| Retail | 35% | 1,000,000 | 5.25 | 250,000 | 0.25x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
Date-wise daily subscription (all categories)
| Date / Day | Retail (x) | QIB (x) | NII (x) | EMP (x) | OTHER (x) | Total (x) | Total |
|---|---|---|---|---|---|---|---|
31 Aug Day 1 | 0.04x | 0.48x | 0.10x | 0.00x | 0.00x | 0.18x | 0.80x |
01 Sep Day 2 | 0.15x | 1.82x | 0.39x | 0.00x | 0.00x | 0.77x | 3.13x |
02 Sep Day 3 | 0.25x | 3.54x | 0.63x | 0.00x | 0.00x | 1.26x | 5.68x |
Date-wise cumulative subscription figures per category, refreshed each bidding day.