IPO Details
Bidding Dates
31 Jul '25 - 04 Aug '25
Minimum Investment
₹2,40,000/ 2 Lots (2,400 Shares)
Price Range
₹100-₹105
Maximum Investment
₹2,52,000/ 2 Lots (2,400 Shares)
Retail Discount
To be announced
Issue Size
₹25.77 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |Renol Polychem IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jul 31, 25
IPO Closing Date
Aug 04, 25
Basis of Allotment
Aug 05, 25
Initiation of Refunds
Aug 06, 25
IPO Listing Date
Aug 07, 25
Renol Polychem IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
|
Day 1Jul 30, 2025 |
0.00 | 2.82 | 0.65 | 0.96 |
About Renol Polychem IPO
Renol Polychem IPO is a book-built issue worth ₹25.77 crore. The entire issue comprises a fresh offering of 24.54 lakh equity shares. The IPO opens for public subscription on July 31, 2025, and closes on August 4, 2025. The basis of allotment is likely to be finalised on August 5, 2025.
The shares are proposed to be listed on the NSE SME platform, with a tentative listing date of August 7, 2025. The price band for the IPO is fixed between ₹100 and ₹105 per equity share. Retail investors can apply for a minimum of 2 lots, which equals 2,400 shares, requiring an investment of ₹2,40,000.
High Net-worth Individuals (HNIs) are required to apply for a minimum of 3 lots, or 3,600 shares, amounting to ₹3,78,000. Corporate Makers Capital Limited has been appointed as the book-running lead manager, while Skyline Financial Services Private Limited is serving as the registrar to the issue.
Asnani Stock Broker Private Limited is acting as the market maker for the IPO. Investors are advised to refer to the Renol Polychem IPO RHP for detailed disclosures.
Industry Outlook
- The India Master Batch Market was valued at USD 12.4 billion in 2023 and is expected to reach USD 17.22 billion by 2030, growing at a CAGR of 4.8% from 2024 to 2030.
- Demand from packaging, automotive, and construction sectors is driving growth, supported by rising plastic use and government initiatives like ‘Make in India’.
- Polyethylene (PE) holds the largest share due to its widespread usage, while Polypropylene (PP) is expected to grow significantly owing to applications in automotive and construction.
Renol Polychem IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The company plans to use part of the IPO funds to buy new machinery for expanding production capacity.
- A portion of the proceeds will be used to repay existing borrowings and reduce financial liabilities.
- Funds will also support working capital needs to ensure smooth day-to-day operations.
- The remaining funds from the issue will be allocated towards general corporate purposes, helping the company strengthen its operational and financial position.
About Renol Polychem Limited
Renol Polychem Limited is a company engaged in the manufacturing of various plastic additives and colorants. It originally began as a partnership firm named Renol Enterprises in 2008. Later, it was converted into a private limited company in January 2024 and then into a public limited company in June 2024 under the Companies Act, 2013. The company operates from Rajkot, Gujarat, and began its manufacturing journey in 2020.
Renol Polychem Limited manufactures a wide range of products including colour masterbatches, colour pigments, filler granules, anti-moisture powder, carbon noodles, superpack & onepack, impact modifier, processing aid, and titanium dioxide.
These products are sold under its own brand name, "RENOL". The company also offers tailored solutions for manufacturers of UPVC and CPVC pipes and fittings, meeting specific needs in the plastic industry.
Focused on a B2B model, the company supplies its products directly to commercial and manufacturing units. The business emphasises quality at every stage of production through multiple quality checks to ensure customer satisfaction.
The company's operations are led by Mr. Bhaveshbhai Mansukhbhai Harsoda, the Managing Director with over 15 years of experience, and Mr. Naitik Bhaveshbhai Harsoda, the Executive Director responsible for sales and marketing.
Renol Polychem Limited continues to grow by expanding its product portfolio and manufacturing capabilities while also prioritising workforce welfare, hygiene, and workplace safety. Through consistent performance and product quality, the company has built a strong foundation in the plastic additives industry.
How To Check the Allotment Status of Renol Polychem IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Renol Polychem IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Renol Polychem IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Renol Polychem IPO
Registered office: 307, Sanskar Heights NR RA, Circle 150 FT Ring RD, Mavdi,
Rajkot, Gujarat- 360004
Phone: +91- 9723780726
E-mail: compliance@renolpolychem.com
Renol Polychem IPO Reservation
|
Investor Category |
Shares Offered |
|
Market Maker Shares |
1,48,800 (6.06%) |
|
QIB Shares |
6,40,800 |
|
NII (HNI) Shares |
3,49,200 (14.23%) |
|
Retail Shares |
13,15,200 (53.59%) |
|
Total Shares |
24,54,000 (100.00%) |
Renol Polychem IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
2 |
2,400 |
₹2,40,000 |
|
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 Promoter Holding
The promoters of the company include Mr. Bhaveshbhai Mansukhbhai Harsoda and Mr. Naitik Bhaveshbhai Harshoda.
|
Share Holding Pre-Issue |
99.99% |
|
Share Holding Post Issue  |
69.11% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Renol Polychem IPO
|
KPI |
Value |
|
Debt/Equity  |
0.52  |
|
ROE (%) |
45.37 |
|
RoCE (%) |
64.18 |
|
RoNW (%) |
45.37 |
|
PAT Margin (%) |
8.02 |
|
EBITDA Margin (%) |
11.36 |
Renol Polychem IPO Prospectus
Renol Polychem IPO Registrar and Lead Managers
Renol Polychem IPO Lead Managers
- Corporate Makers Capital Limited
Registrar for Renol Polychem IPO
Skyline Financial Services Private Limited
- Contact Number: 02228511022
- Email Address: ipo@skylinerta.com
Renol Polychem IPO Registrar
Financial Performance of Renol Polychem Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 1200.43 | 6229.90 | 644.93 |
| Profit After Tax (in ₹ lakh) | 114.12 | 499.68 | 153.39 |
| Earnings per share (in ₹) | 2.08 | 9.10 | 2.79 |
| Net Worth (in ₹ lakh) | 1447.31 | 1333.20 | 869.30 |
| Return on Equity Ratio | 8.21 | 45.37 | 27.50 |
| Return on capital employed (RoCE) (%) | 11.38 | 64.18 | 38.29 |
| EBITDA (in ₹ lakh) | 160.18 | 707.48 | 217.90 |
Know before investing
Strengths
8-
Over 15 years’ experience in color masterbatch manufacturing boosts industry knowledge and confidence.
-
Cost-effective product solutions help reduce input costs for manufacturers using masterbatch technology.
-
711+ customer base showcases strong client network across Gujarat and expanding regions.
-
Manufacturing facility spans 4,500 sq. ft., offering in-house production and cost advantages.
-
Wide product range including carbon noodles, pigments, and masterbatches meets diverse industry needs.
-
Cordial customer relationships built on sustained quality products ensure repeated business and loyalty.
-
Plans for geographic expansion across India promise new client growth and market presence.
-
Focus on technology upgrades and automation aims to boost productivity and operational efficiency.
Risks
8-
₹527.90 lakh in debt may strain operations if financing terms worsen unexpectedly.
-
Top 10 clients contributed 34.36% revenue — client loss could harm profitability.
-
Negative cash flows in the past raise concerns over future financial stability and liquidity.
-
Rental premises dependency risks disruption if lease agreements aren’t renewed or extended.
-
Missing statutory approvals or renewals may halt operations and impact financial performance badly.
-
Manufacturing unit shutdown in Rajkot could severely damage earnings and business continuity.
-
Business depends on a limited product range — shifting demand may hurt future revenues.
-
Past ROC filing errors could lead to penalties and regulatory complications ahead.
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Renol Polychem Limited Peer Comparison
| Company Name | EPS (Basic) | NAV (per share) (₹) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| Renol Polychem Limited | 9.10 | 24.28 | - | 45.37 |
| Multibase India Limited | 11.61 | 62.21 | 23.85 | 13.76 |
| Captain Polyplast Limited | 5.28 | 25.50 | 15.07 | 25.40 |
| R M Drip and Sprinklers Systems Limited | 9.58 | 32.00 | 63.69 | 41.45 |
Renol Polychem IPO FAQs
Renol Polychem IPO is a book-built issue IPO. It runs from July 31, 2025, to August 4, 2025.
The Basis of Allotment will happen on Tuesday, August 5, 2025.
The IPO subscription window will open on July 31, 2025.
The minimum lot size retail investors can subscribe to is 2 lots, and the lot size is 1,200 shares.
The listing date for Renol Polychem IPO is Thursday, August 7, 2025.
The issue size of the Renol Polychem IPO is ₹25.77 crore.
The open and close dates for Renol Polychem IPO are from July 31, 2025, to August 4, 2025.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Skyline Financial Services Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.
The Renol Polychem IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Renol Polychem Limited’s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the Renol Polychem IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
