Phychem Technologies IPO
Listed +3.7%31 Aug – 2 Sep 2026
Our IPO analysis
What stands out in the offer document
The five questions
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1How it makes money₹93 of every ₹100 of sales comes from its "Manufacturing" segment.
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2Is it growing, and is profit turning into cash?Sales rose 20% from 2024 to 2026 (₹47 cr → ₹56.5 cr).
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3How much cushion does it have?We haven't read this part of the document yet.
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4What you pay, and who gets the moneyAll the money raised goes to the company. At ₹54 you pay about ₹9.96 for every ₹1 of last year's profit.
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5Who controls it, and what is on record?Promoters own 87% now and 64% after the IPO. The document discloses 3 legal matters.
What the document doesn't lead with
Each line pairs what the document leads with and what it also prints, with both pages.
From the draft document. The final prospectus may change it.
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Latest update:
Listed at ₹56 vs ₹54 issue price (+3.7%) · Day-one close ₹59 · Subscribed 18.93× (QIB 4.3× · NII 42.8× · Retail 20.8×) · Price band ₹51–₹54 · Closed 2 Sep 2026 · Listed 7 Sep 2026 (Confirmed)
How it actually listed
₹56 on open, against a ₹54 issue price +3.7%
It ended its first day at ₹59 (+8.9% against the issue price), per the BSE's price archive.
We were not recording a grey-market premium before it listed.
What Phychem Technologies does
We are engaged in the manufacturing of rotational molding (roto molding) compounds, which serve as a key raw material for producing a wide range of hollow plastic products through the rotational molding process. Our product portfolio primarily comprises customized polyethylene-based compounds, formulated using Linear Low-Density Polyethylene (LLDPE), High-Density Polyethylene (HDPE), and other specialty additives.
Phychem Technologies financials
Rs crore · Annual| 2024 | 2025 | 2026 | ||
|---|---|---|---|---|
| Sales | 47 | 50 | 56 | |
| Operating Profit | — | — | — | |
| OPM % | — | — | — | |
| Net Profit | — | — | — | |
| Total Debt | 6 | 5 | 6 |
Phychem Technologies IPO offer structure
Fresh issue: ₹15 cr
The fresh issue alone, not the total raise: the document we read does not state the offer-for-sale part.
Size and split come from a public aggregator rather than the exchange, cross-checked against a second.
Use of proceeds- Repayment in full or in part, of certain of our outstanding borrowings: ₹3 cr
- Funding the capital expenditure towards procurement of plant and machinery: ₹5 cr
- Funding to meet working capital requirements: ₹3 cr
- General Corporate Purpose
Phychem Technologies promoters and holding
- Umakant Nivrutti Savadekar: Chairman and Managing Director
- Ulka Umakant Savadekar: Whole-Time Director and CFO
- Nivrutti Sonu Savdekar: Non-executive Director
- Vijaya Nivrutti Savdekar: Non-executive Director
Phychem Technologies risks and strengths
- Our business is dependent and will continue to depend on our manufacturing facility, and we are subject to certain risks in our manufacturing process. (p.24)
- We derive a significant part of our revenue from major customers and we do not have long term agreements with any of these customers. (p.25)
- We are heavily reliant on few suppliers for the supply of our raw materials, with our single largest supplier contributing to more than 50% of our purchases during the last 3 financial years. (p.25)
Phychem Technologies market and competition
Our competition varies by market, geographic areas and type of product. As a result, to remain competitive in our markets, we must continuously strive to reduce our costs of production, transportation and distribution and improve our operating efficiencies. We compete with various companies in organised and unorganised structure.
Phychem Technologies outlook, as the document states it
We seek to leverage our capabilities, including our manufacturing facilities and quality control practices, to further expand our product portfolio in the existing segments and also enter new product development. We intend to continue to focus on our ability to customize our products according to the specific requirements of our customers and broaden our portfolio and focus on sustainable solutions. We also plan to strengthen our market domestically to other Indian states and expand our exports and diversify geographically to mitigate risks.
Phychem Technologies IPO: common questions
When does the Phychem Technologies IPO open and close?
The Phychem Technologies IPO opened for bidding on 31 Aug 2026 and closed on 2 Sep 2026. Under the T+3 timetable the basis of allotment is fixed on the working day after the close, refunds and demat credits follow a day later, and the shares list on the third working day after the close.
What is the Phychem Technologies IPO price band?
The Phychem Technologies IPO price band is ₹51–₹54 per share. You can bid at any price inside the band, and a retail investor can bid at cut-off, which accepts the final issue price, usually the top of the band. The minimum investment is always worked out at that upper end.
What is the lot size and minimum investment for the Phychem Technologies IPO?
One lot is 2000 shares, and a retail application must be at least one lot. That is about ₹2,16,000 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
How much is the Phychem Technologies IPO subscribed?
As of 12 Oct 2026 the Phychem Technologies IPO is subscribed 18.93× in total, meaning investors have bid for that many times the shares on offer. Each category (QIB, NII and retail) is counted separately, and when retail is oversubscribed its allotment is decided by a lottery for one lot each.
When does the Phychem Technologies IPO list?
The Phychem Technologies IPO listed on 7 Sep 2026 on BSE SME. On listing day the shares go through a pre-open call auction from 9 to 10 am that sets the opening price, and normal trading starts at 10 am. Allotted shares reach demat accounts the working day before.
How do I check the Phychem Technologies IPO allotment status?
On the allotment status page published by MUFG Intime India, this issue's registrar, and on the exchange's basis of allotment. Those are the primary sources. If the issue was oversubscribed, retail allotment was decided by lottery, so a valid application does not mean shares. We do not hold allotment data and cannot look yours up. How allotment is actually decided →
Phychem Technologies IPO allotment status
Listed 7 Sep 2026. Allotment is decided and published by the registrar, not by us. This issue's registrar is MUFG Intime India.
Check your allotment on the registrar's own page ↗
We do not hold allotment data and cannot look yours up. If the issue was oversubscribed, retail allotment was decided by lottery, so a valid application does not mean shares. How allotment is actually decided →
Check it at the source: The offer document · MUFG Intime India (registrar) · BSE public issues · SEBI offer documents