Divya Agarwal
Rajkot (Gujarat) [India], July 30: The Rs. 25.77 crore Initial Public Offering (IPO) of Rajkot-based Renol Polychem Limited, a leading manufacturer of colour and additive master-batches in India, is set to open on July 31, 2025. The IPO will remain open for subscription until August 4, 2025.
The IPO comprises a fresh issue of 24.54 lakh shares. Renol Polychem has set a price band of Rs. 100 to Rs. 105 per share for the issue. The lot size is 1,200 shares. Retail investors are required to apply for at least two lots (2,400 shares), amounting to Rs. 2,52,000. For High Net-worth Investors (HNIs), the minimum application amount is Rs. 3,78,000 (3,600 shares).
Out of the total fundraise of Rs. 25.77 crore, Renol Polychem plans to use Rs. 5.60 crore for purchasing advanced machinery, Rs. 15.15 crore for working capital requirements to expand operations and market presence, Rs. 1 crore for repayment of certain borrowings, and the rest for general corporate purposes. The shares will be listed on the NSE SME Emerge platform on Thursday, August 7, 2025.
Founded in 2008, Renol Polychem specialises in the manufacturing of colour master-batches, plastic master-batches, industrial chemicals, impact modifiers, plastic pigments, and more. It also offers all-in-one additives, including stabilisers, impact modifiers, and colour pigments, that have applications in the UPVC, CPVC pipes, pipe fittings, and plastic products segments. The company’s manufacturing unit in Rajkot is equipped with modern machinery and R&D facilities.
Renol Polychem has demonstrated strong financial performance with significant revenue growth and profitability over the last few years. It reported revenue of Rs. 52.26 crore and profit after tax of Rs. 3.94 crore in financial year 2023-24. In FY 2024-25, its revenue was Rs. 62.29 crore and profit after tax was Rs. 4.99 crore.
The IPO comes at a time when India’s master-batch market is witnessing rapid growth, and is expected to reach $17.22 billion by 2030, driven by increasing demand from packaging, automotive, agriculture, healthcare, aerospace, automotive, consumer goods, and other sectors.
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