Gujarat-based Neochem Bio Solutions, which offers textile and garment washing auxiliaries, will open its initial public offering (IPO) for subscription next week on December 2, with a price band at Rs 93-98 per share.
The textile chemicals company aims to raise nearly Rs 45 crore via entirely fresh issue of 45.88 lakh shares at the upper price band.
The issue will remain open for public till December 4, while the one-day IPO anchor book will be launched on December 1.
The IPO share allotment will be finalised by December 5, while Neochem Bio Solutions shares will be available for trading on the NSE Emerge effective December 9.
Neochem Bio Solutions that manufactures specialty performance chemicals used in industries like textile & garment washing, home & personal care (HPC), institutional and industrial cleaners, paints and coatings, and dyes and pigments will spend Rs 23.9 crore of IPO proceeds for long-term working capital requirements.
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Further, Rs 10 crore will be utilise for repayment of certain outstanding borrowings, and the remainder funds for general corporate purposes.
With manufacturing facility of 22,000 metric ton per annum capacity at Sanand (Gujarat), Neochem Bio Solutions has reported profit of Rs 5.48 crore on revenue of 45.8 crore for the six months period ended September 2025. Profit in the fiscal 2025 increased sharply by 330.6 percent to Rs 7.8 crore and revenue grew by 37.7 percent to Rs 84.2 crore compared to previous year.
Vivro Financial Services is managing the Neochem Bio Solutions IPO.
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