Patel Chem Specialities SME IPO
ListedBSE SMEOpens 25 July 2025Closes 29 July 2025
Patel Chem Specialities Limited, established in 2008, is a leading manufacturer and exporter of specialty chemicals, primarily focusing on cellulose-based excipients. These excipients are critical ingredients used in…
Patel Chem Specialities Limited, established in 2008, is a leading manufacturer and exporter of specialty chemicals, primarily focusing on cellulose-based excipients. These excipients are critical ingredients used in pharmaceuticals, food & beverages, cosmetics, and various industrial applications as binders, disintegrants, thickeners, stabilizers, and gelling agents. Key products include Sodium Monochloro Acetate (SMCA), Sodium Starch Glycolate (SSG - 'Blowtab'), Croscarmellose Sodium (CCS - 'Disolwell'), Carboxymethyl Cellulose Calcium (Calcium CMC - 'Swellcal'), Sodium Carboxymethyl Cellulose (Sodium CMC - 'Rheollose'), and Microcrystalline Cellulose (MCC - 'Hindcel').
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Key ratios
As per RHP / filingsTimeline
IPO Opens
25 Jul
IPO Closes
29 Jul
Allotment
30 Jul
Listing
1 Aug
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 25 July 2025 |
| IPO Close Date | 29 July 2025 |
| Allotment Date | 30 July 2025 |
| Listing Date | 1 August 2025 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,68,800 |
SHNI (Min) | 3 | ₹4,03,200 |
SHNI (Max) | 7 | ₹9,40,800 |
BHNIAbove ₹10,00,000 | 8 | ₹10,75,200 |
IPO Objectives
- Funding capital expenditure requirement of the Company (setting up a new plant at Indrad, Mahesana for manufacturing CCS, SSG, and Calcium CMC).
- General corporate purposes.
Strengths
- Wide range of product portfolio of cellulose-based excipients used across diverse industries like pharmaceuticals, food & beverages, cosmetics, and industrial applications.
- Experienced Promoter and Management team, with the MD having over 30 years of experience in the organic and inorganic chemical fields, particularly in the pharmaceutical and nutraceutical industries.
- Global market presence, exporting products to over 15 countries including USA, Germany, UK, Japan, China, and Australia, adhering to international quality standards (US-DMF, GMP, ISO, FDA, Kosher).
- Diversified customer base, having served over 350 customers as of March 31, 2025, reducing reliance on a few clients.
- Continuous innovation and quality consistency, supported by in-house R&D and stringent quality control from raw material to finished goods.
Weaknesses
- Sustainability of the sudden significant jump in net margins from FY24 onwards raises concerns, as such high growth in profitability might be difficult to maintain consistently in a competitive market.
- Working capital intensive business, as evidenced by a substantial portion of the IPO proceeds allocated to working capital, indicating ongoing funding needs for operations.
- High revenue concentration: While diversified across industries, specific top clients might still contribute a significant portion of revenue, making the company vulnerable to changes in their business or demand.
- Exposure to raw material price volatility: Dependence on certain raw materials, especially those derived from monochloro acetic acid, can impact profitability if prices fluctuate significantly.
- Intense competition in the specialty chemicals sector, particularly for pharmaceutical excipients, from both domestic and international players, which can lead to pricing pressures.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 65.31 | 46.97 | 37.08 |
| Revenue (₹ Cr.) | 105.55 | 82.72 | 69.75 |
| PAT (₹ Cr.) | 10.57 | 7.66 | 2.89 |
| Net Worth (₹ Cr.) | 35.4 | 19.52 | 11.87 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Patel Chem Specialities | 4.11 | 19.77 | 29.85% | 35.4 |
| Accent Microcell Limited | 2.8 | 19.89 | 16.97% | 164 |
| Sigachi Industries Limited | 2.67 | 31.3 | 8.52% | 410 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.01x | 1.01x | 105.27x |
| NII | 3.27x | 17.8x | 236.62x |
| S-HNI | 1.95x | 17.86x | 204.81x |
| B-HNI | 3.93x | 18.31x | 165.26x |
| RII | 3.46x | 30.26x | 172.92x |
| Total | 2.44x | 19.25x | 167.27x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 13,29,600 | 13,99,71,200 | 1,175.76 |
| NII | 9,98,400 | 23,62,44,800 | 1,984.46 |
| Small NII | 3,32,800 | 6,81,61,600 | 572.56 |
| Big NII | 10,19,200 | 16,84,36,800 | 1,414.87 |
| RII | 23,31,200 | 40,31,13,600 | 3,386.15 |
| Total | 46,59,200 | 77,93,29,600 | 6,546.37 |
Company Details
- Patel Chem Specialities Ltd.
- Plot No. 272/4-5, Phase II, G.I.D.C Industrial Estate, Vatva Road, Ahmedabad, Gujarat-382445
- 91- 9712999854
- cs@patelchem.com
- http://www.patelchem.com/
Registrar Details
- MUFG Intime India Private Limited (Link Intime)
- +91-22-4918 6270
- patelchem.ipo@linkintime.co.in
- https://linkintime.co.in/Initial_Offer/public-issues.html
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Sources
We match Patel Chem Specialities SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- MUFG Intime India Private Limited (Link Intime)Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.