Patel Chem Specialities SME: Check IPO Date, Live Subscription and Key Details
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').
Price Range
₹82.00-84.00
Issue Size
₹55.83 Cr
Lot Size
1,600 shares
IPO Type
BSE SME
GMP
₹27(+32.14%)
Est. Listing Price
₹111
Estimate Profit
₹86,400
Retail Portion
-
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
4.25
P/E Ratio
19.77
RoNW
24.32%
ROE
29.85%
Debt to Equity
0.42
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Timeline
IPO Opens
25 Jul
IPO Closes
29 Jul
Allotment
30 Jul
Listing
1 Aug
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 25 July 2025 | Subscription starts |
| IPO Close Date | 29 July 2025 | Subscription ends |
| Allotment Date | 30 July 2025 | Allotment |
| Listing Date | 1 August 2025 | Listing |
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.
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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 |
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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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