Phychem Technologies Ltd IPO
Status: Closed
Overview
IPO date
31 Aug 2026 to 02 Sept 2026
Face value
₹ 0 per share
Price
₹ 51 to ₹54 per share
Issue Size
2,700,000 shares
(aggregating up to ₹ 14.58 Cr)
(aggregating up to ₹ 14.58 Cr)
Allotment Date
03 Sept 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Plastic products
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T&C*
Strengths vs Risks of Phychem Technologies Ltd
Know the pros & cons
Strengths
- Wide range of products finding diverse application in roto moulding industry.
- Long standing relationships with diversified customers across geographies.
- In-house manufacturing facility with equipped machines and processes.
- Focus on Quality, Environment, Health and Safety.
- Experienced Promoters and Management with extensive domain knowledge.
Risks
- The company's business is dependent and will continue to depends on its manufacturing facility, and the company is subject to certain risks in the company's manufacturing process. Any slowdown or shutdown in the company's manufacturing operations or strikes, work stoppages or increased wages demands by its employees that could interfere with the company's operations could have an adverse effect on its business, financial condition and results of operations.
- The company derives a significant part of its revenue from major customers and the company does not has long term agreements with any of these customers. If one or more of such customers choose not to source their requirements from it the company's business, financial position and results of operations may be adversely affected.
- The company is heavily reliant on few suppliers for the supply of its raw materials, with the company's single largest supplier contributing to more than 50% of its purchases during the last 3 financial years. Moreover, the company does not have long- term agreements with these suppliers and an increase in the cost of, or a shortfall in the availability or quality of such raw materials could have an adverse effect on its business, financial condition and results of operations.
- The company derives a portion of its revenues from exports and is subject to risk of international trade.
- Exchange rate fluctuations may adversely affect the company's results of operations as its sales from exports and purchases from imports are denominated in foreign currencies.
- The company is subject to strict quality requirements and the success and wide acceptability of its products is largely dependent upon the company's quality controls and standards. Any failures to comply with quality standards may adversely affect its business prospects and financial performance, including cancellation of existing and future orders.
- The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.
- Inventories and trade receivables form a major part of the company's current assets. Failures to manage its inventory and trade receivables could have an adverse effect on the company's sales, profitability, cash flow and liquidity.
- Geographical concentration of the company's manufacturing facility and business may adversely affect its operations, business and financial condition.
- The company is subject to increasingly stringent environmental, health and safety laws, regulations and standards. Non- compliance with and adverse changes in health, safety, labour, and environmental laws and other similar regulations to its manufacturing operations may adversely affect the company's business, results of operations and financial condition.
- The Logo used by the Company is currently under process of registration under Trade Marks Act, 1999. Failures to protect its intellectual property rights may adversely affect the company's competitive business position, financial condition and profitability.
- There are certain discrepancies/errors noticed in some of the company's corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
- The company's reliance on use of plastic products in various end use industries could have an adverse effect on its business.
- The company derives a portion of its revenue from sales of various products and chemicals used in rotomolding industry for which the company is authorized distributors. Any termination to such distributorship arrangement may affect its results of operations.
- The company faces competition from both domestic as well as multinational corporations and its inability to compete effectively may have a material adverse impact on the company's business, financial condition and results of operations.
- The company's registered office and factory is situated on leased premises. Failures to renew its current leases or locate desirable alternative for the company's facility could materially and adversely affect its business.
- If the company is unable to manage its growth effectively and further expand into new markets the company's business, future financial performance and results of operations could be materially and adversely affected.
- The Company may not be successful in penetrating into new export markets.
- Under-utilization of the company's manufacturing capacity may have an adverse effect on its business, future prospectus and future financial performance. Moreover, information relating to capacity utilization of the company's production facility included in this Red Herring Prospectus is based on certain assumptions and has been subjected to rounding off, and future production and capacity utilization may vary.
- Delay/default in payment of statutory dues may attract penalties and in turn have an adverse impact on the company's financial condition.
- The cost of implementing new technologies for the company's operations could be significant and could adversely affect its business, financial condition and results of operations.
- The company's insurance coverage may not be adequate to protect it against all potential losses to which the company may be subject and this may have a material effect on its business and financial condition.
- The Company and Directors are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render it/them liable to liabilities/penalties/prosecutions and may adversely affect its business and results of operations.
- The Company operates under several statutory and regulatory approvals in respect of its operations. Failures to obtain or maintain licenses, registrations, permits and approvals may affect its business and results of operations.
- The company is dependent on third party transportation providers for the delivery of its raw material and final products. Accordingly, continuing increases in transportation costs or unavailability of transportation services may have an adverse effect on the company's business, financial condition, results of operations and prospects.
- The company intends to utilize a portion of the Net Proceeds for funding its capital expenditure requirements for installation of additional plant & machinery. Unanticipated delays in implementation and cost overruns related to the said capital expenditure, could have a material adverse effect on the company's financial condition, results of operations and growth prospects.
- The company's Contingent Liability and Commitments could affect its financial position.
- Activities involving the company's manufacturing process can cause injury to people or property in certain circumstances. A significant disruption at any of its manufacturing facility may adversely affect the company's production schedules, costs, sales and ability to meet customer demand.
- The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
- The company is dependent on its promoter and senior management and other key personnel, and the loss of, or the company's inability to attract or retain, such persons could affect its business, results of operations, financial condition and cash flows.
- The Company avails benefits under the Advance Authorisation Scheme, and any failures to comply with the conditions of the scheme may adversely affect its business and financial condition.
- The company's business is working capital intensive. If the company is unable to borrow to meet its working capital requirements, it may materially and adversely affect the company's business and results of operations.
- The Company has taken unsecured loans that may be recalled by the lenders at any time.
- The company's lenders have charge over its immovable and movable properties in respect of finance availed by it.
- The Objects of the Issue for which funds are being raised, are based on the company's management estimates and have not been appraised by any bank or financial institution or any independent agency.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- None of the company's Directors have prior experience of holding a directorship in a listed company.
- Industry information included in this Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
- Fraud, theft, employee negligence or similar incidents may adversely affect the company's results of operations and financial condition.
- Liquidity Risk and Dependence on Market Maker Continuity on the SME Platform.
- The company's ability to pay any dividends will depends upon future earnings, financial condition, cash flows and working capital requirements.
- There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- The company is subject to the risk of failures of, or a material weakness in, the company's internal control systems inclusive of information and reporting systems. If the company is unable to establish and maintain an effective system of internal controls and compliance, its business and reputation could be adversely affected.
- Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on the company's business, results of operation or financial condition.
- The company's Promoters are co-borrowers and have extended personal guarantee in the loan facilities obtained by the Company, and any failures or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations and thereby, impact its business and operations.
- Excessive dependence on Kotak Mahindra Bank Limited and SIDBI in respect of Loan facilities obtained by the Company.
- The company is subject to certain restrictive covenants in debt facilities provided to it by its lenders.
- The average cost of acquisition of Equity Shares by the company's Promoters is lower than the face value of Equity Share.
- The company's Promoters and the Promoter Group will jointly continue to retain majority shareholding in the Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- Significant differences exist between Accounting Standards and other accounting principles, such as Ind AS, US GAAP and International Financial Reporting Standards ("IFRS"), which investors may be more familiar with and consider material to their assessment of the company's financial condition.
- The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of the company's Equity Shares or additional funds through incurring debt to satisfy its capital needs, which the company may not be able to procure and any future equity offerings by it.
- The Issue price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company's Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- The company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
- Any of the Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the BSE SME Platform in a timely manner or at all.
- After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
How to check the allotment status of Phychem Technologies Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 31 Aug 2026 & closes on 02 Sept 2026.
Phychem Technologies Limited was originally incorporated as 'Phychem Technologies Private Limited', a private limited Company in Maharashtra, Mumbai dated June 13, 2013, with the Registrar of Companies. The Company was converted into a Public Limited company on August 18, 2025 and a fresh Certificate of Incorporation was issued by the Central Processing Center.
Company offers a wide range of roto moulding compounds like: Color Powders, Polyethylene (PE) Foam compound, ESF granuals, Stone effect compound, Permanent antistatic compound, Super Tuff HDPE Compound / Powder Flexible Compounds, Flame retardant compound and Rotolining Compound. These compounds add varied features in the roto moulded products such as enhanced UV stability and long-term outdoor durability, thermal or acoustic insulation, adding stiffness and structural rigidity to products, natural or stone-like aesthetic solutions, incorporating antistatic properties, flame-retardant properties etc.
Apart from this, Company cater to a diverse base of customers across various industries such as building and construction, water management, agriculture, automotive, and consumer products etc. Additionally, it undertake the production of custom-moulded tanks catering to diverse end-use applications. Further, it provide jobwork services such as rotolining and toll pulverising. The manufacturing facility is situated at Tal - Dindori, in Nashik District of Maharashtra.
Company is planning the Initial Public Offer of 27,00,000 Equity Shares of face value of Rs 10 each through Fresh Issue.
Phychem Technologies Ltd IPO will close on 02 Sept 2026.
- Wide range of products finding diverse application in roto moulding industry.
- Long standing relationships with diversified customers across geographies.
- In-house manufacturing facility with equipped machines and processes.
- Focus on Quality, Environment, Health and Safety.
- Experienced Promoters and Management with extensive domain knowledge.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Umakant Nivrutti Savadekar | 3718633 | 49.32 | 3718633 | 36.31 |
| 2 | Ulka Umakant Savadekar | 2538999 | 33.67 | 2538999 | 24.79 |
| 3 | Nivrutti Sonu Savdekar | 226122 | 3 | 226122 | 2.21 |
| 4 | Vijaya Nivrutti Savdekar | 75400 | 1 | 75400 | 0.74 |
| 5 | Saee Umakant Savadekar | 377000 | 5 | 377000 | 3.68 |
| 6 | Gargi Umakant Savadekar | 377000 | 5 | 377000 | 3.68 |
| 7 | Vidya Anil Patil | 26 | --- | 26 | --- |
| 8 | Sandhya Devendra Zope | 26 | --- | 26 | --- |
| 9 | Sangita Rajesh Patil | 26 | --- | 26 | --- |
| 10 | Sandip Attarde | 19231 | 0.26 | 19231 | 0.19 |
| 11 | Jagruti Sandeep Attarde | 19231 | 0.26 | 19231 | 0.19 |
| 12 | Rajani Prakash Attarde | 46154 | 0.61 | 46154 | 0.45 |
| 13 | Prakash Hari Attarde | 15385 | 0.2 | 15385 | 0.15 |
| 14 | Dhanraj Sonu Savadekar | 3846 | 0.05 | 3846 | 0.04 |
| 15 | Girish Nandu Khadke | 9615 | 0.13 | 9615 | 0.09 |
| 16 | Ajit Dattatray kale | 3846 | 0.05 | 3846 | 0.04 |
- The company's business is dependent and will continue to depends on its manufacturing facility, and the company is subject to certain risks in the company's manufacturing process. Any slowdown or shutdown in the company's manufacturing operations or strikes, work stoppages or increased wages demands by its employees that could interfere with the company's operations could have an adverse effect on its business, financial condition and results of operations.
- The company derives a significant part of its revenue from major customers and the company does not has long term agreements with any of these customers. If one or more of such customers choose not to source their requirements from it the company's business, financial position and results of operations may be adversely affected.
- The company is heavily reliant on few suppliers for the supply of its raw materials, with the company's single largest supplier contributing to more than 50% of its purchases during the last 3 financial years. Moreover, the company does not have long- term agreements with these suppliers and an increase in the cost of, or a shortfall in the availability or quality of such raw materials could have an adverse effect on its business, financial condition and results of operations.
- The company derives a portion of its revenues from exports and is subject to risk of international trade.
- Exchange rate fluctuations may adversely affect the company's results of operations as its sales from exports and purchases from imports are denominated in foreign currencies.
- The company is subject to strict quality requirements and the success and wide acceptability of its products is largely dependent upon the company's quality controls and standards. Any failures to comply with quality standards may adversely affect its business prospects and financial performance, including cancellation of existing and future orders.
- The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.
- Inventories and trade receivables form a major part of the company's current assets. Failures to manage its inventory and trade receivables could have an adverse effect on the company's sales, profitability, cash flow and liquidity.
- Geographical concentration of the company's manufacturing facility and business may adversely affect its operations, business and financial condition.
- The company is subject to increasingly stringent environmental, health and safety laws, regulations and standards. Non- compliance with and adverse changes in health, safety, labour, and environmental laws and other similar regulations to its manufacturing operations may adversely affect the company's business, results of operations and financial condition.
- The Logo used by the Company is currently under process of registration under Trade Marks Act, 1999. Failures to protect its intellectual property rights may adversely affect the company's competitive business position, financial condition and profitability.
- There are certain discrepancies/errors noticed in some of the company's corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
- The company's reliance on use of plastic products in various end use industries could have an adverse effect on its business.
- The company derives a portion of its revenue from sales of various products and chemicals used in rotomolding industry for which the company is authorized distributors. Any termination to such distributorship arrangement may affect its results of operations.
- The company faces competition from both domestic as well as multinational corporations and its inability to compete effectively may have a material adverse impact on the company's business, financial condition and results of operations.
- The company's registered office and factory is situated on leased premises. Failures to renew its current leases or locate desirable alternative for the company's facility could materially and adversely affect its business.
- If the company is unable to manage its growth effectively and further expand into new markets the company's business, future financial performance and results of operations could be materially and adversely affected.
- The Company may not be successful in penetrating into new export markets.
- Under-utilization of the company's manufacturing capacity may have an adverse effect on its business, future prospectus and future financial performance. Moreover, information relating to capacity utilization of the company's production facility included in this Red Herring Prospectus is based on certain assumptions and has been subjected to rounding off, and future production and capacity utilization may vary.
- Delay/default in payment of statutory dues may attract penalties and in turn have an adverse impact on the company's financial condition.
- The cost of implementing new technologies for the company's operations could be significant and could adversely affect its business, financial condition and results of operations.
- The company's insurance coverage may not be adequate to protect it against all potential losses to which the company may be subject and this may have a material effect on its business and financial condition.
- The Company and Directors are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render it/them liable to liabilities/penalties/prosecutions and may adversely affect its business and results of operations.
- The Company operates under several statutory and regulatory approvals in respect of its operations. Failures to obtain or maintain licenses, registrations, permits and approvals may affect its business and results of operations.
- The company is dependent on third party transportation providers for the delivery of its raw material and final products. Accordingly, continuing increases in transportation costs or unavailability of transportation services may have an adverse effect on the company's business, financial condition, results of operations and prospects.
- The company intends to utilize a portion of the Net Proceeds for funding its capital expenditure requirements for installation of additional plant & machinery. Unanticipated delays in implementation and cost overruns related to the said capital expenditure, could have a material adverse effect on the company's financial condition, results of operations and growth prospects.
- The company's Contingent Liability and Commitments could affect its financial position.
- Activities involving the company's manufacturing process can cause injury to people or property in certain circumstances. A significant disruption at any of its manufacturing facility may adversely affect the company's production schedules, costs, sales and ability to meet customer demand.
- The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
- The company is dependent on its promoter and senior management and other key personnel, and the loss of, or the company's inability to attract or retain, such persons could affect its business, results of operations, financial condition and cash flows.
- The Company avails benefits under the Advance Authorisation Scheme, and any failures to comply with the conditions of the scheme may adversely affect its business and financial condition.
- The company's business is working capital intensive. If the company is unable to borrow to meet its working capital requirements, it may materially and adversely affect the company's business and results of operations.
- The Company has taken unsecured loans that may be recalled by the lenders at any time.
- The company's lenders have charge over its immovable and movable properties in respect of finance availed by it.
- The Objects of the Issue for which funds are being raised, are based on the company's management estimates and have not been appraised by any bank or financial institution or any independent agency.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- None of the company's Directors have prior experience of holding a directorship in a listed company.
- Industry information included in this Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
- Fraud, theft, employee negligence or similar incidents may adversely affect the company's results of operations and financial condition.
- Liquidity Risk and Dependence on Market Maker Continuity on the SME Platform.
- The company's ability to pay any dividends will depends upon future earnings, financial condition, cash flows and working capital requirements.
- There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- The company is subject to the risk of failures of, or a material weakness in, the company's internal control systems inclusive of information and reporting systems. If the company is unable to establish and maintain an effective system of internal controls and compliance, its business and reputation could be adversely affected.
- Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on the company's business, results of operation or financial condition.
- The company's Promoters are co-borrowers and have extended personal guarantee in the loan facilities obtained by the Company, and any failures or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations and thereby, impact its business and operations.
- Excessive dependence on Kotak Mahindra Bank Limited and SIDBI in respect of Loan facilities obtained by the Company.
- The company is subject to certain restrictive covenants in debt facilities provided to it by its lenders.
- The average cost of acquisition of Equity Shares by the company's Promoters is lower than the face value of Equity Share.
- The company's Promoters and the Promoter Group will jointly continue to retain majority shareholding in the Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- Significant differences exist between Accounting Standards and other accounting principles, such as Ind AS, US GAAP and International Financial Reporting Standards ("IFRS"), which investors may be more familiar with and consider material to their assessment of the company's financial condition.
- The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of the company's Equity Shares or additional funds through incurring debt to satisfy its capital needs, which the company may not be able to procure and any future equity offerings by it.
- The Issue price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company's Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- The company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of its Equity Shares.
- Any of the Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the BSE SME Platform in a timely manner or at all.
- After this Issue, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
The Issue type of Phychem Technologies Ltd is Book Building - SME.
The minimum application for shares of Phychem Technologies Ltd is 4000.
The total shares issue of Phychem Technologies Ltd is 2700000.
Initial public offer of 27,00,000 equity shares of face value of Rs. 10/- each (the "Equity Shares") of Phychem Technologies Limited ("The Company" or "PTL" or "The Issuer") at an issue price of Rs. 54 per equity share (including share premium of Rs. 44 per equity share) for cash, aggregating up to Rs. 14.58 Crore ("Public Issue") out of which 1,38,000 equity shares of face value of Rs. 10 each, at an issue price of Rs. 54 per equity share for cash, aggregating Rs. 0.75 Crore will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. Issue of 25,62,000 equity shares of face value of Rs. 10 each, at an issue price of Rs. 54 per equity share for cash, aggregating upto Rs. 13.83 Crore is herein after referred to as the "Net Issue". The public issue and net issue will constitute 26.37% and 25.02% respectively of the post-issue paid-up equity share capital of the company.
Price Band: Rs. 54 per equity share of face value of Rs. 10/- each.
The floor price is (Rs.54) 5.4 times of the face value of the equity shares.
Bids can be made for a minimum of 4000 equity shares and in multiples of 2000 equity shares thereafter.