Neochem Bio Solutions raise Rs 12 cr from anchor investors

Neochem Bio Solutions, a speciality performance chemical manufacturer, said it has raised Rs 12.77 crore from anchor investors ahead of its Rs 45-crore initial public offering which opened for public subscription on Tuesday.

The company has allocated 13.03 lakh shares at Rs 98 per equity share to seven entities, including Sanshi Fund -I, Mavira Growth Opportunities Fund and SB Opportunities Fund II, the company said in a statement.

The initial public offering (IPO) will conclude on December 4, and the company's shares are proposed to be listed on the NSE Emerge platform, the Ahmedabad-based firm said.

The company has fixed a price band at Rs 93-98 per equity share for the public issue. The IPO is entirely a fresh issue of up to 45.88 lakh shares worth Rs 44.97 crore, it added. The net proceeds from the issue will be used for the company's long-term working capital requirements, repayment of debt, and general corporate purposes.

"This IPO will accelerate our strategic initiatives and enable us to create meaningful value for our customers, partners, and shareholders," Swapnil Rameshbhai Makati, Managing Director of Neochem Bio Solutions Ltd, said.

Neochem Bio Solutions has a diverse portfolio across four primary product segments, such as polymers, surfactants, silicones, and esters & bio-based sustainable solutions. It caters to multiple industries, including textile & garment washing, home & personal care, water treatment, paper & pulp, construction, rubber and dyes & pigments.

For the six months ended September 2025, the company reported a revenue of Rs 45.83 crore and profit after tax (PAT) of Rs 5.5 crore. It posted a revenue of Rs 84.17 crore and PAT of Rs 7.75 crore in FY 25. Vivro Financial Services is the sole book-running lead manager for the IPO.