Mumbai-based Chemkart India’s initial public offering (IPO) opened for subscription on Monday, July 7, and will close on Wednesday, July 9. The SME IPO aims to raise ₹80.08 crore through a combination of fresh issue and offer for sale, with a price band set at ₹236–248 per share. Early signs point to healthy retail investor interest as the IPO received a solid response in the initial hours of bidding.
Subscription Status and GMP Movement
As of 1:25 PM on Day 1, Chemkart India’s IPO was subscribed 0.26 times, according to data available. The issue was bid for 5.69 lakh shares as against 21.51 lakh on offer. The retail portion was subscribed 0.06 times, while the non-institutional investor (NII) category saw 1.09 times subscription. Meanwhile, the QIB part had not received any bids so far.
Meanwhile, in the unlisted grey market, shares of Chemkart India were commanding a flat premium of ₹0. This implies that the IPO is currently expected to list at its issue price of ₹248, suggesting cautious optimism among grey market traders.
IPO Structure and Investment Details
The Chemkart India IPO comprises a fresh issue of 26 lakh shares aggregating to ₹64.48 crore and an offer for sale (OFS) of 6.29 lakh shares worth ₹15.60 crore by promoters Ankit Shailesh Mehta and Parul Shailesh Mehta.
Retail investors can apply in lots of 600 shares, requiring a minimum investment of ₹1,41,600 for one lot and ₹2,83,200 for two lots. High-net-worth individuals (HNIs) need to apply for at least three lots (1,800 shares), translating to an investment of ₹4,24,800.
The IPO is being managed by Smart Horizon Capital Advisors as the book-running lead manager, with Bigshare Services serving as the registrar. Alacrity Securities is the market maker for this issue.
The basis of allotment is expected to be finalized on Thursday, July 10, while the listing is scheduled on the BSE SME platform on Monday, July 14.
Chemkart India raised ₹22.60 crore from anchor investors on July 4, ahead of the IPO opening. The proceeds from the fresh issue will be primarily used to fund the company’s expansion initiatives. This includes ₹34.68 crore earmarked for setting up a new manufacturing facility via its subsidiary Easy Raw Materials. Additionally, ₹20 crore will go towards debt repayment, and the balance will be utilized for general corporate purposes.
Company Overview
Established in 2020, Chemkart India operates a B2B platform supplying food and health-related ingredients. The company’s product categories span amino acids, vitamins, proteins, herbal extracts, health supplements, sports nutrition, and nucleotides.
The firm does not currently have a listed peer in the Indian market, making it a unique proposition for investors looking for exposure in this niche segment.
Chemkart India has demonstrated strong financial growth in recent years. In FY25, the company posted a 67.1 percent year-on-year (YoY) rise in profit after tax (PAT), climbing to ₹24.26 crore from ₹14.52 crore in FY24. Revenue also surged 54.7 percent YoY, reaching ₹205.46 crore in FY25 compared to ₹132.83 crore in the previous fiscal.
These figures highlight the company’s robust growth trajectory and position it as a potential long-term player in the food and health ingredients distribution space.
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