NewsPhychem Technologies IPO Day 2 Live: QIBs book 3.53x, total at 1.46x - Check analysts view and morePhychem Technologies IPO Day 2 Live: QIBs book 3.53x, total at 1.46x - Check analysts view and more
- Phychem Technologies IPO total subscription stands at 1.46x on Day 2.
- Qualified Institutional Buyers (QIB) lead with 3.53x subscription.
- Retail category jumped to 0.60x from 0.13x on Day 1.
- Issue price band is ₹51-₹54 with a minimum bid quantity of 4000 units.
- Key risks include customer concentration and dependence on a single manufacturing facility.
*this image is generated using AI for illustrative purposes only.
Phychem Technologies IPO is trading at a cumulative subscription of 1.46x on Day 2, with Qualified Institutional Buyers (QIB) leading the charge at 3.53x. The issue, priced between ₹51-₹54, saw steady momentum from Non-Institutional and Retail investors.
Subscription Status
The QIB category remains the dominant force, having secured 3.53x of the offer. Non-Institutional Buyers (NII) saw significant movement, with bHNI subscriptions rising to 0.85x and sHNI to 0.58x. Retail participation jumped to 0.60x from 0.13x on Day 1.
| Category | Day 1 (31-08-2026) | Day 2 (01-09-2026) |
|---|---|---|
| QIB | 3.53x | 3.53x |
| NII (bHNI) | 0.24x | 0.85x |
| NII (sHNI) | 0.62x | 0.58x |
| Retail | 0.13x | 0.60x |
| Total | 1.17x | 1.46x |
Intra-day Timeline (01-09-2026)
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 3.53x | 0.58x | 0.60x | 1.46x |
About the Company
Phychem Technologies Limited manufactures rotational molding compounds, key raw materials for hollow plastic products. Founded in 2013, the company supplies customized polyethylene-based compounds to industries including construction, water management, and automotive. Promoter Umakant Nivrutti Savadekar leads the management team.
Financial Highlights
The company has shown consistent revenue growth over the last three years. Total equity has also expanded significantly.
| Particulars | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Revenue (₹ crores) | 46.97 | 50.30 | 56.47 |
| PAT (₹ crores) | 1.69 | 2.84 | 4.09 |
| Total Equity (₹ crores) | 6.86 | 9.70 | 13.79 |
Revenue grew from ₹46.97 crores in FY24 to ₹56.47 crores in FY26. Profit after tax more than doubled in the same period, reaching ₹4.09 crores.
Objects of the Issue
- Repayment of outstanding borrowings: ₹2.50 crores
- Procurement of plant and machinery: ₹5.15 crores
- Working capital requirements: ₹3.00 crores
- General Corporate Purpose: Unspecified amount
Risk Factors
- Dependence on a single manufacturing facility in Nashik poses operational risks.
- High customer concentration with top 10 clients contributing 50-53% of revenue.
- Supplier concentration risk with one supplier accounting for over 60% of purchases.
Key Dates
- Issue Open Date: 31-08-2026
- Issue Close Date: 02-09-2026
- Allotment Date: 03-09-2026
- Listing Date: 07-09-2026
Will the strong QIB oversubscription of 3.53x signal sustained institutional confidence post-listing, or is it driven by short-term arbitrage opportunities?
How might the company's heavy reliance on a single Nashik facility impact its ability to scale operations after deploying ₹5.15 crores for new plant and machinery?
Given that the top 10 clients contribute over 50% of revenue, what strategies is Phychem Technologies employing to diversify its customer base and mitigate concentration risk?
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