IPO Listed — 07 Sep 2026
Listing Price: ₹56
Phychem Technologies SME IPO GMP History | Listing Price ₹56 & Kostak Rate
Phychem Technologies SME IPO has been listed on September 7, 2026 at a listing price of ₹56, against the issue price of ₹54 — a gain of ₹2 (+3.7%). The GMP peaked at ₹3 on 30 August 2026 and reached a low of ₹1 on 7 September 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Phychem Technologies SME IPO raised ₹14.58 Cr. through its IPO at a price band of ₹51 to ₹54 per share, with a lot size of 2000 shares. The IPO was open for subscription from 31 Aug 2026 to 02 Sep 2026.
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 07 Sep 2026 | ₹ 1 | 1.85% | ₹ 0 | ₹ 0 | |
| 06 Sep 2026 | ₹ 1 | 1.85% | ₹ 0 | ₹ 0 | |
| 05 Sep 2026 | ₹ 1 | 1.85% | ₹ 0 | ₹ 0 | |
| 04 Sep 2026 | ₹ 1 | 1.85% | ₹ 0 | ₹ 0 | |
| 03 Sep 2026 | ₹ 1 | 1.85% | ₹ 0 | ₹ 0 | |
| 02 Sep 2026 | ₹ 1 | 1.85% | ₹ 0 | ₹ 0 | |
| 01 Sep 2026 | ₹ 1 | 1.85% | ₹ 0 | ₹ 0 | |
| 31 Aug 2026 | ₹ 1 | 1.85% | ₹ 0 | ₹ 0 | |
| 30 Aug 2026 | ₹ 3 | 5.56% | ₹ 0 | ₹ 0 | |
| 29 Aug 2026 | ₹ 3 | 5.56% | ₹ 0 | ₹ 0 | |
| 28 Aug 2026 | ₹ 3 | 5.56% | ₹ 0 | ₹ 0 | |
| 27 Aug 2026 | ₹ 3 | 5.56% | ₹ 0 | ₹ 0 | |
| 26 Aug 2026 | ₹ 3 | 5.56% | ₹ 0 | ₹ 0 |
Phychem Technologies SME IPO Dates
| Event | Date |
|---|---|
| Open Date | 31 Aug, 2026 |
| Close Date | 02 Sep, 2026 |
| Allotment Date | 03 Sep, 2026 |
| Refund Date | 04 Sep, 2026 |
| Credit to Demat | 04 Sep, 2026 |
| Listing Date | 07 Sep, 2026 |
Phychem Technologies SME IPO Actual Listing Price
| Basis | Value |
|---|---|
| Issue Price | ₹54 |
| GMP-Based Estimate (Pre-Listing) | ₹55 (+1.9%) |
| Actual Listing Price | ₹56 (+3.7%) |
| Listing Gain / Loss | +₹2 per share |
| Listing Date | 07 Sep, 2026 |
Is Phychem Technologies SME IPO GMP Reliable?
Grey market premium for Phychem Technologies SME IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the Phychem Technologies SME IPO full review for a fundamentals-based assessment before making any grey market trades.
Phychem Technologies SME IPO IPO Kostak Rate Explained
The Kostak rate for Phychem Technologies SME IPO was not active during the subscription period, as no grey market premium was established. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not active for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Phychem Technologies SME IPO
The company makes customised polyethylene based compounds using LLDPE, HDPE and special additives, and supplies them as powder or granules to rotational moulding manufacturers. The end products made from its compounds include water, fuel and chemical storage tanks, portable toilets, furniture, industrial containers and other custom hollow plastic parts. It also makes specialised compounds such as foam, stone effect, flame retardant, anti static and custom coloured compounds, and makes custom moulded tanks itself.
Apart from this it does rotolining and toll pulverising jobwork, and distributes chemicals, compounds, tools and equipment used in the roto moulding trade. Its customers are in building and construction, water management, agriculture, automotive and consumer products, and it exports to several countries across Asia, Africa, Europe and the Middle East. Its factory is in Nashik, Maharashtra, with its own laboratory and quality control department. It is ISO 9001:2015 certified, is recognised as a One Star Export House and is a member of PLEXCONCIL. As on 30 June 2026 it had 33 permanent employees.
Strengths & Risks
Strengths
- ✓ Profit has more than doubled in two years, from Rs 1.32 crore in FY2023 to Rs 1.69 crore in FY2024 and Rs 2.84 crore in FY2025.
- ✓ Sales have grown every year, from Rs 43.19 crore in FY2023 to Rs 47.59 crore in FY2024 and Rs 51.11 crore in FY2025.
- ✓ EBITDA more than doubled over the same period, from Rs 1.84 crore to Rs 4.37 crore.
- ✓ Return ratios are high, with RoCE of 31.99% and RoNW of 29.30%.
- ✓ The issue is priced moderately at about 19.42 times earnings on an EPS of Rs 2.78.
- ✓ Borrowing came down from Rs 5.61 crore in FY2024 to Rs 4.59 crore in FY2025.
- ✓ The product range is wide for a company of this size, covering standard compounds, specialty compounds such as flame retardant and anti static, custom moulded tanks and jobwork services.
- ✓ It exports across Asia, Africa, Europe and the Middle East, and holds ISO 9001:2015 certification along with One Star Export House recognition.
Risks
- ⚠ The financial data is old for an issue opening in August 2026. The latest year given is FY2025, ending 31 March 2025, so there is no FY2026 figure to judge recent performance.
- ⚠ This is a very small company. Net worth was Rs 9.70 crore as on 31 March 2025 and it had only 33 permanent employees.
- ⚠ The profit margin is thin at 5.65%, which is normal for a compounding business where the polymer is most of the cost.
- ⚠ The main raw materials, LLDPE and HDPE, are crude oil linked. A sharp rise in polymer prices that cannot be passed on will cut margin quickly.
- ⚠ The whole business runs from one factory in Nashik, so any problem at that single location stops everything.
- ⚠ Its customers are rotational moulding manufacturers, which is a narrow industry. If that trade slows down, there is no other customer base to fall back on.
- ⚠ The issue is small at Rs 14.58 crore, which usually means limited trading interest after listing.
- ⚠ Promoter holding will come down from 98.55% to 72.56% after the issue.
- ⚠ This is an SME issue. One lot is 2,000 shares, which is about Rs 1.08 lakh at the upper band of Rs 54, and SME shares usually trade in low volume after listing.
Frequently Asked Questions about Phychem Technologies SME IPO
What is the GMP of Phychem Technologies SME IPO?
The current Grey Market Premium (GMP) of Phychem Technologies SME IPO is ₹ 1.
What is the Kostak Price of Phychem Technologies SME IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Phychem Technologies SME IPO is currently not available.
What is the Subject to Sauda Price of Phychem Technologies SME IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What was the actual listing price of Phychem Technologies SME IPO?
Phychem Technologies SME IPO listed on September 7, 2026 at ₹56, against the issue price of ₹54 — a gain of +3.7%.
How did the GMP of Phychem Technologies SME IPO trend before listing?
The GMP of Phychem Technologies SME IPO was stable in its final days before listing. The GMP peaked at ₹3 on 30 August 2026. View the day-wise table above for the complete GMP history.
Explore Phychem Technologies SME IPO Further
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