Safex Chemicals (India) Limited

Safex Chemicals (India) Limited (NEW IPO): GMP, Price, Review, Profit

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Safex Chemicals (India) Limited is a speciality chemicals and agrochemical company that provides crop protection products and chemical solutions to farmers and global agrochemical companies. The company operates in three major segments – branded formulations, speciality chemicals, and contract development & manufacturing (CDMO).

Safex Chemicals has a distribution network of more than 14,000 active dealers and sells products across India through a nationwide distribution system. The company operates 7 manufacturing facilities in India and 1 in the UK, with presence in 22 countries across six continents, serving both domestic and global agrochemical markets.

Safex Chemicals (India) Limited was incorporated in 1991 & currently Mr. Neeraj Kumar Jindal serves as the Managing Director of the company.

Safex Chemicals (India) Limited has filed its DRHP with SEBI for a proposed IPO featuring a Fresh Issue of ₹ 450 Crore and Offer for Sale (OFS) of 35,734,818 Equity Shares.

Subscription date to apply for the IPO is yet to be announced. Price band for the IPO is also pending to be declared.

Check DRHP
Check IPO Allotment
Visit Official Website
Issue Size:₹ 450 Cr + 35,734,818 Equity Shares
Fresh Issue:₹ 450 Cr
Offer for Sale:35,734,818 Equity Shares
Price Range:TBA
Lot Size:TBA
GMPPending

Safex Chemicals (India) Limited important data points

Revenue, PAT, EBITDA

YearFiscal 2025
Networth₹ 611.46 Cr
Revenue:₹ 1584.78 Cr
EBITDA₹ 233.03 Cr
PAT₹ -14.28 Cr
EBITDA Margin:~14.70%
PAT Margin~ -0.90%
Face Value:₹ 10

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Subsidiary Investment₹ 109.99 Cr
Working Capital Requirement₹ 00 Cr
Borrowing prepayment/repayment₹ 255.58 Cr
General Corporate PurposeBalance

Safex Chemicals (India) Limited Financial Data

202320242025
Revenue (₹ Cr)₹ 1,161.0₹ 1,404.6₹ 1,584.8
PAT (₹ Cr)₹ -1.0₹ -22.8₹ -14.3
Asset (₹ Cr)₹ 1,905.2₹ 1,923.4₹ 2,084.4
Net Worth (₹ Cr)₹ 648.9₹ 626.1₹ 611.5

Safex Chemicals (India) Ltd IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
22-May₹ –₹ –₹ –
21-May₹ –₹ –₹ –
20-May₹ –₹ –₹ –
19-May₹ –₹ –₹ –
18-May₹ –₹ –₹ –
Safex Chemicals (India) Limited

Safex Chemicals (India) Limited Pro’s and Con’s

Strengths:

  • Diversified agrochemical portfolio across branded formulations, speciality chemicals, and CDMO services.
  • Strong distribution network with 14,000+ dealers supporting wide farmer reach in India.
  • Global presence with exports to 20+ countries and manufacturing facilities in India and the UK.
  • Growing agrochemical demand driven by increasing need for crop protection and higher farm productivity.
  • Backward integration & manufacturing capabilities helping improve margins and supply control.

Risks:

  • High dependence on agriculture sector, which is affected by monsoon and crop cycles.
  • Competitive agrochemical industry with strong players like UPL Limited and PI Industries.
  • Raw material price volatility can impact operating margins.
  • Regulatory risks due to strict approvals for agrochemicals in domestic and export markets.
  • Part of the IPO is Offer For Sale (OFS), meaning some proceeds will go to existing shareholders instead of the company.

Safex Chemicals (India) Limited Promoters – Pre offer equity (Approx)

Promoters%Shares
Neeraj Kumar Jindal~ 10.43 %
Piyush Jindal~ 10.43 %
Rajesh Kumar Jindal~ 9.63 %
Surinder Kumar Chaudhary~ 7.48 %
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Safex Chemicals (India) Limited Lot Size details

Application TypeLot SizeNo. of LotNo. of SharesInvestment Amount
Retail (Min)–1–₹ –
Retail (Max)–13–₹ –
HNI (Min)–14–₹ –
HNI (Max)–66–₹ –
Big HNI (Min)–67–₹ –

Lead Managers / Registrars of Safex Chemicals (India) Limited

Lead / Book Running Lead ManagersAxis Capital Limited,
SBI Capital Markets Limited,
JM Financial Limited,
Registrar (RTA)KFin Technologies Limited

Safex Chemicals (India) Limited FAQ’s

  • It is a specialty chemicals and agrochemical company providing crop-protection products, specialty chemicals, and CDMO services to farmers and global agrochemical companies across multiple countries.
  • Safex Chemicals is raising funds via IPO to repay company and subsidiary borrowings and strengthen the balance sheet, with the remaining funds allocated for general corporate purposes.
  • The issue size of the IPO comprises of ₹ 450 Cr as Fresh Issue + OFS of ~3.57 Cr equity shares. It will be listed on BSE and NSE platform.
  • Key risks include dependence on the agriculture sector, raw-material price volatility, regulatory approvals for agrochemicals, and intense competition in the specialty chemicals industry.
  • Upsides include safex benefits from diversified business segments, global presence in 22 countries, acquisitions-led growth, and strong agrochemical demand, which may support long-term revenue expansion.
  • Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

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