The initial public offer (IPO) of Snehaa Organics received bids for 7,07,76,000 shares as against 26,79,000 shares on offer. The issue was subscribed 26.41 times.
The issue opened for bidding on 29 August 2025 and it closed on 02 September 2025. The price band of the IPO was fixed between Rs 115 to Rs 122 per share. The equity shares will list on NSE’s SME platform.
Qualified Institutional Buyers (QIBs) bid for 53,16,000 shares, Non-Institutional Investors (NIIs) for 1,97,60,000 shares, while Retail Individual Investors (RIIs) placed bids for 4,57,00,000 shares.
The IPO comprised fresh issue of 26,79,000 equity shares. The promoter and promoter group shareholding diluted to 73.68% from 99.99% pre-issue.
The company intends to utilize the net proceeds to meet the working capital requirements of the company, repayment of loans availed by the company, general corporate purposes and to meet the issue expenses.
Snehaa Organics operates in the solvent recovery and recycling sector, providing sustainable solutions for industries that utilize solvents in their processes. The company collects spent solvents from various industries and employs distillation and purification technologies to process them for reuse. The recovered solvents are returned to the respective companies for reuse, while the additional purified solvents are sold in the market, supporting resource efficiency and waste reduction.
Additionally, the company engages in direct trading of solvent, sourcing raw materials from suppliers, conducting quality assessments, and sold them in the open market. As of 31 July 2025, the company had total of 59 employees all of which are on payroll basis.
The company recorded revenue from operations of Rs 26.22 crore and net profit of Rs 7.34 crore for the period ended 31 March 2025.