Snehaa Organics
Book Building issueSMENSE₹32.68 Cr issue
0.00%
Listing gain over issue price
Issue size
₹32.68 Cr
1 lot at cut-off
₹1,22,000
Lot size
1,000shares
Open
29 Aug 2025
Close
02 Sep 2025
Allotment
03 Sep 2025
Listing
05 Sep 2025
Listing performance
Issue price
₹122
Listed at
₹122
Listing-day close
₹115.90
Latest price
₹37
Close on 23 Oct 2026
Listing gain
0.00%
Return since issue
-69.67%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 29 Aug 2025 – 02 Sep 2025
- Listing date
- 05 Sep 2025
- Face value
- ₹10 per share
- Issue price
- ₹122 per share
- Lot size
- 1,000 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹32.68 Cr
- Market cap at offer price
- ₹124 Cr
- Promoter holding
- 99.99% → 73.68% pre-issue → post-issue
- ISIN
- INE1OIC01018
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Fast Track Finsec Pvt.Ltd.
- Registered office
- Plot No 290 & 291, Dulapally Adjacent to Ida Jeedimetla, Quthbullapur, Rangareddi, Telangana
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 1,34,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹122
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,22,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,44,000 |
| S-HNI (max) | 8 | 8,000 | ₹9,76,000 |
| B-HNI (min) | 9 | 9,000 | ₹10,98,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
0
Anchor portion
₹0 Cr
at ₹122 per share
Valuation and performance
Valuation at offer price
₹122 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 9.78 | 7.21 |
| P/E (×) | 12.47 | 16.92 |
| Price to book (×) | 0.83 | — |
| Market cap | — | ₹124 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 49.66%
- ROCE
- 50.38%
- Debt / equity
- 0.61
- PAT margin
- 27.98%
- EBITDA margin
- 43.52%
- NAV per share
- ₹147.76
- Price to book
- 0.83
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Snehaa Organics
Snehaa Organics Limited, incorporated as a Private Limited Company on July 5, 2022 (and converted to a Public Limited Company on January 7, 2025), operates in the solvent recovery and recycling business. The company collects spent solvents from various industries and employs distillation and purification technologies to process them for reuse. Originally established as a partnership firm M/s Snehaa Pharma Chemicals in October 2017, the company transitions solvents from waste streams into reusable products, serving industries such as pharmaceuticals, chemicals, and manufacturing. The company derives revenue primarily from job work charges, direct trade, and sale of distilled products, with majority operations concentrated in Telangana. The company's workforce processes diverse solvent mixtures through specialized equipment and trained personnel.
Company Analysis
from RHPSnehaa Organics Limited operates in the solvent recovery and recycling sector, providing sustainable solutions for industries through collection, distillation, and purification of spent solvents for reuse.
Snehaa Organics Limited, incorporated as a Private Limited Company on July 5, 2022 (and converted to a Public Limited Company on January 7, 2025), operates in the solvent recovery and recycling business. The company collects spent solvents from various industries and employs distillation and purification technologies to process them for reuse. Originally established as a partnership firm M/s Snehaa Pharma Chemicals in October 2017, the company transitions solvents from waste streams into reusable products, serving industries such as pharmaceuticals, chemicals, and manufacturing. The company derives revenue primarily from job work charges, direct trade, and sale of distilled products, with majority operations concentrated in Telangana. The company's workforce processes diverse solvent mixtures through specialized equipment and trained personnel.
Solvent recovery and recyclingPharmaceuticalChemicalsCoatings and paintsFood processingCleaning
Objects of the Issue
- To meet the Working Capital requirements of the Company ₹2,394.17 lakhs p.33
- Repayment of loans availed by our Company ₹350.00 lakhs p.33
- General Corporate Purposes p.33
- To meet the Issue Expenses p.33
- Working Capital Requirement ₹2,394.17 lakhs p.108
- Repayment of loans availed by our Company ₹350.00 lakhs p.108
- General Corporate Purposes p.115
- Issue Expenses p.108
- Not explicitly stated in this portion of the document
Issue Structure
- Total Issue
- Up to 26,79,000 Equity Shares of face value ₹10/- each
- Fresh Issue
- Up to 26,79,000 Equity Shares of face value ₹10/- each at a price of ₹[●] per equity share
- Offer for Sale
- NA
- Price Band
- ₹[●] (Floor Price) to ₹[●] (Cap Price)
- Lot Size
- [●]
- Face Value
- ₹10/- per equity share
Business Model
The company generates revenue through three primary channels: job work charges (processing solvents for customers), direct trade (purchasing and reselling solvents), and sale of distilled products (purified recovered solvents). The business model relies on collecting spent solvents from various industries, processing them through distillation and purification technologies, and either returning them to customers as purified products or selling them in the market. Working capital is utilized for inventory management of hazardous substances and trade receivables.
Business Segments
Processing of solvents collected from customers for purification and recovery, with the recovered solvents returned to customers
Purchasing and reselling of solvents in the market
Sale of purified and distilled solvents recovered from waste streams
The company distills and recycles industrial solvents and performs job work processing of pharmaceutical and chemical materials on behalf of clients.
Collection of spent solvents from customers, distillation and purification through packed distillation columns, and recovery of high-purity solvents for return to customers based on contracted recovery percentages, with excess solvents sold in open market
Direct sourcing and purchasing of spent solvents and raw solvents from suppliers, quality assessment, and direct sale of materials in the open market to identified customers
Marketing and sale of recovered and distilled solvents in the open market including ethyl acetate, toluene, acetone, dimethyl formamide, methanol, and other recovered specialty solvents
The company receives spent solvents from customers, distills them to recover pure products, and returns the processed material to customers at a markup. This segment represents a significant revenue stream and demonstrates the company's core distillation expertise.
Sale of distilled and manufactured pharma chemicals directly to end customers and through bulk distribution channels. Revenue from operations for FY2025 was Rs. 2,622.33 lakhs.
Sale of distilled solvents and manufactured products in bulk tankers to related entities such as Vestro Solvents Private Limited, Vedant Petrochem Private Limited, and TCR Chemicals for their onward distribution to end customers.
Recycling and distillation of industrial solvents from customers' waste streams and sale of recovered products
Trading and sale of purchased specialty chemicals and solvents including acetone, MDC, chloroform and other chemicals
Providing distillation services to customers on a job work basis for processing their solvents
SWOT Analysis
Strengths
- • Experienced management and qualified employee base with domain expertise in pharmaceuticals(p.119)
- • Strong and consistent financial performance with growing profitability(p.119)
- • Growing customer base in pharma sector(p.119)
- • Scalable and reliable business model(p.119)
- • Strategic location in Hyderabad, Telangana—the 'Bulk Drug Capital of India' and 'Vaccine Capital of the World'—providing proximity to pharmaceutical customers and skilled workforce.(p.218)
- • Established reputation in the pharmaceutical sector as a reliable supplier of recycled solvents, fostering trust and customer loyalty.(p.218)
- • Modern infrastructure with Y-type 2.5-stage sheet metal structured packings offering lower pressure drops and improved mass transfer efficiency.(p.218)
- • Promoter group has decade of experience in the pharmaceutical sector, providing domain expertise.(p.218)
- • Diversified product portfolio including high-margin solvents such as Acetonitrile, THF, and 2TB catering to pharmaceutical and emerging industries.(p.220)
- • Significant capacity expansion and improved operational efficiency(p.330)
- • Strong revenue growth and market expansion(p.330)
- • High profitability and profit margins(p.333)
- • Strong return on equity and capital efficiency(p.326)
- • Improved capacity utilization and operational scale(p.330)
- • Advanced quality control and automation infrastructure(p.330)
Weaknesses
- • Significant revenue concentration from top customers creates dependency risk(p.44)
- • Registered office and storage facilities held on lease, not owned(p.45)
- • High dependency on limited number of suppliers(p.46)
- • Geographic concentration of revenue in Telangana(p.46)
- • Potential conflict of interest with promoter group entities in similar business(p.47)
- • Significant related party transactions with potential conflicts of interest(p.47)
- • Manufacturing facility concentrated in single region (Sangareddy, Telangana)(p.49)
- • Very short span of operating history as a company(p.53)
- • High dependence on few customers for revenue generation(p.65)
- • Significant debt obligations requiring repayment from IPO proceeds(p.108)
- • Plant and operations concentrated in single location (Hyderabad, Telangana)(p.81)
- • Working capital intensive business model with substantial inventory and receivables requirements(p.110)
- • High dependence on local market with limited geographic diversification, posing revenue stability risks.(p.218)
- • Capital-intensive operations requiring ongoing significant investment in technology and infrastructure, potentially straining financial resources.(p.219)
- • Operational complexity from managing diverse chemical processes and strict environmental compliance requirements, leading to higher costs.(p.219)
- • No dedicated R&D team, relying on in-house optimization rather than formal research capabilities.(p.222)
- • MSME interest liability not accounted for due to lack of supplier confirmation(p.289)
- • Outstanding debtor and creditor confirmations not received(p.289)
- • High dependence on related party transactions(p.283)
- • Significant inventory build-up between periods(p.292)
- • Increased short-term borrowings indicating working capital pressure(p.292)
- • Significant increase in finished goods inventory creating working capital strain(p.331)
- • Increased finance costs and growing debt burden(p.333)
- • Dependence on few customers for substantial revenue(p.327)
- • High debt-to-equity ratio indicating leverage risk(p.316)
- • Pending GST liability and regulatory uncertainty(p.323)
Opportunities
- • Shift to purchase-and-process business model reducing reliance on job work(p.112)
- • Expansion of customer base through open market bidding and extended credit offerings(p.110)
- • India's pharmaceutical and chemical sector growth driven by government policy and demand(p.138)
- • Listing benefits including enhanced corporate image and brand strengthening(p.108)
- • Substantial potential for geographic expansion into new Indian states and international markets to capture new customer segments and reduce local market dependence.(p.219)
- • Forward integration into pharmaceutical manufacturing, leveraging demand for pharmaceutical-grade recycled solvents.(p.219)
- • Product diversification into new solvent products and related chemical services, particularly high-margin materials like Acetonitrile and THF.(p.219)
- • Growing demand for eco-friendly and recycled solvents driven by environmental regulations and sustainability goals across industries.(p.153)
- • Expansion in organic fertilizers and agricultural chemicals manufacturing(p.244)
- • Growing demand from job work customers for distillation services(p.284)
- • Leverage group company distribution networks across multiple states(p.284)
- • Expansion of product portfolio through acquisition of similar operations(p.244)
- • Expansion of direct trade business segment(p.334)
- • Growing demand for sustainable and eco-friendly solvent recycling solutions(p.334)
- • Further capacity expansion and operational scale-up potential(p.332)
- • Market consolidation and customer base growth(p.330)
- • Operational efficiency gains from technology and automation investments(p.331)
Threats
- • Risks from handling hazardous substances and regulatory compliance failures(p.47)
- • Regulatory risks from environmental and safety laws(p.50)
- • Changes in safety, health, environmental and labour laws could adversely affect business(p.50)
- • Dependency on pharmaceutical industry performance(p.54)
- • Fluctuations in raw material prices and supply shortages(p.54)
- • Slowdown in Indian economy could adversely affect business(p.63)
- • Natural or man-made disasters could adversely affect operations(p.63)
- • Dependency on electricity, fuel and water supply availability(p.62)
- • Vulnerability to freight cost fluctuations(p.60)
- • Fluctuations in Indian Rupee exchange rates affecting foreign investor returns(p.65)
- • Global economic volatility and financial market disruptions affecting Indian markets(p.65)
- • High inflation rates in India increasing operational costs without proportionate revenue increases(p.65)
- • Changing laws, regulations and adverse application of tax laws creating compliance uncertainties(p.65)
- • Foreign investment restrictions limiting ability to attract international investors(p.70)
- • Limited liquidity in newly listed shares affecting post-IPO trading and price volatility(p.66)
- • Regulatory changes in environmental regulations or pollution control policies could increase compliance costs and require significant operational adjustments.(p.219)
- • Over-reliance on pharmaceutical industry creates vulnerability to market instability and demand fluctuations in that sector.(p.219)
- • Intense competition from established and new entrants in the solvent recovery and recycling sector vying for market share.(p.220)
- • Volatility in raw material prices for key solvents like Acetonitrile, THF, and 2TB could impact profitability despite direct purchasing strategy.(p.220)
- • High employee attrition rate (24.56% in FY 2024-25) indicating retention challenges that could disrupt operations and increase recruitment costs.(p.223)
- • Hazardous chemical handling and storage regulations(p.225)
- • Environmental compliance obligations for pollution control(p.235)
- • Complex labor law compliance requirements(p.229)
- • Transportation regulations for hazardous chemicals(p.237)
- • Potential competition from group company operations in similar business(p.279)
- • Exposure to hazardous material handling risks(p.327)
- • Regulatory and compliance risks in pharmaceutical and chemical sectors(p.327)
- • Vulnerability to raw material price fluctuations and inflation(p.327)
- • Economic policy changes and foreign exchange risks(p.327)
- • Industry cyclicality and economic uncertainty(p.327)
- • Absence of long-term customer contracts(p.327)
- • Natural disaster and catastrophic event risks(p.327)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Nandigala Venkata Sai Harish | Promoter | 50% | 36.84% |
| Mr. Nandigala Venkata Sai Kiran | Promoter | 49.99% | 36.84% |
| Ms. Samhitha Reddy Tera | Promoter | — | — |
| Nandigala Venkata Sai Kiran | Promoter | 49.99% | 36.84% |
| Nandigala Venkata Sai Harish | Promoter | 50.00% | 36.84% |
| Ramasubba Reddy Nandigala | Promoter | — | — |
| Venkata Lakshmi Nandigala | Promoter | — | — |
| Nandigala Venkata Sai Harish | Promoter | — | — |
| Nandigala Venkata Sai Harish | Promoter | 50.00% | — |
| Nandigala Venkata Sai Kiran | Promoter | 49.99% | — |
| Samhitha Reddy Tera | Promoter | — | — |
| N. Venkata Sai Harish | Promoter | 50.00% | — |
| N. Venkata Sai Kiran | Promoter | 49.9999% | — |
| Nandigala Venkata Sai Kiran | Promoter | — | — |
Leadership
Mr. Nandigala Venkata Sai Kiran · Managing Director
Mr. Nandigala Venkata Sai Harish · Whole-Time Director
Ms. Samhitha Reddy Tera · Non-Executive Director
Ms. Poonam Jain · Company Secretary & Compliance Officer
Mr. Sarath Chandra Bhojanapalli · Chief Financial Officer
Ms. Khushbu Kachhawa · Independent Director
Ms. Gurprit Kaur · Independent Director
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Snehaa Organics IPO FAQs
What is the lot size of Snehaa Organics IPO?
The minimum lot size of Snehaa Organics IPO is 1,000 shares. One lot costs ₹1,22,000 at the cut-off price.
When does Snehaa Organics IPO open and close?
Snehaa Organics IPO opened for subscription on 29 Aug 2025 and closed on 02 Sep 2025.
What is the listing date of Snehaa Organics IPO?
Snehaa Organics IPO listed on 05 Sep 2025.