Phytochem Remedies is coming out with a fixed-price IPO worth ₹38.22 crore, and the entire issue consists of fresh shares. The company is offering around 0.39 crore equity shares to investors.
The IPO will open for subscription on December 18, 2025, and close on December 22, 2025. The allotment is likely to be finalised on December 23, 2025, and the shares are expected to list on the BSE SME platform on December 26, 2025.
The IPO price is fixed at ₹98 per share. Investors must apply in lots of 1,200 shares. For retail investors, the minimum application is 2 lots (2,400 shares), requiring an investment of ₹2,35,200. For HNI investors, the minimum application is 3 lots (3,600 shares), amounting to ₹3,52,800.
Mefcom Capital Markets Ltd. is the lead manager for the IPO, Bigshare Services Pvt. Ltd. is handling the registrar work, and Aftertrade Broking Pvt. Ltd. has been appointed as the market maker.
Phytochem Remedies IPO Objectives
The objectives are as follows:
- Funding the purchase of equipment and machineries amounting to ₹1,533.58 lakh, including ₹1,133.58 lakh from IPO proceeds and ₹400.00 lakh through internal accruals/borrowings.
- Meeting capital expenditure towards civil construction aggregating to ₹621.42 lakh, to be entirely funded from the IPO proceeds.
- Repayment/pre-payment of certain borrowings of the Company up to ₹915.00 lakh using IPO proceeds, along with utilisation of remaining funds for general corporate purposes (not exceeding regulatory limits).
About Phytochem Remedies
Phytochem Remedies is a leading manufacturer of corrugated packaging products, including boxes, rolls, pads, and sheets, providing customised packaging solutions across various industries. Incorporated in 2002, the company commenced manufacturing operations in 2014 and has steadily expanded its capabilities with modern production facilities.
The company operates two manufacturing units in Bari Brahmana, Jammu, offering strategic logistical advantages. While a portion of the total area is currently utilized, significant unutilised space remains available for future expansion and installation of new machinery.
Production initially began with a semi-automatic line and was enhanced in 2022 with a fully automated corrugated board plant, enabling higher efficiency and precision. Phytochem Remedies serves clients across pharma, FMCG, pesticides, packaging, and other sectors.
The company is ISO 9001:2015 certified and is led by experienced promoters, positioning it strongly for future growth and market expansion.
Industry Outlook
- India’s packaging industry is expanding rapidly, projected to grow from USD 50.5 billion in 2019 to USD 204.81 billion by 2025. This surge is driving demand for specialty coatings that enhance functionality, durability, and visual appeal of packaging materials.
- Increasing urbanization, convenience-driven consumption, and the e-commerce boom are boosting the need for durable, moisture- and UV-protected packaging. High-performance coatings are essential for food safety, extended shelf life, and safe transit.
- Growing environmental awareness and stricter regulations are accelerating adoption of eco-friendly coatings such as water-based, low-VOC, and bio-based solutions, supporting sustainable manufacturing and green packaging initiatives.
How To Apply for the Phytochem Remedies IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Phytochem Remedies IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Phytochem Remedies IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Phytochem Remedies IPO
Registered Office: Phytochem Remedies (India) Ltd. Address, 220, Ashok Nagar Main Road, Udaipur City, Girwa, Udaipur, Rajasthan, 313001
Phone: +91 294 4577549
Email: cs@phytochem.co.in
Phytochem Remedies IPO Reservation
| Investor Category | % of Shares Offered |
| Market Maker | 5.05% |
| NII (HNI) | 47.48% |
| Retail | 47.48% |
| Total | 100.00% |
Phytochem Remedies IPO Lot Size Details
| Application Category | Lots | Shares | Amount |
| Individual Investors (Retail) – Min | 2 | 2,400 | ₹2,35,200 |
| Individual Investors (Retail) – Max | 2 | 2,400 | ₹2,35,200 |
| HNI – Min | 3 | 3,600 | ₹3,52,800 |
Phytochem Remedies IPO Promoter Holding
The company’s promoters are Shilpa Surana, Niranjan Surana, Bohra Agrifilms Private Limited, and Aditi Bohra.
| Category | Holding (%) |
| Promoter Holding | 100.00% |
| Post-IPO Holding | 66.88% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Phytochem Remedies
| KPI Metric | Fiscal 2024 Value |
| Return on Capital Employed (RoCE) | 18.09% |
| Return on Equity (RoE) | 26.46% |
| EBITDA Margin | 17.91% |
| PAT Margin | 7.04% |
| Y-o-Y Revenue Growth | 57.67% |
Phytochem Remedies IPO Prospectus
Phytochem Remedies IPO Registrar and Lead Managers
Phytochem Remedies IPO Lead Managers
Mefcom Capital Markets Ltd.
Registrar for Phytochem Remedies IPO
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Financial Performance of Phytochem Remedies
| Financial Metric (₹ crore) | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 53.68 | 44.50 | 41.85 | 37.07 |
| Total Income | 25.01 | 36.81 | 32.90 | 20.83 |
| EBITDA | 6.72 | 8.69 | 5.88 | 2.91 |
| Profit After Tax (PAT) | 3.75 | 4.48 | 2.31 | 0.82 |
| Total Borrowing | 19.32 | 18.69 | 21.02 | 20.30 |
Phytochem Remedies Peer Comparison
| Company Name | Total Revenue (₹ lakh) | P/E Ratio | EPS (₹) | RoNW (%) | Profit After Tax (₹ lakh) |
| Phytochem Remedies (India) Ltd | 3,289.74 | — | 8.11 | 26.46 | 231.11 |
| Perfectpac Ltd | 10,150.31 | 17.98 | 5.98 | 11.42 | 398.13 |
| Worth Peripherals Ltd | 18,328.19 | 14.59 | 10.08 | 10.58 | 1,587.51 |
| G K P Printing & Packaging Ltd | 2,833.24 | NIL | (0.81) | (7.91) | (177.46) |
Strengths and Opportunities for Phytochem Remedies IPO
- Long-standing customer relationships ensure stable revenues, high retention, and strong entry barriers.
- Diverse blue-chip customers across pharma, FMCG, pesticides reduce concentration and demand risk.
- Strong revenue growth CAGR above 50% demonstrates scalability and consistent market acceptance.
- Modern automated manufacturing improves efficiency, quality, turnaround times, and lowers production costs.
- Significant unused land enables quick capacity expansion and new product line additions.
Risks and Threats for Phytochem Remedies IPO
- The company faces high customer concentration, with the top 10 customers contributing 54.84% of total revenue.
- It lacks long-term supplier contracts, exposing operations to supply disruptions and price volatility.
- The business is geographically concentrated in Jammu & Kashmir, increasing regional risk exposure.
- Manufacturing is dependent on a single location in Jammu, making operations vulnerable to disruptions.
- The company has reported negative cash flows in past periods, which may affect future growth.
