In December 2025, India’s IPO market continues to witness steady participation, particularly in the SME segment, as companies across manufacturing and packaging solutions look to raise growth capital. Improved investor sentiment and stable secondary markets have encouraged several businesses to tap public markets, with SME IPOs drawing attention due to their focused operations and expansion-driven objectives.
Against this backdrop, Phytochem Remedies (India) Limited is set to open its IPO on December 18, 2025. Here is a detailed overview of Phytochem Remedies (India) Ltd., its IPO details, financial performance, and business outlook.
About Phytochem Remedies (India) Ltd.
Incorporated in 2002, Phytochem Remedies (India) Limited is engaged in the manufacturing of corrugated boxes and corrugated board solutions. The company primarily caters to –
- Food & Beverages Sector
- FMCG Sector
- Pesticides Sector
- Pharmaceuticals Sector
- Automotive Sector
The company operates from Bari Brahmana, Jammu, through two manufacturing units. Unit 1 has a total allocated area of 43,360 sq. ft., while Unit 2 has an allocated area of 1,73,440 sq. ft., with scope for capacity expansion. As of September 30, 2025, the company employed 51 personnel.
Product Portfolio
- Corrugated Boxes (3-Ply, 5-Ply, and 7-Ply)
- Printed Corrugated Boxes
- Corrugated Rolls
- Corrugated Pads and Sheets
Phytochem Remedies (India) IPO Details
Phytochem Remedies IPO is a fixed price issue of ₹38.22 crore, comprising a fresh issue of 0.39 crore shares. The issue opens for subscription on December 18, 2025, and closes on December 22, 2025.
The company plans to utilise the IPO proceeds primarily towards capital expenditure, repayment of borrowings, and general corporate purposes.
Important IPO Timeline
| Event | Date |
| IPO Open Date | December 18, 2025 |
| IPO Close Date | December 22, 2025 |
| Allotment Date (Tentative) | December 23, 2025 |
| Initiation of Refunds | December 24, 2025 |
| Credit of Shares to Demat | December 24, 2025 |
| Listing Date (Tentative) | December 26, 2025 |
| Cut-off Time for UPI Mandate | 5 PM on December 22, 2025 |
Key IPO Details
| Particulars | Details |
| IPO Date | Thu, Dec 18, 2025 to Mon, Dec 22, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹98 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 39,00,000 shares (aggregating up to ₹38.22 Cr) |
| Reserved for Market Maker | 1,96,800 shares (aggregating up to ₹1.93 Cr) Aftertrade Broking Pvt.Ltd. |
| Net Offered to Public | 37,03,200 shares (aggregating up to ₹36.29 Cr) |
| Share Holding Pre-Issue | 78,75,000 shares |
| Share Holding Post Issue | 1,17,75,000 shares |
Mefcom Capital Markets Ltd. is the book-running lead manager, and Bigshare Services Pvt. Ltd. is the registrar of the issue. The Market Maker of the company is Aftertrade Broking Pvt. Ltd.
Phytochem Remedies IPO Reservation
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 1,96,800 (5.05%) |
| NII (HNI) Shares Offered | 18,51,600 (47.48%) |
| Retail Shares Offered | 18,51,600 (47.48%) |
| Total Shares Offered | 39,00,000 (100.00%) |
Lot Size of Phytochem Remedies IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 2,400 | ₹2,35,200 |
| Retail (Max) | 2 | 2,400 | ₹2,35,200 |
| HNI (Min) | 3 | 3,600 | ₹3,52,800 |
Phytochem Remedies (India) Ltd. Financials
The company has demonstrated steady financial improvement, with revenue increasing by 12% and profit after tax rising by 94% between FY24 and FY25.
Key Company Financials (₹ in Crore)
| Period Ended | 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 |
| Profit After Tax | 3.75 | 4.48 | 2.31 | 0.82 |
| Net Worth | 16.89 | 13.14 | 8.74 | 6.42 |
| Reserves and Surplus | 9.02 | 9.99 | 5.51 | 3.20 |
| Total Borrowing | 19.32 | 18.69 | 21.02 | 20.30 |
Key Performance Indicators (KPI)
As of March 31, 2025, the company’s key performance metrics are as follows:
| KPI | Value |
| ROE | 34.07% |
| ROCE | 25.29% |
| Debt/Equity | 1.42 |
| RoNW | 34.07% |
| PAT Margin | 12.25% |
| EBITDA Margin | 23.78% |
| Price to Book Value | 2.35 |
Valuation Metrics
| Metric | Pre IPO | Post IPO |
| EPS (₹) | 5.68 | 6.38 |
| P/E (x) | 17.24 | 15.37 |
| Promoter Holding | 100% | 66.88% |
Aditi Bohra, Bohra Agrifilms Private Limited, Niranjan Surana and Shilpa Surana are the promoters of the company.
Objects of the Issue
The company proposes to utilise the net proceeds from the IPO towards:
| S.No. | Objects of the Issue | Amount (₹ Cr) |
| 1 | Purchase of equipment and machinery | 13.60 |
| 2 | Civil construction expenditure | 5.88 |
| 3 | Repayment or prepayment of borrowings | 9.37 |
| 4 | General corporate purposes | 5.64 |
Phytochem Remedies (India) IPO: Peer Comparison
Phytochem Remedies (India) IPO can be compared with peers such as Holostik India Ltd, Parksons Packaging Ltd, TCPL Packaging Ltd, and Manjushree Technopack Ltd. Reviewing these companies helps investors assess Phytochem Remedies’ position within the corrugated packaging and paper-based packaging segment and better understand its scale, profitability, and growth potential relative to established players in the industry.
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Conclusion
Phytochem Remedies (India) Ltd. operates in the corrugated packaging segment, supplying packaging solutions to multiple end-use industries. The IPO is a fixed price SME issue focused on capacity enhancement, balance sheet strengthening, and long-term operational growth. While the company has shown consistent financial improvement and diversified industry exposure, investors should evaluate factors such as scale of operations, leverage levels, and execution of expansion plans before making an investment decision.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
