Chemco Plastic launches ₹1,500cr IPO to meet capex, cut debt
Business
Chemco Plastic Industries, the company behind bottles and packaging for brands like Coca-Cola, Pepsico, and Bisleri, is going public with a ₹1,500 crore IPO.
The funds will help Chemco meet capex requirements and reduce debt.
Investment banks Equirus, Axis Capital and 360ONE are working on the deal.
Chemco processes over 1.25L tons annually
Since 1996, Chemco has made all kinds of plastic packaging (think PET bottles and containers) for big names like Nestle, HUL, P&G, and Dabur.
With presence in 23 locations in India and West Asia processing more than 1.25 lakh tons of plastic polymers annually, they're a major player in the packaging world.
Their IPO also comes as industrial listings are booming in India's recovering market: recently, similar companies saw huge demand from investors.