Phytochem Remedies IPO opens today, aims to raise ₹38cr
What's the story
Phytochem Remedies (India) Ltd has announced its initial public offering (IPO), which opens for subscription today. The company plans to raise ₹38.2 crore through the issue of 39 lakh fresh equity shares at a price of ₹98 each. The IPO will close on December 22 and the net proceeds will be used for capital expenditure requirements, debt repayment, and general corporate purposes.
Company profile
Diverse product range and financial performance
Founded in 2002, Phytochem Remedies is a leading manufacturer of corrugated boxes and boards. The company serves industries such as FMCG, food & beverages, pharmaceuticals, pesticides, and automotive. It has strategically located manufacturing units in Bari Brahmana, Jammu. In the fiscal year 2025 (FY25), the company reported a revenue of ₹36.53 crore with a profit after tax of ₹4.47 crore.
IPO management
IPO is managed by Mefcom Capital Markets
The IPO of Phytochem Remedies will be listed on the BSE SME platform. Mefcom Capital Markets Ltd has been appointed as the sole book-running lead manager for this public offering. The net proceeds from the fresh issue will be used to fund capital expenditure requirements for the purchase of equipment/machineries and civil construction, repayment of debt, and general corporate purposes.