The Phytochem Remedies (India) IPO is an SME IPO that will issue a total of 39,00,000 shares amounting to ₹38.22 crore. The face value is ₹10 per share. It is a fixed price issue at ₹98 per share. Investors can start bidding in this IPO from December 18, 2025. The IPO will close on December 22, 2025. The tentative date of allotment is December 23, 2025. As per the schedule, the listing date is December 26, 2025.
The IPO lot size is 1,200 shares. The minimum bid starts for retail investors at ₹2,35,200 for 2 lots. The HNI category will have to bid for a minimum of 3 lots, which means their minimum investment will be ₹3,52,800.
Phytochem Remedies (India) IPO Details
The key information of this IPO is as follows:
| Particulars | Details |
| Bidding Opens | December 18, 2025 |
| Bidding Closes | December 22, 2025 |
| Face value | ₹10 per share |
| Price Band | |
| Issue price | ₹98 per share |
| IPO Lot Size | 1,200 shares |
| Issue Type | Fixed Price Issue |
| Offer for sale | |
| Fresh Issue | 39,00,000 shares (₹38.22 crore) |
| Total Issue | 39,00,000 shares (₹38.22 crore) |
| Listing at | BSE SME |
| Minimum Investment | ₹2,35,200 |
Phytochem Remedies (India) IPO Timeline
The scheduled timeline of this IPO is as follows:
| Particulars | Details |
| Bidding Opens | December 18, 2025 |
| Bidding Closes | December 22, 2025 |
| UPI mandate cut-off time | 5 PM on December 22, 2025 |
| Scheduled Allotment | December 23, 2025 |
| Refund Initiation | December 24, 2025 |
| Demat Credit of shares to the demat | December 24, 2025 |
| Listing Expected | December 26, 2025 |
Phytochem Remedies (India) Key Performance Indicator
The Phytochem Remedies (India) Key Performance Indicators (KPIs) are:
| KPIs | FY 2023 | FY 2024 | FY 2025 |
| ROE (%) | 12.75 | 26.46 | 34.07 |
| ROCE (%) | 11.87 | 18.09 | 25.29 |
| Debt Equity (times) | 3.16 | 2.41 | 1.42 |
| RoNW (%) | 12.75 | 26.46 | 34.07 |
| PAT Margin (%) | 3.93 | 7.04 | 12.25 |
| EBITDA margin (%) | 13.99 | 17.91 | 23.78 |
| Price Book Value | – | – | 2.35 |
Phytochem Remedies (India) Financials
The Phytochem Remedies (India) financials are as follows:
| Particulars (in ₹ lakh) | FY 2023 | FY 2024 | FY 2025 |
| Revenue | 2,082.57 | 3,289.74 | 3,681.01 |
| Total Asset | 3,706.86 | 4,185.41 | 4,450.12 |
| Profit | 81.89 | 231.11 | 447.67 |
Phytochem Remedies (India) IPO Subscription status
The IPO shares subscription is as follows:
| Day | NII | Individual Investor | Total |
| Day 1 | |||
| Day 2 | |||
| Day 3 |
Phytochem Remedies IPO Grey Market Premium
At present, the Phytochem Remedies (India) IPO is quoting at a GMP of ₹0, indicating subdued grey market activity and a neutral market mood after listing.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 16-12-2025 | ₹0 | ₹98 | 0% | Neutral |
| 15-12-2025 | ₹0 | ₹98 | 0% | – |
Note: The GMP figures are derived from unofficial market sources and may vary with investor interest, subscription levels, and overall market conditions.
Phytochem Remedies (India) IPO Reservation
The share reservation of this IPO is given below:
| Investor Category | Reservation |
| Market Maker | 1,96,800 (5.05%) |
| NII (HNI) Shares | 18,51,600 (47.48%) |
| Retail Shares | 18,51,600 (47.48%) |
| Total Shares | 39,00,000 (100.00%) |
Phytochem Remedies (India) IPO Lot Size
Investors may apply under the following lot size options:
| Application | Lots | Shares | Amount |
| Retail Investors (Minimum) | 2 | 2,400 | ₹2,35,200 |
| Retail Investors (Maximum) | 2 | 2,400 | ₹2,35,200 |
| HNI (Minimum) | 3 | 3,600 | ₹3,52,800 |
Anchor Investors Details of Phytochem Remedies (India) IPO
Phytochem Remedies (India) Ltd.’s SME IPO does not have any anchor investors. They have opted for a fixed-price structure with allocation to HNIs/Retail and a market maker, relying on strong retail participation rather than institutional backing for its small issue size.
Phytochem Remedies (India) IPO Prospectus
Additional IPO details are available in the files given below:
| Draft Red Herring Prospectus (DRHP) | |
| Red Herring Prospectus (RHP) | |
| Anchor Investors | – |
| Final Prospectus | Not Disclosed |
About Phytochem Remedies (India)
Founded in 2002, Phytochem Remedies (India) Ltd. operates from Bari Brahmana, Jammu. The company manufactures a wide range of corrugated packaging solutions such as sheets, rolls, and boxes, serving sectors including FMCG, pharmaceuticals, agriculture, pesticides, and automotive. The company is led by its Chairman and Managing Director, Mr. Niranjan Surana, along with other promoters – Ms. Aditi Bohra, Bohra Agrifilms Private Limited, and Ms. Shilpa Surana.
Phytochem Remedies has strengthened its market presence through modern manufacturing infrastructure, automated production lines, and a focus on quality standards. The company operates within the corrugated packaging and industrial packaging sector, competing with industry peers such as Perfectpac Ltd, Worth Peripherals, and G K P Printing & Packaging Ltd. It continues to expand its operational footprint with scalable capacity, regional distribution networks, and long-standing customer relationships.
| Lead Manager | Mefcom Capital Markets Ltd. |
| Issue Registrar | Bigshare Services Pvt.Ltd. |
Objectives of the Phytochem Remedies (India) IPO
The funds raised will be utilised for the following key objectives:
| S. No. | Objectives | Amount (in ₹ crore) |
| 1. | Purchase of equipment and a machine | 13.60 |
| 2. | Expenditure on civil construction | 5.88 |
| 3. | Repayment or pre-payment of loans | 9.37 |
| 4. | General corporate uses | 5.64 |
Strength Of Phytochem Remedies (India)
The company’s strengths are driven by customer loyalty, consistent financial growth, scalable manufacturing capabilities, diversified products, and strategic location advantages.
- Customer Relationships: Long-standing relationships with a diverse and stable customer base support recurring revenues, high retention levels, and strong market positioning across multiple end-use industries.
- Consistent Financial Growth: The company has demonstrated steady growth in revenue, profitability, and margins over recent years, reflecting operational efficiency and disciplined financial management.
- Scalable Manufacturing and Technology Focus: Well-established manufacturing facilities with improving capacity utilisation, automation, and significant unutilised land provide readiness for future expansion and technological upgrades.
- Diversified Portfolio Mix:
A wide range of corrugated packaging solutions, including boxes, rolls, sheets, and customised designs, caters to varied industry applications such as agriculture, pharmaceuticals, FMCG, and pesticides. - Strategic Manufacturing Location: Manufacturing units located in a well-connected industrial hub enable efficient logistics, smoother operations, and faster response to customer requirements.
Risk of Phytochem Remedies (India)
The company’s operations and financial performance are subject to customer concentration, supply chain dependencies, and other operational risks.
- Concentrated Earnings: Revenues are heavily dependent on a few key customers, and any loss or reduction in business from them could negatively affect cash flows and overall financial performance
- Supplier Dependency: Dependence on a few suppliers without contracts exposes the company to supply disruptions, price fluctuations, and margin pressure.
- Manufacturing Concentration: The company’s operations are dependent on two manufacturing units located in Jammu, exposing the business to regional, regulatory, and operational disruptions.
- Industry Cyclicality: Demand for corrugated packaging is linked to broader industrial and consumer activity; any slowdown may reduce order volumes, revenue and profitability.
Phytochem Remedies (India) IPO Review
Phytochem Remedies (India) IPO offers exposure to the corrugated packaging segment with strong revenue and profit growth over recent years. Rising margins, improving ROE and ROCE, and declining debt reflect better operational efficiency. The company benefits from diversified end-use industries and scalable manufacturing infrastructure. However, customer concentration, supplier dependence, and a flat GMP indicate moderate near-term listing expectations. This SME IPO may suit investors seeking long-term growth potential with an understanding of small-cap business risks.
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Phytochem Remedies (India) IPO FAQs
It is an SME IPO of 39,00,000 equity shares aggregating up to ₹38.22 crores. The issue price is ₹98, and the IPO will list on BSE SME.
Investors can apply through ASBA or UPI using their broker, trading app, or supported banking platforms.
The IPO offers exposure to a growing packaging manufacturer; suitability depends on individual risk appetite and SME IPO preferences.
With a current GMP of ₹0, the expected listing returns appear neutral at present.
The Phytochem Remedies (India) IPO will open on December 18, 2025.
The lot size of the Phytochem Remedies (India) IPO is 1,200 shares.
The allotment of Phytochem Remedies (India) IPO is on December 23, 2025.
The Phytochem Remedies (India) IPO listing date is December 26, 2025.
