Phytochem Remedies' Rs 38.2-cr SME IPO to open on Thursday

New Delhi, Dec 17 (PTI) Corrugated boxes and boards manufacturer Phytochem Remedies (India) Ltd on Wednesday announced that its Rs 38.2 crore initial share sale will open for public subscription on December 18.

The initial public offering (IPO) will conclude on December 22. The IPO is entirely a fresh issue of 39 lakh equity shares at a price of Rs 98 per scrip worth Rs 38.22 crore.

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.

Incorporated in 2002, Phytochem Remedies is a manufacturer of corrugated boxes and corrugated board solutions, catering primarily to industries such as food & beverages, FMCG, pesticides, pharmaceuticals, and automotive.

The company operates from its strategically located manufacturing units in Bari Brahmana, Jammu.

Its products include corrugated boxes (3-ply, 5-ply, and 7-ply), printed corrugated boxes, corrugated rolls, and corrugated pads and sheets.

On the financial front, the company reported a revenue of Rs 36.53 crore and profit after tax of Rs 4.47 crore in FY 25.

The company's shares are proposed to be listed on the BSE SME.

Mefcom Capital Markets Ltd is the sole book-running lead manager for the IPO. PTI HG HG MR