Phytochem Remedies IPO
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Phytochem Remedies IPO details
Schedule of Phytochem Remedies
| Issue open date | 18 Dec 2025 |
| Issue close date | 22 Dec 2025 |
| UPI mandate deadline | 22 Dec 2025 (5 PM) |
| Allotment finalization | 23 Dec 2025 |
| Refund initiation | 24 Dec 2025 |
| Share credit | 24 Dec 2025 |
| Listing date | 26 Dec 2025 |
| Mandate end date | 07 Jan 2026 |
| Lock-in end date for anchor investors (50%) | 22 Jan 2026 |
| Lock-in end date for anchor investors (remaining) | 22 Mar 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Phytochem Remedies
Phytochem Remedies (India) Limited is a manufacturer of high-quality corrugated packaging products. Incorporated in 2002, the company began manufacturing in 2014 and now operates two units in Bari Brahmana, Jammu, providing logistical advantages and significant expansion capacity. The company is promoted by Niranjan Surana, Shilpa Surana, Aditi Bohra, and Bohra Agrifilms Private Limited, whose leadership has guided its growth and modernisation. Phytochem specialises in corrugated boxes, rolls, sheets, and pads designed to meet sector-specific requirements. It supplies industries such as pharmaceuticals, agriculture, pesticides, automotive, and FMCG. Its production capabilities include a semi-automatic line and a modern, fully automatic corrugated board plant commissioned in 2022. The business operates on a manufacturing-to-order model, generating revenue by providing customised, durable, and cost-effective packaging solutions. Its strengths include a strong regional presence, established customer relationships, scalable infrastructure, and a focus on quality and timely delivery. With growing demand for packaging solutions across sectors, Phytochem is positioned to leverage its operational capabilities and expansion-ready facilities to support future growth.
Financials of Phytochem Remedies
Issue Size
| Funds Raised in the IPO | Amount |
|---|---|
| Total issue size | 38.22 |
| Fresh Issue – Proceeds go to the company | 38.22 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Capex for equipment/machinery | 13.6 (35.60%) |
| Funding capital expenditure towards civil construction | 5.88 (15.40%) |
| Repayment / pre-payment of certain borrowings | 9.37 (24.50%) |
| Issue-related expenses | 3.73 (9.80%) |
| General corporate purposes | 5.64 (14.80%) |
Strengths
- Strategic manufacturing presence in Jammu with ample unutilised land for future expansion.
- Diverse product portfolio offering customised corrugated packaging across multiple industries.
- Modern production setup, including a fully automatic corrugated board plant commissioned in 2022.
- Strong regional customer base with established long-term relationships.
- Promoter-led company with sector experience and consistent operational growth.
Risks
- High customer concentration, with significant revenue derived from top clients.
- Heavy dependence on suppliers without long-term agreements for raw materials.
- All manufacturing facilities are concentrated in Jammu, exposing operations to regional risks.
- Significant outstanding trade receivables and risk of delayed customer payments.
- Past periods showed negative cash flows, indicating potential liquidity challenges.