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Phytochem Remedies (India) IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
Phytochem Remedies (India) Limited is engaged in the manufacturing of corrugated boxes, sheets, rolls and packaging goods. The company earns revenue by supplying customized packaging solutions primarily to pharmaceuticals, agriculture, pesticides, FMCG and automotive sectors. Its products are used for storage, protection and transportation of goods. Revenue from operations stood at ₹3,653.62 lakh in FY25, growing at a CAGR of 32.46% from FY23 to FY25.
Phytochem Remedies, an Book Built Issue, amounting to ₹38.22 Crore,consisting entirely an fresh issue of 0.39 crore shares of ₹38.22 Crore.The subscription period for the Phytochem Remedies IPO opens on December 18, 2025, and closes on December 22, 2025. The allotment is expected to be finalized on or about Tuesday, December 23, 2025., and the shares will be listed on the BSE SME with a tentative listing date set on or about Friday, December 26, 2025.
The Share Price Band of Phytochem Remedies IPO is set at ₹98 per share per equity share. The Market Capitalisation of the Phytochem Remedies at IPO price of ₹98 per equity share will be ₹
115.40 Cr. Crores. The lot size of the IPO is 1200 shares. Retail investors are required to invest a minimum of ₹
235,200, 2 lots ( 2400 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is
3 lots (
3600 shares), amounting to ₹
352,800.
Mefcom Capital Markets Limited are the book running lead manager of the Phytochem Remedies Ltd. while Bigshare Services Private Limited is the registrar for the issue. The Market Maker of the company is Aftertrade Broking Pvt.Ltd.
Phytochem Remedies India Limited IPO GMP Today
The Grey Market Premium of Phytochem Remedies IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
Phytochem Remedies Limited IPO Live Subscription Status Today: Real-Time Update
As of 07:30 PM on 22 December, 2025, the Phytochem Remedies IPO live subscription status shows that the IPO subscribed 0.57 times on its Final Day of subscription period. Check the Phytochem Remedies IPO Live Subscription Status Today at BSE.
Phytochem Remedies Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Phytochem Remedies IPO allotment date is 23 December 2025, Tuesday, Phytochem Remedies IPO Allotment will be out on 23 December 2025, Tuesday.and will be live on Registrar Website from the allotment date.
Check Bigshare Services Private Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Phytochem Remedies IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of Phytochem Remedies Limited IPO
Phytochem Remedies to utilise the Net Proceeds towards the following objects:
1. ₹1360.00 Lakh is required for Funding capital expenditure requirements for the purchase of equipment/machineries
2. ₹588.18 Lakh is required for Funding capital expenditure requirements towards civil construction
3. ₹937.43. Lakh is required for Repayment/pre-payment, in full or in part, of certain borrowings availed by our Company
4. ₹564.37. Lakh is required for General Corporate Purpose
Refer to Phytochem Remedies Limited RHP for more details about the Company.
Phytochem Remedies (India) Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|---|---|---|---|
| December 15, 2025 | N/A | N/A | ₹0(0.0%) | 15 December 2025; 01:25 PM |
| December 15, 2025 | N/A | N/A | ₹0(0.0%) | 17 December 2025; 10:31 AM |
| December 15, 2025 | N/A | N/A | ₹0(0.0%) | 18 December 2025; 11:07 AM |
| December 15, 2025 | N/A | N/A | ₹0(0.0%) | 22 December 2025; 11:00 AM |
Phytochem Remedies (India) IPO Details
| Market Capitalization | ₹115.40 Cr. |
| IPO Date | December 18, 2025 to December 22, 2025 |
| Listing Date | December 26, 2025 |
| Face Value | ₹10 Per Share |
| Price Band | ₹98 per share |
| Issue Price | ₹98 per share |
| Employee Discount | NA |
| Lot Size | 1200 Equity Shares |
| Total Issue Size | 39,00,000 Equity Shares (aggregating to ₹38.22Cr) |
| Fresh Issue | 39,00,000 Equity Shares (aggregating to ₹38.22Cr) |
| Offer for Sale | NA |
| Issue Type | Fixed Price Issue |
| Listing At | BSE SME |
| Share holding pre issue | 78,75,000 |
| Share holding post issue | 1,17,75,000 |
| Rating | Avoid |
Phytochem Remedies (India) IPO Anchor Investors Details
| Bid Date | N/A |
| Shares Offered | N/A |
| Anchor Portion Size (In Cr.) | N/A |
| Anchor lock-in period end date for 50% shares (30 Days) | N/A |
| Anchor lock-in period end date for remaining shares (90 Days) | N/A |
Phytochem Remedies (India) IPO Timeline (Tentative Schedule)
| IPO Open Date | Thu, Dec 18, 2025 |
| IPO Close Date | Mon, Dec 22, 2025 |
| Basis of Allotment | Tue, Dec 23, 2025 |
| Initiation of Refunds | Wed, Dec 24, 2025 |
| Credit of Shares to Demat | Wed, Dec 24, 2025 |
| Listing Date | Fri, Dec 26, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Dec 22, 2025 |
Phytochem Remedies (India) IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | - | - |
| Non-Institutional Investor Portion | 1,851,600 | Not less than 50% of the Net Offer |
| Retail Shares Offered | 1,851,600 | Not less than 50% of the Net Offer |
| Market Maker Portion | 196,800 | - |
Phytochem Remedies (India) IPO Promoter Holding
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 66.88% |
Phytochem Remedies (India) IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹235,200 |
| Retail (Max) | 2 | 2,400 | ₹235,200 |
| S-HNI (Min) | 3 | 3,600 | ₹352,800 |
| S-HNI (Max) | 8 | 9,600 | ₹940,800 |
| B-HNI (Min) | 9 | 10,800 | ₹1,058,400 |
Phytochem Remedies (India) IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | - | - | 0x | 15 December 2025; 03:33 PM |
| Non Institutional Investors(NIIS) | 18,51,600 | 5,67,600 | 0.31x | 23 December 2025; 10:36 AM |
| Retail Individual Investors (RIIs) | 18,51,600 | 15,45,600 | 0.83x | 23 December 2025; 10:36 AM |
| Total | 37,03,200 | 21,13,200 | 0.57x | 23 December 2025; 10:36 AM |
About Phytochem Remedies (India) Limited
Phytochem Remedies (India) Limited is engaged in the manufacturing of corrugated boxes, sheets, rolls and packaging goods. The company earns revenue by supplying customized packaging solutions primarily to pharmaceuticals, agriculture, pesticides, FMCG and automotive sectors. Its products are used for storage, protection and transportation of goods. Revenue from operations stood at ₹3,653.62 lakh in FY25, growing at a CAGR of 32.46% from FY23 to FY25.
Key Clients and Manufacturing Facilities
The company supplies corrugated packaging products to customers across pharmaceuticals, agriculture, FMCG, pesticides and automotive industries. Phytochem operates two manufacturing units located at Lane No. 5, Phase 2, SIDCO Industrial Complex, Bari Brahmana, Jammu. Unit I has an allocated area of 43,360 sq. ft., while Unit II spans 1,73,440 sq. ft., offering logistical advantages and scalable production capacity.
Product Portfolio and Order Execution
The product portfolio includes printed corrugated boxes, sheets, rolls, pads and customized packaging solutions. These products lie in the primary and secondary packaging lifecycle of clients, ensuring product protection and efficient logistics. The company follows an order-based manufacturing model with steady execution supported by in-house facilities. Revenue growth from ₹2,082.35 lakh in FY23 to ₹3,653.62 lakh in FY25 indicates strong order execution capabilities.
Mergers, Capex and Expansion Plans
There are no mergers reported in the prospectus. The company has invested steadily in plant and machinery, with tangible assets of ₹1,892.43 lakh as of March 31, 2025. Future expansion plans focus on capacity utilization, operational efficiency and scaling production from existing units, supported by internal accruals and IPO proceeds. The expansion aligns with growing demand from packaging end-user industries.
Employees and Banker
As of September 30, 2025, we had 51 employees. The Banker to the Company is Punjab and Sind Bank Limited, Bank of India Limited.
Management and Growth Vision
The management aims to strengthen its position as a reliable corrugated packaging manufacturer by focusing on quality, customization and operational efficiency. Near-term goals include improving capacity utilization and servicing existing clients more effectively. Long-term targets involve scaling revenues through industry expansion and geographic reach. Funding for capex and expansion will be arranged through internal accruals and proceeds from the IPO, minimizing excessive leverage.
Industry Overview
The company operates in the corrugated packaging industry, which serves FMCG, pharmaceuticals, agriculture and industrial sectors. In India, corrugated packaging demand is driven by organized retail, e-commerce and manufacturing growth. The Indian packaging industry is expected to grow at high single-digit to low double-digit rates annually. Globally, packaging demand continues to expand with sustainability focus. Major players include large integrated packaging manufacturers, while SMEs dominate regional markets.
Key Risk Factors
- Customer Concentration Risk
A significant portion of revenue is derived from a limited number of customers. Loss of key clients or reduced order volumes could adversely affect revenues, cash flows and profitability. - Geographical Concentration Risk
Manufacturing facilities are concentrated in Jammu. Any disruption due to regional, political or operational issues may impact production and supply timelines. - Raw Material Price Volatility
The company does not have long-term raw material contracts. Fluctuations in kraft paper prices may affect margins and operating performance. - Manufacturing and Operational Risk
Any shutdown, machinery failure or labor unrest could disrupt operations and impact order execution and customer relationships. - Litigation Risk
The company and its promoters are involved in certain legal proceedings. An adverse outcome may affect financial position and reputation. - Economic and Industry Cyclicality
Demand for packaging products depends on overall economic activity. Slowdown in FMCG, agriculture or manufacturing sectors could impact growth.
Key Strengths, Moat and Opportunities
- Strong Revenue Growth
The company reported a revenue CAGR of 32.46% from FY23 to FY25, indicating strong demand and effective execution capabilities. - Established Manufacturing Infrastructure
Two operational manufacturing units with significant floor area enable consistent production, scalability and timely delivery to customers. - Diversified End-User Industries
Serving pharmaceuticals, agriculture, FMCG and automotive sectors reduces dependency on a single industry cycle. - Customization Capability
Ability to provide customized corrugated packaging solutions strengthens client relationships and repeat business. - Operational Efficiency
Improving asset utilization and controlled cost structure have supported rising profitability, with PAT of ₹447.67 lakh in FY25. - Industry Tailwinds
Growth in organized retail, logistics and manufacturing supports long-term demand for corrugated packaging products in India.
Phytochem Remedies (India) Limited Financial Information (Restated Consolidated)
Amount in (₹ in Lakhs)
| Period Ended | Sep 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Reserve of Surplus | 901.70 | 998.85 | 551.18 | 320.07 |
| Total Assets | 5,368.01 | 4,450.12 | 4,185.41 | 3,706.86 |
| Total Borrowings | 1,931.95 | 1,868.96 | 2,102.41 | 2,030.21 |
| Fixed Assets | 1,862.48 | 1,892.43 | 1,957.74 | 2,119.89 |
| Cash | 1.16 | 6.29 | 5.49 | 16.28 |
| Cash flow from operating activities | 72.71 | 466.45 | 35.50 | -58.48 |
| Cash flows from investing activities | - | 0.12 | 96.90 | -884.57 |
| Cash flow from financing activities | -77.84 | -465.78 | -143.19 | 957.85 |
| Net Borrowing | 1,930.79 | 1,862.67 | 2,096.92 | 2,013.93 |
| Revenue | 2,501.30 | 3,681.01 | 3,289.74 | 2,082.57 |
| EBITDA | 671.97 | 868.97 | 588.09 | 291.24 |
| PAT | 375.35 | 447.67 | 231.11 | 81.89 |
| PAT Margin | 15.01% | 12.16% | 7.03% | 3.93% |
| EPS | 4.77 | 14.21 | 8.11 | 2.87 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue Data, given in FINANCIAL EXPRESS.
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | 14.21 |
| EPS Post IPO (Rs.) | 3.80 |
| Adjusted 12M EPS Post IPO (Rs.) | 6.38 |
| P/E Pre IPO | 6.90 |
| P/E Post IPO | 25.78 |
| Adjusted 12M P/E Post IPO | 15.37 |
| ROE | 34.07% |
| ROCE | 25.29% |
| P/BV | 2.35 |
| Debt/Equity | 1.42 |
| RoNW | 34.07% |
| EBITDA Margin | 23.78% |
| PAT Margin | 12.16% |
Phytochem Remedies (India) Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| Phytochem Remedies | 3.80 | 25.78 | 34.07% | 25.29% | 2.35 | 1.42 | 34.07% |
| Perfectpac | 4.73 | 20.49 | 8.68 % | 11.9 % | 1.53 | 0.02 | 8.40% |
| Worth Peripherals | 10.03 | 14.43 | 9.27 % | 13.2 % | 1.31 | 0.10 | 9.10% |
| G. K. P. Printing & Packaging | 0.39 | 18.36 | 3.87 % | 4.87 % | 0.70 | 0.09 | 3.80% |
Phytochem Remedies (India) Limited Contact Details
Phytochem Remedies Limited
Phone: +91 294 4577549
Email: cs@phytochem.co.in
Website: http://www.phytochem.co.in
Phytochem Remedies (India) IPO Registrar and Lead Manager(s)
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Mefcom Capital Markets Limited
Phone: +91 11 46500500
Email: pril.ipo@mefcomcap.in
Website: http://www.mefcomcap.in
Phytochem Remedies (India) IPO Review
Phytochem Remedies (India) Limited is engaged in the manufacturing of corrugated boxes, sheets, rolls and packaging goods. The company earns revenue by supplying customized packaging solutions primarily to pharmaceuticals, agriculture, pesticides, FMCG and automotive sectors. Its products are used for storage, protection and transportation of goods. Revenue from operations stood at ₹3,653.62 lakh in FY25, growing at a CAGR of 32.46% from FY23 to FY25.
The Company is led by Promoter, i.e., ADITI BOHRA, BOHRA AGRIFILMS PRIVATE LIMITED, NIRANJAN SURANA AND SHILPA SURANA
The Revenues from operations for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
2,501.30 Lakh, ₹
3,681.01 Lakh, ₹
3,289.74 Lakh, and ₹
2,082.57 Lakh, The EBITDA for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
671.97 Lakh, ₹
868.97 Lakh, ₹
588.09 Lakh, and ₹
291.24 Lakh, The Profit after Tax for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹
375.35 Lakh, ₹
447.67 Lakh, ₹
231.11 Lakh, and ₹
81.89 Lakh, respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹14.21 and post-issue EPS of ₹3.80 for FY25. The pre-issue P/E ratio is 6.90x,while the post-issue P/E ratio is 25.78x against the Industry P/E ratio is 17.76x The company's ROE for FY25 is 34.07% and RoNW is 34.07% The Annualised EPS is ₹6.38x and P/E is 15.37x. These metrics suggest that the IPO is Fully priced.
The Grey Market Premium (GMP) of Phytochem Remedies showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Phytochem Remedies Limited IPO for Listing gain or Long Term Purposes.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. We also use Artificial Intelligence (AI) tools to enhance the efficiency and quality of our research services, including data retrieval, analysis, and report summarization. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit Legal our website abhayvarn.com
About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.
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