Phytochem Remedies IPO – Overview
Phytochem Remedies (India) Ltd has launched its initial public offering (IPO) from 18th December 2025 to 22nd December 2025. This is an SME IPO to be listed on the BSE SME platform. The company aims to raise approximately ₹38.22 crore through a 100% fresh issue of 39,00,000 equity shares at a fixed price of ₹98 per share.
Issue Price, Lot Size & Investment
- IPO Price: ₹98 per equity share (fixed)
- Lot Size: 1,200 shares per lot
- Minimum Investment: ₹2,35,200 (2 lots for retail application)
- Total Issue Size: ~₹38.22 crore
- Allotment Date: ~23 December 2025
- Listing Date (Tentative): 26 December 2025
This structure makes Phytochem Remedies one of the smaller SME IPOs of 2025 — attractive to investors targeting SME segment listings.
Company Profile
Phytochem Remedies (India) Ltd. was incorporated in 2002 and is engaged in manufacturing corrugated boxes, corrugated rolls, sheets and packaging solutions. The company’s products serve critical packaging needs across food & beverages, FMCG, pesticides, pharmaceutical and automotive industries. Operations are primarily based out of two manufacturing units in Bari Brahmana, Jammu.
Financial Snapshot (Trailing)
According to IPO filings and market data:
| Period | Revenue (₹ Cr) | PAT (₹ Cr) |
|---|---|---|
| FY2023 | ~20.8 | ~0.8 |
| FY2024 | ~32.8 | ~2.3 |
| FY2025 | ~36.5 | ~4.5 |
| H1 FY2026 also showed continued profitability. |
While the company shows revenue growth and rising profits, investors are advised to review audited financials in the RHP and consult independent advisors before investing.
IPO Subscription & Investor Interest
On Day 1 of subscription (18 Dec 2025), the IPO saw modest demand with only ~2–3% subscription overall as per market reports. Retail category was about 3%, and non-institutional investors (NIIs) around 2%. (mint)
Such early subscription numbers indicate cautious investor sentiment, common in smaller SME IPOs with limited institutional backing.
GMP – Grey Market Premium
GMP (Grey Market Premium) for Phytochem Remedies currently stands at ~₹0 (Flat), indicating that unofficial market investors are not pricing in significant listing gains yet.
A flat GMP means grey market dealers believe the issue might list around the issue price without notable premium or discount — a relatively conservative expectation.
Detailed IPO Analysis
Strengths
✔ Specialized packaging player catering to diversified industries.
✔ Consistent revenue and profit growth in recent years.
✔ Fixed price makes it easier for retail investors to calculate investment.
✔ Funds will be used for capital expenditure, debt repayment and general corporate purposes — typically positive uses.
Weaknesses & Risks
❌ Modest subscription levels hint at lukewarm market interest.
❌ GMP at zero suggests limited listing gains.
❌ SMEs tend to be riskier with limited liquidity compared with mainboard listings.
❌ Heavy minimum investment requirement (~₹2.35 lakh) might deter small retail investors.
❌ Packaging segment is competitive — business performance depends on raw material prices and industry cycles.
Investment Perspective
Phytochem Remedies IPO may appeal to:
- Investors targeting SME IPO allocations
- Those looking for long-term investment in niche manufacturing companies
- Participants comfortable with sector and geographic risks
However, given the low GMP, tepid subscription trend, and SME market dynamics, many analysts suggest monitor subscription movement and aftermarket trends before committing. Some platforms even algorithmically score it as a “strong avoid” in short-term liquidity terms (though this is not financial advice).
Conclusion
The Phytochem Remedies IPO presents a unique opportunity in the SME segment, with a clear business model and reasonable pricing at ₹98. However, investor interest and aftermarket indicators (like GMP) remain subdued as of the subscription opening phase. Prospective investors should:
✅ Analyze company financials
✅ Compare with recent SME IPO trims
✅ Understand SME listing liquidity patterns
Before making investment decisions, consult a licensed financial advisor for guidance tailored to your risk profile and investment horizon.
