Chemco Aims for ₹1,500-Crore IPO Amidst Strong Demand
Chemco Plastic Industries, a manufacturer of plastic packaging products for companies including Coca-Cola and PepsiCo, plans to raise around ₹1,500 crore through an initial public offering (IPO). The proposed issue will comprise a combination of fresh shares and an offer for sale by existing shareholders. Money raised through the fresh issue is expected to be used for capital expenditure and debt reduction.
The company has operations across 23 locations in India and West Asia, processes over 1.25 lakh tonnes of plastic polymers annually, and counts major consumer brands such as Nestlé, Procter & Gamble, Dabur, Parle Agro, Britannia, Godrej, Marico, Reckitt, Hindustan Unilever, Amul, Cipla, Johnson & Johnson, and Danone among its clients.
Chemco's proposed IPO comes against a backdrop of strong demand for industrial offerings. The company's revenue crossed ₹900 crore in FY25, with operating income increasing 22% from the previous year, according to Crisil Ratings.