CheMco Plans ₹1,500 Crore IPO to Fuel Growth in Packaging Business

CheMco Plastic Industries is planning an initial public offering (IPO) worth ₹1,500 crore, making it one of the largest industrial IPOs in India this year. The company supplies plastic packaging products to major brands like Coca-Cola and PepsiCo.

The proposed IPO will comprise a mix of fresh shares and an offer for sale, with proceeds from the fresh issue expected to be used for capital expenditure and debt reduction. Equirus, Axis Capital, and 360ONE are advising on the transaction.

CheMco manufactures rigid and flexible plastic packaging products, including PET preforms, bottles, jars, containers, caps, shrink films, and stretch wraps. Its clients include Nestlé, Procter & Gamble, Dabur, Parle Agro, Britannia, Godrej, Marico, Reckitt, Hindustan Unilever, Amul, Cipla, Johnson & Johnson, and Danone.

The company has operations across 23 locations in India and West Asia and processes over 1.25 lakh tonnes of plastic polymers a year. Its manufacturing facilities include sites in Silvassa, Vadodara, Daman, Halol, and Sanand, as well as facilities in the UAE, Bahrain, and Saudi Arabia.