The packaging manufacturer, which supplies major beverage and FMCG brands, is considering a public issue to support capital expenditure and reduce debt.
Chemco Plastic Industries is reportedly planning an initial public offering (IPO) of approximately ₹1,500 crore, according to a Moneycontrol report. The proposed share sale is expected to combine fresh equity issuance with an offer for sale by existing shareholders, although the company has not publicly confirmed the plans.
The reported IPO would provide Chemco with funds for capital expenditure and debt reduction. Investment banks Equirus, Axis Capital and 360ONE are advising on the proposed transaction, according to the report.
Chemco manufactures rigid and flexible plastic packaging products, including PET preforms, bottles, jars, containers, caps, shrink films and stretch wraps. Its packaging solutions serve customers across the beverage, food, personal care, healthcare, confectionery, lubricant and household-product sectors.
The company’s reported customer base includes major brands such as Coca-Cola, PepsiCo, Bisleri, Nestlé and Hindustan Unilever. Other names associated with its business include Procter & Gamble, Dabur, Britannia, Godrej, Marico, Reckitt, Amul, Cipla and Danone.
Founded in 1996 by polymer engineer Ramawatar Saraogi, Chemco has expanded its manufacturing and packaging operations across India and West Asia. The company operates facilities in locations including Silvassa, Vadodara, Daman, Halol and Sanand, along with operations in the UAE, Bahrain and Saudi Arabia.
Chemco’s business also extends beyond conventional packaging. Its portfolio includes products and activities related to baby care, technical textiles, geotextiles, feminine hygiene and houseware, reflecting the company’s broader presence in polymer-based manufacturing.
The proposed public issue comes amid strong investor interest in industrial and manufacturing companies seeking capital for expansion. Market observers cited in the report said Chemco’s position in the packaging sector could attract investor attention if the IPO moves forward.
However, the proposed issue remains at the planning stage. The company had not responded to requests for comment at the time of the report, and the final size, structure, timing and regulatory status of the IPO remain subject to further developments.
If completed, the IPO could provide Chemco with additional resources to expand production capacity, modernise its manufacturing operations and strengthen its balance sheet. The development would also highlight the growing role of packaging manufacturers in India’s consumer goods and beverage supply chains.