SME IPO crisis: Phytochem Remedies withdraws Rs 38 crore issue due to undersubscription

Phytochem Remedies withdrew its Rs 38 crore SME IPO after the issue was undersubscribed at just 62% with only 797 applications. The grey market signalled a flat listing, reflecting weak sentiment toward SME offerings. The high retail investment threshold and volatile markets also weighed on subscription demand.

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