IPO Overview
Dhaval Packaging Limited (DPL), an Ahmedabad‑based plastic packaging manufacturer, announced the launch of its initial public offering on July 30, 2026, with the issue closing on August 3. The company aims to raise Rs 36.36 crore through a fresh issue of 3,748,800 equity shares priced within a band of Rs 92 to Rs 97 per share. The allotment is expected to be finalized on August 4, and the shares will list on the BSE SME platform on August 6.
Use of Proceeds
The net proceeds from the IPO will be allocated as follows: Rs 27.19 crore is earmarked for capacity expansion at the Sanand‑II Industrial Estate manufacturing facility; Rs 3.75 crore will be used for repayment or pre‑payment of certain loans; the remaining amount will be directed toward general corporate purposes.
Share Allocation and Pricing
Of the total issue, 1,718,400 shares (49.95%) are allotted to the Qualified Institutional Buyer (QIB) category, 517,200 shares (15%) to High Net‑Worth Individual (HNI) investors, and 1,204,800 shares (35%) to retail investors. The lot size is set at 1,200 shares. The minimum investment for a retail investor is Rs 2,32,800 (2,400 shares), while HNI investors must invest in a minimum of 3,600 shares, amounting to Rs 3,49,200.
Financial Performance FY2026
For the financial year ended March 31, 2026, Dhaval Packaging reported revenue of Rs 65 crore, representing a 24.4% year‑on‑year increase. EBITDA rose 36.2% to Rs 13.9 crore, and profit after tax increased 33% to Rs 8 crore.
Management and Operations
Founded in 2015, the company is led by Chairman and Managing Director Manish Dagla, supported by a promoter‑led management team with over 75 years of combined industry experience. DPL operates three manufacturing facilities in Sanand covering more than 60,000 sq ft, equipped with 21 injection moulding machines and one vacuum forming machine, delivering a production capacity of approximately 8,400 kg per day. The firm serves customers across food, dairy, confectionery, FMCG, pharma, construction, infrastructure, oil & gas, automotive, paint & coatings, and chemical & petrochemical sectors.
Product and Market Developments
During FY2026, Dhaval Packaging expanded its export footprint by entering the Australian market and introduced a stackable tin‑plastic hybrid packaging solution for premium food applications.
Advisors and Listing Details
Rarever Financial Advisors Private Limited is the book‑running lead manager, KFin Technologies Limited serves as the registrar, and New Berry Capitals Private Limited has been appointed as the market maker for the issue.