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Dhaval Packaging Ltd
PackagingIPOSME
₹97 - 97
Our Company, Dhaval Packaging Limited, was incorporated as a private limited company on November 02, 2015 at Sanand, Gujarat and was subsequently converted into a public limited company on October 08, 2025. Our Registered office is situated at Plot No. E 411, GIDC, Sanand, Ahmedabad, Sanand, Gujarat, India - 382110. We design, manufacture, and supply plastic packaging solutions for domestic and international markets. Our core philosophy is to translate brand intent into manufacturable and scalable packaging solutions for food and FMCG categories such as sweets, dairy, dry fruits, bakery and other related items. We position ourselves as a solutions partner that aligns design, materials, labelling, and tooling with production realities so that packaging enhances shelf presence, protects product integrity, and supports reliable throughput on customer lines.
Lot1,200Min Invest₹2,32,800Face Value₹10Issue Size₹36 CrFresh Issue₹36 CrListing Price₹110CMP₹123
Timeline
30 Jul
Bidding opens
3 Aug
Bidding closes
4 Aug
Allotment
5 Aug
Refund & demat credit
6 Aug
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹36 Cr0.37 Cr shares
Fresh Issue₹36 Cr
Face Value₹10
Lot Size1,200 shares
ReservationQIB 49.95% · NII 15.03% · RETAIL 35.02%
Application Sizes
Retail₹2,32,8001-1 lots
sNII₹2,32,800from 2 lots
bNII₹10,47,600from 9 lots
Managers & Registrar
Lead ManagerRarever Financial Advisors Private Limited
RegistrarKFin Technologies Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group90.87%66.06%Public9.13%33.94%
Objects of the Issue
- Part finance the cost of establishing new manufacturing facility at Plot No. E - 552 in the Sanand - II Industrial Estate, Hirapur, Taluka Sanand, District Ahmedabad ("Proposed facility");
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by its Company
- General corporate purposes
Anchor Book
Bid Date29-Jul-2026
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 33 | 43 | 48 | 52 | 65 |
| Operating ProfitCr | 2 | 3 | 5 | 10 | 14 |
| OPM% | 5.1 | 6.0 | 10.4 | 19.6 | 21.4 |
| PBTCr | 0 | 1 | 2 | 8 | 11 |
| PATCr | 0 | 1 | 2 | 6 | 8 |
| EPS | 2 | 3 | 8 | 10 | 8 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 2 | 2 | 2 | 2 | 10 |
| ReservesCr | 0 | 1 | 2 | 18 | 21 |
| BorrowingsCr | 9 | 14 | 19 | 17 | 24 |
| Fixed AssetsCr | - | - | - | - | 29 |
| Total AssetsCr | 18 | 29 | 34 | 48 | 66 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | - | 2 | 1 | 4 | 7 |
| Investing Cash FlowCr | - | -7 | -4 | -10 | -14 |
| Financing Cash FlowCr | - | 5 | 4 | 6 | 8 |
| Net Cash FlowCr | - | 0 | 1 | 0 | 1 |
Strengths & Risks
Strengths · as stated in the DRHP
- Long standing relationships with a diversified customer base.
- Business Model focused on customized solutions and strong customer relationships.
- Experienced Promoters and management team.
Strategies · as stated in the DRHP
- Focused marketing campaign targeting food and FMCG brands that use sticker-labelled containers.
- Expand our Ice-Cream containers portfolio with new molds and formats.
- Introduce a new product line: Tin containers for liquid food packaging.
- Target export growth in dairy, dates, and ice-cream.
Risks · as stated in the DRHP
- The company depends on a limited number of suppliers for its raw material requirements of the company's business. Further, the company does not have definitive agreements or fixed terms of trade with most of its suppliers. Failures to successfully leverage the company's relationships with existing suppliers or to identify new suppliers could adversely affect its business operations.
- Any disruptions to the supply, or increases in the pricing, of the raw materials and finished products that the company procure, may adversely affect the supply and pricing of its products and, in turn, adversely affect the company's business, cash flows, financial condition and results of operations.
- The company revenues are significantly dependent on certain geographical regions, and any adverse developments in these regions could adversely impact its business, financial condition and results of operations.
- The company's manufacturing facilities are located only in the state of Gujarat. Any adverse developments affecting its operations in the Gujarat could have an adverse impact on the company's revenue and results of operations.
- The company's business is operating under various laws which require it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business, and if the company is unable to obtain these approvals and the renewals, the company's business operations could be adversely affected thereby impacting its revenues and profitability.
- The company's business operations are highly dependent on the efficient functioning of its manufacturing machinery, and any breakdown, malfunction or technical failure may adversely affect the company's production and profitability.