Ecoline Exim was incorporated on July 12, 2008. The company manufactures sustainable cotton and jute packaging and promotional bags, exporting to over 27 countries, including the EU, USA, Japan, Southeast Asia, and Mexico. It offers eco-friendly, reusable, and biodegradable alternatives to plastic
| Bidding Dates |
|---|
| 23 Sep 2025 - 25 Sep 2025 |
| Subscription |
|---|
| 5.71x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,68,000 | 2 | 2 | 1000 | 5.4 M | ₹134 - ₹141 | 73.58 % | ₹726.3 M - ₹764.2 M | RHP DOC |
Ecoline Exim IPO SUBSCRIPTION STATUS
25 Sep '25Ecoline Exim IPO overall subscription rate was 5.71 times the total available shares
Ecoline Exim IPO retail subscription rate was 5.8 times in the retail segment
Ecoline Exim IPO non-institutional investor subscription rate was 7.65 times in the non-institutional investor category
Ecoline Exim IPO Qualified Institutional Bidder subscription rate was 5.05 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
25 Sep 2025 (Day 3) | 5.8x | 7.65x | 5.05x |
24 Sep 2025 (Day 2) | 0.95x | 1.21x | 1.17x |
23 Sep 2025 (Day 1) | 0.41x | 0.73x | 0.77x |
Ecoline Exim FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 269.3 | 18.8 | -5.0 | -7.3 | 11.1% |
| FY24 | 272.2 | 22.6 | 20.1 | 18.0 | 12.5% |
| FY23 | 303.7 | 18.9 | 13.6 | 8.9 | 10.1% |
| Note: FY24 & FY25 financials are standalone basis | |||||
Ecoline Exim IPO SUBSCRIPTION STATUS DETAILS
Ecoline Exim had 5.4 M shares on offer
Ecoline Exim IPO offer price was in the range ₹134 - ₹141
Ecoline Exim IPO minimum Investment was ₹268000
Ecoline Exim IPO issue size was ₹ 726.3 M - ₹ 764.2 M
Ecoline Exim had a minimum lot size of 1000 Shares per application
Ecoline Exim NUMBER OF SHARES ON OFFER
Ecoline Exim IPO IMPORTANT DATES
| Issue Open Date | 23 Sep 2025 |
| Issue close Date | 25 Sep 2025 |
| Allotment Date | 26 Sep 2025 |
| Refund Date | 29 Sep 2025 |
| Demat Account Credit Date | 29 Sep 2025 |
| Listing Date | 30 Sep 2025 |
| Listing on Exchange(s) | NSE |
| Ecoline Exim Allotment Status | Exchange/ Registrar |
Ecoline Exim IPO subscription opened on 23 Sep 2025, and closed on 25 Sep 2025
IPO allotment for Ecoline Exim was finalized on Friday, 26 Sep 2025
IPO listing for Ecoline Exim was on NSE on Tuesday, 30 Sep 2025
Ecoline Exim IPO LISTING GAINS
| Issue Price (adjusted) | 141.0 |
| Listing Open Price | 140.8 |
| Listing Close Price | 140.5 |
| Listing Gain% | -0.1% |
| Current Gain% | 36.9% |
Ecoline Exim Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ecoline Exim Ltd. | 193 | 395.9 | 19.6 | 2.7 | 1.4 | 12.3 | 8.2 | 286.9 | 5.1 | 20.2 | 7.2 | 9.8 | 7.2 |
| KPR Mill Ltd. | 1118.1 | 38218.2 | 41.9 | 3.9 | 5.6 | 15.2 | 12.7 | 6784.3 | 5 | 866.5 | 6.3 | 26.7 | 10.7 |
| Vardhman Textiles Ltd. | 608.6 | 17616 | 20.8 | -43.9 | 1.7 | 7.1 | 5.4 | 10092.5 | -0.3 | 745.2 | -15.6 | 29.3 | -0.5 |
| Welspun Living Ltd. | 162.7 | 15603.5 | 76.3 | -1.1 | 1.7 | 4.2 | 2 | 9467.9 | -11.5 | 204.4 | -68 | 2.1 | -68 |
| Arvind Ltd. | 572.6 | 15577 | 37.6 | 2.2 | 1.7 | 10.2 | 4.7 | 9359.5 | 11.5 | 413.9 | 17.1 | 15.2 | 17.1 |
| Trident Ltd. | 24.9 | 12668.5 | 32.1 | -3.4 | 1.9 | 7.9 | 5 | 6775.2 | -3.9 | 377.1 | 2 | 0.8 | -9.4 |
Ecoline Exim INFORMATION ON IPO ISSUE
About Ecoline Exim
Ecoline Exim was incorporated on July 12, 2008. The company manufactures sustainable cotton and jute packaging and promotional bags, exporting to over 27 countries, including the EU, USA, Japan, Southeast Asia, and Mexico. It offers eco-friendly, reusable, and biodegradable alternatives to plastic
Object of the Issue
- Funding the capital expenditure towards construction of building, mechanical and electrical works and procurement of plant and machinery for setting up a new manufacturing facility at Ahmedabad
- General corporate purposes
Ecoline Exim - PROMOTERS
| Name |
|---|
| Sudarshan Saraogi |
| Saurabh Saraogi |
| Shradha Saraogi |
| Gunjal Saraogi |
Ecoline Exim - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Sudarshan Saraogi | Chairman & Whole-time director |
| Saurabh Saraogi | Managing Director |
| Shradha Saraogi | Non-executive Director |
| Gunjal Saraogi | Non-executive Director |
| Ajit Khandelwal | Independent Director |
| Udit Jalan | Independent Director |
Ecoline Exim Book Running Lead Manager
HEM Securities Limited
ib@hemsecurities.com
Ecoline Exim Registrar to the issue
MUFG Intime India Private Limited
ecolineexim.smeipo@in.mpms.mufg.com
Ecoline Exim Strengths
Eco-friendly business model
The company produces eco-friendly cotton and jute bags as a sustainable alternative to single-use plastics. These durable, reusable, and biodegradable bags can be recycled, reducing environmental impact
Stringent quality control
The company maintains stringent quality control throughout manufacturing to ensure durable, reliable bags that meet customer standards. Adhering to these standards has helped secure repeat orders, including from multinational clients
In-house manufacturing capabilities
The company has in-house design and manufacturing capabilities for a wide range of bags, handling everything from fabric cutting to packaging. Strict quality checks and domestic sourcing of key materials like cotton and jute ensure efficient operations and products that meet customer requirements
Ecoline Exim Risks
Demand
The company’s business is sensitive to changes in demand and evolving fashion trends for cotton and jute bags. An experienced design team monitors customer preferences and market trends to develop new products, but rapid shifts in trends or competitive pressures could impact growth and sales
Dependent on manufacturing facilities
The company relies on its manufacturing facilities in Kolkata and Ahmedabad, making it vulnerable to operational disruptions, regulatory changes, and external events. Factors like equipment failure, labour productivity, utility access, natural disasters, or pandemics could adversely affect business and financial performance
Labour intensive
The company’s operations are labor-intensive and depend on the availability of workers at its factories. Strikes, labor shortages, wage hikes, or changes in labour laws could raise costs, impact compliance, and adversely affect cash flows and operations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 15.2 crore, of 1,080,000 shares. It also consists of a fresh issue of Rs 61.2 crore.
The promoters of the company are Sudarshan Saraogi, Saurabh Saraogi, Shradha Saraogi and Gunjal Saraogi.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 134.0 - 141.0.
The IPO application opens on Sep 23, 2025 and closes on Sep 25, 2025.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 268,000.0, the maximum value for this IPO is Rs 282,000.0.
This IPO will be allotted on Sep 26, 2025.
The refund will be credited to your account on Sep 29, 2025.
The allotted shares will be credited to your demat on Sep 29, 2025.
Ecoline Exim Ltd.’s shares listed on the stock exchanges on Sep 30, 2025.