Dhaval Packaging was incorporated on November 02, 2015. The company designs, manufactures, and supplies plastic packaging solutions for domestic and international markets, primarily serving the food and FMCG sectors. Its integrated approach combines design, materials, and manufacturing expertise to deliver scalable packaging that enhances product protection, shelf appeal, and production efficiency
| Bidding Dates |
|---|
| 30 Jul 2026 - 03 Aug 2026 |
| Subscription |
|---|
| 46.56x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,20,800 | 2 | 2 | 1200 | 3.7 M | ₹92 - ₹97 | 66.61 % | ₹344.9 M - ₹363.6 M | RHP DOC |
Dhaval Packaging IPO SUBSCRIPTION STATUS
03 Aug '26Dhaval Packaging IPO overall subscription rate was 46.56 times the total available shares
Dhaval Packaging IPO retail subscription rate was 40.28 times in the retail segment
Dhaval Packaging IPO non-institutional investor subscription rate was 55.5 times in the non-institutional investor category
Dhaval Packaging IPO Qualified Institutional Bidder subscription rate was 56.38 times the available shares for Qualified Institutional Bidder
Dhaval Packaging IPO Employees subscription rate was 0.78 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
03 Aug 2026 (Day 3) | 40.28x | 55.5x | 56.38x | 0.78x |
31 Jul 2026 (Day 2) | 1.67x | 1.31x | 1.05x | 0.22x |
30 Jul 2026 (Day 1) | 0.7x | 1.31x | - | 0.1x |
Dhaval Packaging 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 |
| FY26 | 65.0 | 8.0 | 6.7 | -7.4 | 21.4% |
| FY25 | 52.3 | 6.0 | 4.3 | -6.0 | 19.6% |
| FY24 | 48.0 | 1.6 | 0.7 | -3.4 | 10.4% |
Dhaval Packaging IPO SUBSCRIPTION STATUS DETAILS
Dhaval Packaging had 3.7 M shares on offer
Dhaval Packaging IPO offer price was in the range ₹92 - ₹97
Dhaval Packaging IPO minimum Investment was ₹220800
Dhaval Packaging IPO issue size was ₹ 344.9 M - ₹ 363.6 M
Dhaval Packaging had a minimum lot size of 1200 Shares per application
Dhaval Packaging NUMBER OF SHARES ON OFFER
Dhaval Packaging IPO IMPORTANT DATES
| Issue Open Date | 30 Jul 2026 |
| Issue close Date | 03 Aug 2026 |
| Allotment Date | 04 Aug 2026 |
| Refund Date | 05 Aug 2026 |
| Demat Account Credit Date | 05 Aug 2026 |
| Listing Date | 06 Aug 2026 |
| Listing on Exchange(s) | BSE |
| Dhaval Packaging Allotment Status | Exchange/ Registrar |
Dhaval Packaging IPO subscription opened on 30 Jul 2026, and closed on 03 Aug 2026
IPO allotment for Dhaval Packaging was finalized on Tuesday, 04 Aug 2026
IPO listing for Dhaval Packaging was on BSE on Thursday, 06 Aug 2026
Dhaval Packaging IPO LISTING GAINS
| Issue Price (adjusted) | 97.0 |
| Listing Open Price | 110.0 |
| Listing Close Price | 111.7 |
| Listing Gain% | 13.4% |
| Current Gain% | 14.8% |
Dhaval Packaging 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dhaval Packaging Ltd. | 111.3 | 152.9 | 19 | 0.6 | 2.3 | 26.1 | 12.1 | 65.2 | 24.4 | 8 | 33 | 5.9 | 33 |
| Garware Hi-Tech Films Ltd. | 6973 | 16200 | 41.8 | 2.2 | 7.2 | 12.7 | 11.2 | 2185 | 1 | 338.2 | 2.1 | 166.9 | 19 |
| EPL Ltd. | 224.7 | 7198.1 | 18.5 | 2.2 | 1.5 | 13.6 | 7.9 | 4806.5 | 12.9 | 388.9 | 8.3 | 12.1 | 8.3 |
| AGI Greenpac Ltd. | 709.8 | 4592.2 | 12.7 | 3.1 | 1.7 | 14.6 | 9.9 | 2760.4 | 6 | 351.7 | 9.1 | 56 | 4.1 |
| Uflex Ltd. | 488.7 | 3529 | 11.1 | 0.1 | 0.2 | 3.9 | 1.4 | 15513 | 2.1 | 317.1 | 122.8 | 43.9 | 122.7 |
| Polyplex Corporation Ltd. | 1115.9 | 3503.1 | 77.9 | -1 | 0.5 | 1.1 | 0.5 | 7173.4 | 2.8 | 45 | -78.5 | 14.3 | -78.5 |
Dhaval Packaging INFORMATION ON IPO ISSUE
About Dhaval Packaging
Dhaval Packaging was incorporated on November 02, 2015. The company designs, manufactures, and supplies plastic packaging solutions for domestic and international markets, primarily serving the food and FMCG sectors. Its integrated approach combines design, materials, and manufacturing expertise to deliver scalable packaging that enhances product protection, shelf appeal, and production efficiency
Object 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
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company
- General corporate purposes
Dhaval Packaging - PROMOTERS
| Name |
|---|
| Manish Nanalal Dagla |
| Dhaval Nanalal Dagla |
| Shah Aalap Dipak |
| Jigar Harivadan Contractor |
| Jigar Manubhai Shah |
Dhaval Packaging - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Manish Nanalal Dagla | Chairman & Managing Director |
| Dhaval Nanalal Dagla | Executive Director & Chief Executive Officer |
| Shah Aalap Dipak | Executive Director & Chief Financial Officer |
| Jigar Harivadan Contractor | Executive Director & Chief Marketing Officer |
| Jigar Manubhai Shah | Executive Director & Chief Production Officer |
| Patel Kenan Sureshbhai | Non - Executive Independent Director |
| Bhadresh Kantilal Mehta | Non - Executive Independent Director |
| Shah Khyati Bhavya | Non - Executive Independent Director |
Dhaval Packaging Book Running Lead Manager
Rarever Financial Advisors Private Limited
ipo.dhavalpack@rarever.in
Dhaval Packaging Registrar to the Offer
KFin Technologies Limited
dhavalpack.ipo@kfintech.com
Dhaval Packaging Strengths
In-house manufacturing with automation
The company operates a fully integrated in-house In-Mold Labelling (IML) process supported by automation and robotic systems, ensuring consistent quality, faster production, and efficient changeovers. Its end-to-end manufacturing capabilities enable reliable large-scale production, premium packaging finishes, and timely delivery
Backward integration
The company's integrated label management process enables seamless coordination of design, pre-press, material selection, and production, improving quality, efficiency, and faster decision-making. This approach reduces inventory risk, supports flexible production schedules, protects brand intellectual property, and minimizes waste throughout the packaging process
Dual-segment portfolio
The company offers both In-Mold Labelling (IML) packaging and industrial end caps through a unified manufacturing and quality framework, enabling efficient production and consistent execution. This diversified product portfolio improves capacity utilization, supports faster product development, and strengthens its ability to serve varied customer requirements
Dhaval Packaging Risks
Regulatory risks
The company's food-grade packaging products must comply with stringent quality, hygiene, and safety standards. Any product defect, contamination, or regulatory non-compliance could result in customer claims, regulatory action, reputational damage, and adversely affect its business and financial performance
Depend on FMCG industry
The company's growth depends on demand from the FMCG, food, dairy, and pipe manufacturing industries. Any slowdown, changing customer preferences, increased competition, or shift toward alternative packaging materials could reduce demand and adversely affect its business and financial performance
Competition
The company operates in a highly competitive packaging industry, facing competition from larger domestic and international players with stronger financial resources and advanced technologies. Any inability to keep pace with innovation, automation, sustainability trends, or competitive pricing could reduce its market share, margins, and growth
IPO FAQs
The promoters of the company are Manish Nanalal Dagla, Dhaval Nanalal Dagla, Shah Aalap Dipak, Jigar Harivadan Contractor and Jigar Manubhai Shah.
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 92.0 - 97.0.
The IPO application opens on Jul 30, 2026 and closes on Aug 03, 2026.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 220,800.0, the maximum value for this IPO is Rs 232,800.0.
This IPO will be allotted on Aug 04, 2026.
The refund will be credited to your account on Aug 05, 2026.
The allotted shares will be credited to your demat on Aug 05, 2026.
Dhaval Packaging Ltd.’s shares listed on the stock exchanges on Aug 06, 2026.