Dhaval Packaging has fixed a price band of Rs. 92 to Rs. 97 per share for the IPO. The net proceeds from the issue will be utilised for capacity expansion at its manufacturing facility at Sanand-II Industrial Estate, for which Rs. 27.19 crore has been earmarked. A further Rs. 3.75 crore will be utilised for the repayment or prepayment of certain loans, while the rest will be used for general corporate purposes.
Of the total issue of 37,48,800 equity shares, 17,18,400 shares (49.95%) are allocated to the QIB category, 5,17,200 shares (15%) are reserved for the HNI category, while 12,04,800 shares (35%) are reserved for retail investors.
The lot size is 1,200 shares. The minimum investment required by a retail investor is Rs. 2,32,800 (2,400 shares), while for HNI investors, the minimum investment is 3,600 shares, amounting to Rs. 3,49,200. The allotment is expected to be finalised on August 4, while the shares are slated to list on the BSE SME platform on August 6.
Established in 2015, Dhaval Packaging is engaged in the design, manufacture and supply of plastic packaging products for domestic and international markets. Led by Chairman and Managing Director Manish Dagla and a promoter-led management team with more than 75 years of combined industry experience, the company operates across two core business verticals: In-Mould Labelled (IML) food-grade packaging containers and SAW pipe protection plastic caps for industrial applications.
The company operates three manufacturing facilities at Sanand, spread across more than 60,000 sq. ft. of manufacturing area. Equipped with 21 injection moulding machines and one vacuum forming machine, the facilities have a production capacity of approximately 8,400 kg per day. The company serves customers across food, dairy, confectionery, FMCG, pharma, construction, infrastructure, oil & gas, automotive, paint & coatings, and chemical & petrochemical sectors. Its integrated manufacturing capabilities, in-house tooling and design expertise, automation-led production processes and internationally recognised certifications have enabled the company to expand its presence in domestic as well as international markets. For the financial year ended March 31, 2026, the company reported revenue of Rs. 65 crore, up 24.4 per cent year-on-year. EBITDA increased 36.2 per cent to Rs. 13.9 crore, while profit after tax rose 33 per cent to Rs. 8 crore. During the year, Dhaval Packaging also expanded its export footprint by entering the Australian market and introduced a stackable tin-plastic hybrid packaging solution for premium food applications.
Rarever Financial Advisors Private Limited is the book-running lead manager to the issue, while KFin Technologies Limited is the registrar. New Berry Capitals Private Limited has been appointed as the market maker.
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