Dhaval Packaging IPO: dates, price band, lot size and GMP
Dhaval Packaging IPO listed on 6 Aug at ₹110 (BSE SME). Issue dates 30 Jul – 3 Aug 2026, price band ₹97, lot 1,200 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Listing: Dhaval Packaging listed on 6 Aug 2026 on BSE SME at ₹110, +₹13 (+13.4%) against the ₹97 upper band. Dhaval Packaging IPO listing date, price and gain · Recently listed IPOs
Updated 30 Oct 2026, 09:10 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 222 IPOs on its calendar; the Dhaval Packaging IPO has a price band of ₹97, a lot of 1,200 shares and no grey-market premium reported yet as of 30 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 30 Jul – 3 Aug 2026 |
| Price band | ₹97 |
| Lot size | 1,200 shares |
| Issue size | ₹36.36 Cr |
| Fresh issue | ₹34.54 Cr |
| Subscription | 49.99x |
| Registrar | Kfin Technologies Ltd. |
| Lead managers | Rarever Financial Advisors Pvt.Ltd. |
| Status | Listed |
Timeline
- Issue opens: 30 Jul
- Issue closes: 3 Aug
- Allotment: 4 Aug
- Refunds: 5 Aug
- Demat credit: 5 Aug
- Listing: 6 Aug
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 56.38x |
| NII | 75.35x |
| sNII | 48.36x |
| bNII | 88.89x |
| Retail | 40.36x |
| Total | 49.99x |
Last updated 3 Aug 2026, 6:55 PM IST.
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | BSE SME |
| Market cap at the upper band | ₹133.25 Cr |
| P/E (pre-issue) | 12.05x |
| P/E (post-issue) | 16.58x |
| Fresh issue (shares) | 35,60,400 |
| Total shares offered | 35,60,400 |
| Promoter holding pre-issue | 90.86% |
| Promoter holding post-issue | 66.06% |
| Promoters | Manish Nanalal Dagla, Dhaval Nanalal Dagla, Shah Aalpa Dipak, Jigar Harivadan Contractor, Jigar Manubhai Shah |
| Lead managers | Rarever Financial Advisors Pvt.Ltd. |
| Registrar phone | 040-79615565 |
| Registrar email | dhavalpack.ipo@kfintech.com |
| Company website | dhavalpackaging.com |
| Anchor bid date | 29 Jul 2026 |
| Anchor lock-in ends (50%) | 3 Sep 2026 |
| Anchor lock-in ends (remaining) | 2 Nov 2026 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 2,400 | ₹2,32,800 |
| Retail (maximum) | 2 | 2,400 | ₹2,32,800 |
| sNII (minimum) | 3 | 3,600 | ₹2,32,800 |
| bNII (minimum) | 3 | 3,600 | ₹10,47,600 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 29% | 10,30,800 | |
| QIB | 19.3% | 6,87,600 | Not more than 50% of the Net Issue |
| NII (HNI) | 14.5% | 5,17,200 | Not less than 15% of the Net Issue |
| sNII | 4.9% | 1,72,800 | |
| bNII | 9.7% | 3,44,400 | |
| Retail | 33.8% | 12,04,800 | Not less than 35% of the Net Issue |
| Employee | 3.4% | 1,20,000 | |
| Market Maker | 5.3% | 1,88,400 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 30 Jul | 0.00x | 1.03x | 0.60x | 1.25x | 0.57x | 0.49x |
| Day 2 · 31 Jul | 1.05x | 1.43x | 1.35x | 1.47x | 1.70x | 1.40x |
| Day 3 · 3 Aug | 56.38x | 75.35x | 48.36x | 88.89x | 40.36x | 49.99x |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹8.05 |
|---|---|
| EPS (post-issue) | ₹5.85 |
| P/E (pre-issue) | 12.05x |
| P/E (post-issue) | 16.58x |
| RoNW | 31.58% |
| RoCE | 22.58% |
| RoE | 31.58% |
| PAT margin | 12.33% |
| EBITDA margin | 21.41% |
| Price / book | 3.16x |
| NAV per share | ₹30.7 |
| Debt / equity | 0.78 |
| Market cap (upper band) | ₹133.25 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 66.42 | 47.89 | 33.7 | +38.7% |
| Total Income | 65.2 | 52.43 | 48.08 | +24.4% |
| Profit After Tax | 8.04 | 6.04 | 1.55 | +33.1% |
| EBITDA | 13.93 | 10.22 | 4.99 | +36.3% |
| NET Worth | 30.75 | 20.16 | 4.1 | +52.5% |
| Reserves and Surplus | 20.76 | 17.75 | 2.1 | +17% |
| Total Borrowing | 24.13 | 16.55 | 19.28 | +45.8% |
About Dhaval Packaging
Dhaval Packaging Ltd. is engaged in the development, manufacturing, and supply of plastic packaging products for domestic and overseas markets. The company specializes in converting packaging concepts into scalable, functional, and high-quality solutions tailored to the requirements of various industries. Its primary customer base includes businesses operating in the food and FMCG segments, such as dairy products, confectionery, bakery items, dry fruits, and ready-to-eat foods. The company maintains a strong focus on quality, environmental responsibility, and workplace safety through adherence to internationally recognized standards.
It is certified under ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety management systems. In addition, its testing laboratory is accredited with ISO/IEC 17025:2017, demonstrating its capability to perform reliable testing and quality assurance processes. Product Portfolio: 1. In-Mold Labeling (IML) Containers: The company manufactures IML containers using a process where a pre-printed label is fused with the plastic container during molding. This technology provides superior aesthetics and durability, offering resistance to moisture, abrasion, and chemical exposure.
Dhaval Packaging offers approximately 39 SKUs in this category and serves a range of established Indian brands while also exporting products to international markets. 2. Plastic End Caps for SAW Pipes: The company produces protective plastic end caps designed for SAW (Submerged Arc Welded) pipes and tubes. These caps help safeguard pipe ends from physical damage, dust, moisture, and corrosion during handling, transportation, and storage. The products are widely used in sectors such as construction, oil & gas, infrastructure development, and heavy engineering. Key Competitive Advantages: Advanced in-house IML production facilities supported by automated manufacturing processes.
Backward-integrated operations that enhance efficiency and quality control. Diversified product portfolio catering to multiple industry segments. Leadership backed by experienced promoters with industry expertise. Strong product customization capabilities and in-house tooling expertise. Established relationships with customers and a proven track record of servicing key accounts.
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”) — ₹27.19 Cr
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by our Company — ₹3.75 Cr
- General corporate purposes — ₹1.51 Cr
- Issue Expense — ₹3.85 Cr
Net proceeds: ₹36.3 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Dhaval Packaging Ltd. (issuer) | 8.08 | 10 | 30.78 | — | 31.58% | — | Restated |
| Mold-Tek Packaging Limited | 21.93 | 5 | 199.79 | 31.38x | 10.98% | 3.46 | — |
Notes: P/E ratio has been calculated after considering closing BSE/NSE price of the peer as on June 25, 2026 obtained from BSE and NSE website and the diluted EPS. All the financial information for listed industry peers mentioned above is on an audited basis and sourced from the audited financial statements of the relevant company for Financial Year 2026, as available on the websites of the Stock Exchanges. All the financial information for Dhaval Packaging Limited mentioned above is from the Restated Financial Statements for the year ended March 31, 2026.
Offer documents: DRHP (PDF) · RHP (PDF)
Frequently asked questions
When does the Dhaval Packaging IPO open and close?
The issue is scheduled for 30 Jul – 3 Aug 2026.
What is the Dhaval Packaging IPO price band?
The price band is ₹97 per share with a lot size of 1,200 shares.
How big is the Dhaval Packaging IPO?
The total issue size is ₹36.36 Cr.
When will Dhaval Packaging list?
The tentative listing date is 6 Aug on the SME platform.
How do I apply for the Dhaval Packaging IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Dhaval Packaging · as filed with SEBI · bsesme.com
- Red herring prospectus (RHP), Dhaval Packaging · as filed · bseindia.com
- Registrar allotment page, Kfin Technologies Ltd. · allotment 4 Aug · ipostatus.kfintech.com
- BSE SME issues page · listing 6 Aug · bsesme.com
- Dhaval Packaging company website · dhavalpackaging.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 6 Aug, 04:03 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Dhaval Packaging IPO”, https://buyunlistedshares.com/ipo/dhaval-packaging-ipo, as of 30 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. Data as of 30 Oct 2026.
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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