Dhaval Packaging IPO
Dhaval Packaging IPO closed on 3 Aug 2026. Allotment 4 Aug 2026, listing 6 Aug 2026. Price band ₹92–₹97, lot 1200 shares, GMP +₹12 (12.37%). Track allotment on Allotly.
| Status | Closed |
|---|---|
| Category | SME · BSE |
| Price band | ₹92–₹97 |
| Lot size | 1200 shares |
| Minimum investment | ₹2,32,800 |
| Issue size | ₹36.36 Cr |
| GMP | +₹12 (12.37%) |
| Open date | 30 Jul 2026 |
| Close date | 3 Aug 2026 |
| Allotment date | 4 Aug 2026 |
| Listing date | 6 Aug 2026 |
About Dhaval Packaging
Dhaval Packaging Limited designs, manufactures, and supplies specialised plastic packaging solutions for domestic and international markets. The company’s core business is centred on two main product categories: In-Mold Labelling (IML) containers and Submerged Arc Welded (SAW) pipe protection plastic caps. The IML segment, which forms the cornerstone of its operations, provides food-grade, tamper-evident packaging for customers in the food and FMCG sectors, including sweets, dairy, ice cream, and bakery products. This is the company’s primary revenue source. The second segment involves producing precision-engineered end caps that protect industrial pipes from damage, contamination, and corrosion during storage and transport, serving sectors like oil and gas, construction, and infrastructure. Dhaval Packaging positions itself as a solutions partner, focusing on creating scalable and…
Strengths
- Operates a fully in-house, automated manufacturing process for In-Mold Labelling (IML).
- Backward integration with a promoter-group entity ensures uninterrupted label supply.
- Maintains a dual-segment portfolio of IML containers and industrial End Caps.
- Offers customised packaging solutions with in-house tooling and design capabilities.
- Business model is focused on long-standing relationships and key-account execution.
Risks
- A majority of revenue is concentrated from its top 10 customers.
- The business is dependent on a limited number of suppliers for raw materials.
- All manufacturing facilities are geographically concentrated in the state of Gujarat.
- Revenues are concentrated in the food, FMCG, and pipe manufacturing end-use industries.
- The company has experienced negative cash flows from investing activities in recent fiscal years.