Dhaval Packaging IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 5 |
|---|---|---|---|
| QIB | 0.00x | 1.05x | 56.38x |
| NII | 1.03x | 1.79x | 75.65x |
| bNII > ₹10L | 1.25x | 2.02x | 89.44x |
| sNII 2-10L | 0.60x | 1.35x | 48.16x |
| Retail | 0.56x | 1.67x | 39.91x |
| Employee | 0.10x | 0.22x | 0.78x |
| Total | 0.48x | 1.46x | 49.83x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 43.14 | 48.08 | 52.43 | 65.20 |
| Expense | 42.54 | 46.05 | 44.40 | 54.48 |
| Profit (PAT) | 0.51 | 1.55 | 6.04 | 8.04 |
| Total Assets | 29.27 | 33.70 | 47.89 | 66.42 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Dhaval Packaging This IPO | 8.08 | - | 31.58 | 30.78 | - |
| Mold-Tek Packaging Limited | 21.93 | 31.38 | 10.98 | 199.79 | 887.86 Cr |
Promoters & Holding Pattern
Promoters: Manish Nanalal Dagla, Dhaval Nanalal Dagla, Shah Aalpa Dipak, Jigar Harivadan Contractor, and Jigar Manubhai Shah
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 99,88,000 | 90.86% |
Strengths & Risks
- Strongly subscribed — 49.8x overall (so far).
- Strong institutional (QIB) demand — 56.4x.
- Revenue grew 24% in the latest reported year.
- Solid profit margin — 12.3%.
- Strong return on equity — 32%.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Dhaval Packaging
Since its incorporation in November 2015, Dhaval Packaging has been involved in designing, manufacturing, and supplying of plastic packaging solutions for FMCG, food, and industrial sectors. The firm manufactures In-Mold Labelling (IML) food containers and SAW Pipe Protection Plastic Caps (End Caps), catering to both domestic and international markets. Its packaging solutions serve various industries: dairy, sweets, bakery, confectionery, frozen foods, pharmaceuticals, agro products, oil & gas, construction, infrastructure, and heavy engineering. The firm runs its 3 manufacturing facilities in Sanand, Gujarat, furnished with 21 IML injection moulding machines and one vacuum forming machine with a production capacity exceeding 8,000 kg per day. Moreover, Dhaval Packaging also exports its products to international countries, including Malaysia, Mauritius, Canada, the UAE, Qatar, and Australia.
Company Contact Information
Dhaval Packaging Ltd., Plot No. E 411, GIDC,, Sanand, Ahmedabad, Gujarat, 382110
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| 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 |
| Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company | 3.95 |
| General corporate purposes | - |
Resources & Documents
Anchor Investors
Dhaval Packaging IPO - Quick Take
Dhaval Packaging has set a price band of Rs 92–Rs 97 per share for an issue size of Rs 36 crore. The stock listed with a 13.40% gain versus its issue price on August 06, 2026.
The issue is promoted by Manish Nanalal Dagla, Dhaval Nanalal Dagla, Shah Aalpa Dipak, Jigar Harivadan Contractor, and Jigar Manubhai Shah with Rarever Financial Advisors Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards part finance the cost of establishing new manufacturing facility at Plot No. E – 552 in the Sanand – II Industrial Estat… (Rs 27 crore) and full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company (Rs 4 crore).
On fundamentals, the company is posting revenue growth of 24.4%, a profit margin of 12.3%, return on equity of 31.6% in its most recent reported period. Listed peers in this segment include Mold-Tek Packaging Limited (P/E 31.38x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Dhaval Packaging IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 12.4%. Of the 26 SME IPOs we have tracked with a final GMP between 10% and 25%, 21 listed above, 3 flat and 2 below the issue price; Dhaval Packaging listed 13.4% above its issue price.
See the full Dhaval Packaging GMP history and trend, or learn how grey market premium works and how reliable it is.
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