Dhaval Packaging Launches ₹36.36 Crore SME IPO to Expand Manufacturing
Ahmedabad-based Dhaval Packaging Limited (DPL) has launched its ₹36.36 crore SME Initial Public Offering (IPO) to support the next phase of its manufacturing expansion and business growth. The IPO consists of a fresh issue of 37.49 lakh equity shares and is expected to strengthen the company’s production capabilities while supporting its long-term expansion strategy.
The company plans to utilize ₹27.19 crore from the IPO proceeds to expand its manufacturing facility at Sanand-II Industrial Estate in Gujarat. Another ₹3.75 crore will be used to reduce existing borrowings, with the remaining funds allocated for general corporate purposes.
Dhaval Packaging has set the IPO price band at ₹92–₹97 per equity share. The issue is structured with 49.95% reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (HNIs), and 35% for retail investors.
Established in 2015, Dhaval Packaging manufactures a wide range of plastic packaging solutions for both domestic and international markets. Its product portfolio includes In-Mould Labelled (IML) food-grade containers and plastic protection caps for SAW pipes, catering to industries such as food, dairy, FMCG, pharmaceuticals, construction, automotive, chemicals, and oil & gas.
The company currently operates three manufacturing facilities in Sanand, covering more than 60,000 sq. ft. and equipped with 21 injection moulding machines and one vacuum forming machine, giving it a production capacity of around 8,400 kg per day.
Dhaval Packaging has also strengthened its global presence by entering the Australian market and introducing an innovative stackable tin-plastic hybrid packaging solution designed for premium food products.
The company’s financial performance reflects steady growth. For the financial year ended March 31, 2026, Dhaval Packaging reported ₹65 crore in revenue, marking a 24.4% year-on-year increase. EBITDA grew 36.2% to ₹13.9 crore, while net profit increased 33% to ₹8 crore, supported by higher demand and expanding operations.
With fresh capital from the IPO, Dhaval Packaging aims to enhance manufacturing efficiency, meet growing customer demand, and further strengthen its position in India’s plastic packaging industry while expanding its export footprint.
