Dhaval Packaging IPO
Packaging • ₹36cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- SME listing with thinner post-listing liquidity
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹92-97
Lot Size
1200 shares
Issue Size
₹36cr
Open
30 Jul 2026
Close
03 Aug 2026
Subscription
46.2×
GMP +₹12 → est. ₹109
IPO Schedule
| Issue Open Date | 30 Jul 2026 |
| Issue Close Date | 03 Aug 2026 |
| Allotment Date | 04 Aug 2026 |
| Listing Date | 06 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 manufacturable packaging that enhances product integrity and shelf presence for its clients.
Company Details
Founders / Promoters
Mr Manish Nanalal Dagla
Founded
2015
Registrar
KFin Technologies Ltd
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Dhaval Packaging — IPOFins Verdict
QuantitativeDriven by QIB demand at 56.4x and elevated disclosed risk (7/10), Dhaval Packaging listed at a premium of 13.4% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- 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.
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score +0.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹97
Listing Price
₹110
Listing Gain/Loss
+13.40%
Listing Date
06 Aug 2026
Price Since Listing
Returns are measured against the ₹97 issue price.
Listing
₹110
+13.4%
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FAQ
What is the price band of Dhaval Packaging IPO?
The price band is ₹92-97 per share with a lot size of 1200 shares. Minimum investment: ₹1,16,400.
What does Dhaval Packaging do?
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 manufacturable packaging that enhances product integrity and shelf presence for its clients.
Should I apply for Dhaval Packaging IPO?
Dhaval Packaging listed at ₹110 (+13.4% premium to the ₹97 issue price) after 46.2x subscription. IPOFins Score 7/10: Driven by QIB demand at 56.4x and elevated disclosed risk (7/10), Dhaval Packaging listed at a premium of 13.4% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Dhaval Packaging?
Dhaval Packaging was founded by Mr Manish Nanalal Dagla in 2015.