Published: 7 May 2026 | 5.55 AM
Last Updated: 19 May 2026 | 9.30 AM
Listed @ Rs. 52 (5% Gain)
IPO Overview / Intro
RFBL Flexi Pack IPO is an SME book-built issue of Rs. 35.33 crore. The issue comprises entirely a fresh issue of 0.71 crore shares. The IPO opens for subscription on 12 May 2026 and closes on 14 May 2026. The company is proposed to be listed on the NSE SME platform on 19 May 2026. RFBL Flexi Pack Limited is engaged in manufacturing and trading printed multilayer flexible packaging materials including plastic film rolls and pouches for food, pharmaceutical and home-care industries through an integrated B2B packaging model.
👉 | GMP | Reviews | Subscription | Allotment
Key Highlights
| Particulars |
Details |
| IPO Type |
SME Book Build IPO |
| Issue Size |
Rs. 35.33 Cr |
| Business |
Flexible Packaging Solutions |
| Listing Exchange |
NSE SME |
| Issue Nature |
Fresh Issue Only |
| Price Band |
Rs. 47 to Rs. 50 |
| Retail Application |
2 Lots Mandatory |
| Listing Date |
19 May 2026 |
| Lead Manager |
Grow House Wealth Management Pvt. Ltd. |
| Registrar |
Kfin Technologies Ltd. |
RFBL Flexi Pack IPO GMP – Latest Update
> RFBL IPO Allotted Application Rate Rs.6,000
| Particulars |
Details |
| IPO GMP Today |
Rs. 2 |
| Kostak |
NA |
| Subject to Sauda |
NA |
| GMP Trend |
Awaited |
RFBL Flexi Pack IPO Subscription Status – Live Update
| Investor Category |
Subscription Status |
| QIB |
124.39x |
| NII |
24.12x |
| Retail |
11.36x |
| Total |
21.48x |
IPO Details at a Glance
| Particulars |
Details |
| IPO Date |
12 May to 14 May 2026 |
| Listing Date |
19 May 2026 |
| Face Value |
Rs. 10 per share |
| Price Band |
Rs. 47 to Rs. 50 |
| Lot Size |
3,000 Shares |
| Issue Type |
Bookbuilding IPO |
| Sale Type |
Fresh Issue Only |
| Listing At |
NSE SME |
| Total Issue Size |
70,65,000 Shares (Rs. 35.33 Cr) |
| Market Maker Portion |
67,11,000 Shares (Rs. 33.55 Cr) |
| Fresh Issue (Ex-Market Maker) |
3,54,000 Shares (Rs. 1.77 Cr) |
| Net Offer to Public |
3,54,000 Shares (Rs. 1.77 Cr) |
| Shareholding Pre Issue |
1,62,50,000 Shares |
| Shareholding Post Issue |
2,33,15,000 Shares |
| Market Cap (Pre-IPO) |
Rs. 116.58 Cr |
IPO Timetable
| Event |
Date |
| IPO Open |
Tuesday, 12 May 2026 |
| IPO Close |
Thursday, 14 May 2026 |
| Allotment Finalisation |
Friday, 15 May 2026 |
| Refund Initiation |
Monday, 18 May 2026 |
| Credit of Shares |
Monday, 18 May 2026 |
| Listing Date |
Tuesday, 19 May 2026 |
Reservation
| Investor Category |
Shares Offered |
| Market Maker Shares Offered |
67,11,000 |
| Total Shares Offered |
67,11,000 |
Lot Size
| Application |
Lots |
Shares |
Amount |
| Retail (Min) |
2 |
6,000 |
Rs. 3,00,000 |
| Retail (Max) |
2 |
6,000 |
Rs. 3,00,000 |
| S-HNI (Min) |
3 |
9,000 |
Rs. 4,50,000 |
| S-HNI (Max) |
6 |
18,000 |
Rs. 9,00,000 |
| B-HNI (Min) |
7 |
21,000 |
Rs. 10,50,000 |
Company Details
RFBL Flexi Pack Limited, incorporated in July 2005, manufactures and trades printed multilayer flexible packaging materials such as plastic film rolls and pouches for various industrial packaging applications. The company primarily caters to food, pharmaceutical and home-care industries with customised flexible packaging solutions.
The company operates through an integrated B2B model focused on multilayer plastic films, moisture-resistant packaging materials and customised industrial packaging products using BOPP, CPP and laminated films. It also trades woven fabric packaging materials and polyester laminated films to expand its product offerings.
Its manufacturing facility is located in Himatnagar, Gujarat. The company focuses on durability, product safety and customised packaging requirements while maintaining strong client relationships and repeat business from industrial customers.
| Particulars |
Details |
| Registered Office |
Survey No 32, Plot No 15, Behind Marutinandan Temple Dhandha, Sabarkantha, Himatnagar, Gujarat – 383001 |
| Phone |
+91 9998825511 |
| Email |
info@rfblflexipack.com |
| Manufacturing Facility |
Himatnagar, Gujarat |
| Business Segment |
Flexible Packaging Materials |
| Operating Model |
B2B Packaging Solutions |
| Particulars |
Details |
| Lead Manager |
Grow House Wealth Management Pvt. Ltd. |
| Registrar |
Kfin Technologies Ltd. |
| Market Maker |
NA |
Financials
| Particulars (Rs. Cr.) |
30 Sep 2025 |
FY25 |
FY24 |
FY23 |
| Assets |
51.54 |
46.94 |
22.48 |
10.21 |
| Total Income |
69.66 |
135.46 |
79.96 |
46.86 |
| Profit After Tax |
3.84 |
8.33 |
5.79 |
0.67 |
| EBITDA |
5.96 |
12.57 |
8.53 |
1.34 |
| Net Worth |
21.84 |
18.00 |
9.68 |
3.89 |
| Reserves & Surplus |
5.59 |
16.75 |
8.43 |
2.64 |
| Total Borrowings |
17.51 |
18.88 |
5.23 |
2.06 |
Valuation
| Objects of the Issue |
Estimated Amount (Rs. Cr.) |
| Capital Expenditure Requirements |
12.41 |
| Working Capital Requirements |
17.76 |
| General Corporate Purpose |
Balance |
| Total |
30.18 |
| KPI |
Nov 30, 2025 |
Mar 31, 2025 |
| ROE |
19.26% |
60.18% |
| ROCE |
14.26% |
32.70% |
| Debt/Equity |
0.80 |
1.05 |
| RoNW |
17.57% |
46.26% |
| PAT Margin |
5.51% |
6.15% |
| EBITDA Margin |
8.55% |
9.28% |
| Price to Book Value |
3.72 |
4.51 |
| Particulars |
Pre IPO |
Post IPO |
| EPS (Rs.) |
5.13 |
3.29 |
| P/E (x) |
9.75 |
15.19 |
| Promoter Holding |
100.00% |
69.70% |
| Market Cap |
Rs. 116.58 Cr |
NA |
Chanakya View
RFBL Flexi Pack IPO operates in the industrial flexible packaging segment where demand continues to rise from food processing, pharmaceuticals and FMCG industries. The company has shown strong revenue growth over the last three financial years along with improving profitability and scale expansion.
Its integrated manufacturing operations, customised packaging capabilities and strategic Gujarat manufacturing base are positives. However, the packaging industry remains highly competitive with margin pressures linked to raw material price fluctuations and customer concentration risks.
| Parameter |
Chanakya View |
| Business Model |
Industrial Flexible Packaging |
| Financial Trend |
Strong Growth |
| Margin Profile |
Moderate |
| Valuation |
Reasonably Priced |
| Risk Level |
Moderate |
| Listing Appeal |
Decent |
| Long-Term Appeal |
Selective |
Chanakya View: RFBL Flexi Pack IPO appears to be a Selective SME IPO suitable for investors looking at manufacturing-led packaging businesses with moderate risk appetite and medium-term growth potential.
