SME IPO · NSE SME · Listed
Dhaval Packaging IPO
Dhaval Packaging is a listed issue, offered in a price band of ₹92 to ₹97 per share, in lots of 1200 shares. Every figure below is taken from the issue's own filings and exchange disclosures.
Issue details
- Price band
- ₹92 – ₹97
- Lot size
- 1200 shares
- Minimum investment
- ₹1,16,400
- Issue size
- ₹36.36 Cr
- Fresh issue
- ₹36.36 Cr
- Offer for sale
- —
- Opens
- 30 Jul 2026
- Closes
- 3 Aug 2026
- Listing date
- 6 Aug 2026
- Registrar
- KFin TechnologiesLimited
- Symbol
- DHAVALPACK
One lot of 1200 shares at the upper band price of ₹97 is ₹1,16,400 — the smallest retail application this issue accepts.
Lead managers: RAREVER FINANCIAL ADVISORS PRIVATE LIMITED.
Subscription status
How many times the issue has been applied for, by investor category, as reported by the exchange at 3 Aug 2026, 05:55 pm IST.
Dhaval Packaging IPO — subscription by category| Category | Times subscribed |
|---|
| Qualified institutional buyers (QIB) | 21.52× |
|---|
| Non-institutional investors (NII / HNI) | 42.75× |
|---|
| Retail individual investors | 22.49× |
|---|
| Total | 25.33× |
|---|
Grey market premium (GMP)
- Latest reported GMP
- ₹12
- Implied over upper band
- 12.40%
- As of
- 6 Aug 2026, 07:05 pm IST
How the reported premium has moved. The trend matters more than any single reading — a premium that is drifting down into the close is a different signal from one holding firm.
Dhaval Packaging IPO — reported GMP history| Reported at | GMP |
|---|
| 6 Aug 2026, 07:05 pm IST | ₹12 |
|---|
| 5 Aug 2026, 07:05 pm IST | ₹10 |
|---|
| 4 Aug 2026, 07:05 pm IST | ₹8 |
|---|
| 3 Aug 2026, 07:05 pm IST | ₹5 |
|---|
| 3 Aug 2026, 04:30 pm IST | ₹5 |
|---|
| 3 Aug 2026, 03:30 pm IST | ₹5 |
|---|
| 3 Aug 2026, 02:30 pm IST | ₹5 |
|---|
| 3 Aug 2026, 02:00 pm IST | ₹12 |
|---|
| 3 Aug 2026, 01:00 pm IST | ₹12 |
|---|
| 3 Aug 2026, 12:00 pm IST | ₹12 |
|---|
| 3 Aug 2026, 11:00 am IST | ₹12 |
|---|
| 3 Aug 2026, 10:00 am IST | ₹12 |
|---|
Grey Market Premium is an unofficial, unregulated over-the-counter datapoint reported by third parties. It is not a price, a forecast, or an indication of listing gains, and is not investment advice.
Reported financials
As disclosed in the offer document. Figures in ₹ crore unless the filing states otherwise.
Dhaval Packaging — financials from the offer document| PAT | Assets | Expense | Revenue | Period Ended |
|---|
| ₹0.51 | ₹29.27 | ₹42.54 | ₹43.14 | 2023 |
|---|
| ₹1.55 | ₹33.70 | ₹46.05 | ₹48.08 | 2024 |
|---|
| ₹6.04 | ₹47.89 | ₹44.40 | ₹52.43 | 2025 |
|---|
| ₹8.04 | ₹66.42 | ₹54.48 | ₹65.20 | 2026 |
|---|
Strengths disclosed in the offer document
- The company has an in-house manufacturing process for IML containers with automation, which shortens cycle times and improves quality control.
- Backward integration through Octa Labels provides direct control over the critical path, enabling faster artwork-to-production lead times and better quality control.
- The company operates with a dual-segment portfolio, serving both food-grade IML and industrial End Caps markets, which improves plant utilization and delivery reliability.
- The company has experienced promoters with extensive experience in the packaging industry, contributing to its growth and development.
- The company has a strong focus on customer-centric service, aligning design, materials, and labeling with production realities to enhance shelf presence and product integrity.
Risk factors disclosed in the offer document
- A majority of the company's revenue is derived from its top 10 customers, and the loss of any of these customers could adversely impact its business and results of operations.
- The company depends on a limited number of suppliers for its raw material requirements and does not have definitive agreements or fixed terms of trade with most of them.
- Any disruptions to the supply or increases in the pricing of raw materials and finished products could adversely affect the company's operations, financial condition, and profitability.
- The company's revenues are significantly dependent on certain geographical regions, and any adverse developments in these regions could adversely impact its business, financial condition, and results of operations.
- The company's manufacturing facilities are located only in the state of Gujarat, exposing it to regional risks that could adversely affect its operations.
- The company's business operations are highly dependent on the efficient functioning of its manufacturing machinery, and any breakdown, malfunction, or technical failure may adversely affect its production and profitability.
- The company has not yet placed orders in relation to the capital expenditure to be incurred for the proposed purchase of equipment/machineries, and any delay or failure in procurement could lead to cost overruns and delays in implementation.
These are the company's own disclosures, not Alphave's assessment. Read the offer document →
What this page will not tell you
- Whether to apply
- Alphave is NISM-certified, not a SEBI-registered research analyst. There is no rating, verdict or recommendation on this issue anywhere on this page.
- What it will list at
- Nobody knows, and GMP is not a forecast of it. It is an unofficial over-the-counter quote reported by third parties, shown here with its source time so you can judge how stale it is.
- Your allotment
- Allotment is decided by the registrar (KFin TechnologiesLimited) after the issue closes. Track the whole calendar in the IPO Centre.
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