Dhaval Packaging made a strong market debut on BSE SME platform today (August 6), trading at ₹112, representing a 15.46% premium to the issue price of ₹97. The stock was listed at ₹110, a 13.40% premium to the IPO price, with the counter hitting a high of ₹114 and low of ₹106. The scrip is currently frozen at its upper limit of 5% over listing price, with about 15.90 lakh shares changing hands at the counter. This strong debut performance validates the exceptional investor confidence demonstrated during the subscription period.
The SME IPO demonstrated exceptional market demand with over 46.38 times subscription, positioning it as one of the strongest performing IPOs in recent times. The individual investors category received 40.36 times subscription, while the NII segment was booked 75.35 times, as reported by The Economic Times. Before the public issue opened, the company successfully raised ₹10.08 crore from five anchor investors by allotting 10.30 lakh equity shares at the upper price band of ₹97 apiece on Wednesday. This blockbuster response reflects strong investor confidence in the company's growth prospects and market positioning.
The Grey Market Premium (GMP) of Dhaval Packaging stood at ₹12 ahead of listing, according to The Economic Times, signalling expectations of a strong market debut. This positive GMP, calculated based on unofficial trading in the grey market, reflects market expectations before official allotment results and indicates strong investor sentiment. The estimated listing price of Dhaval Packaging IPO was ₹105, which represents an 8.25% premium over the IPO price of ₹97, suggesting potential listing gains for subscribers.
Established in November 2015, Dhaval Packaging specialises in designing, manufacturing, and supplying plastic packaging solutions for FMCG, food, and industrial sectors. The company operates three manufacturing facilities in Sanand, Gujarat, equipped with 21 IML injection moulding machines and one vacuum-forming machine, with a combined production capacity of over 8,000 kg per day. Its product portfolio serves diverse industries including dairy, confectionery, pharmaceuticals, and oil and gas sectors, with international presence in Malaysia, Mauritius, Canada, UAE, Qatar, and Australia. As of May 31, 2026, the company employed 54 permanent employees and 112 contract workers across manufacturing, quality control, sales and marketing, accounts, compliance, and administrative functions.
The IPO consists entirely of a fresh issue of 37.48 lakh equity shares worth ₹36.36 crore, with no offer-for-sale component. The company recorded revenue from operations of ₹65.03 crore and net profit of ₹8.03 crore for the period ended March 31, 2026. The company plans to allocate ₹27.19 crore towards capital expenditure for establishing a new manufacturing facility at Sanand, with ₹3.75 crore for repaying certain borrowings. The IPO opened for subscription on July 30, 2026, and closed on August 3, 2026, with the price band fixed between ₹92-97 per equity share. Rarever Financial Advisors Pvt. Ltd. serves as the book-running lead manager, with Kfin Technologies Ltd. as the registrar.
