Packaging solutions provider SD International Ltd has filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering. According to the draft red herring prospectus (DRHP) filed on Monday, the proposed IPO comprises a fresh issue of 1,30,00,000 shares and an offer-for-sale of 35,00,000 shares by promoter Vinay Agarwal. The fresh issue proceeds will be utilized for debt clearance, funding capital expenditure needs towards the purchase of equipment and machinery, and general corporate purposes.
SD International manufactures semi-rigid and rigid food packaging products in India, serving various end-use segments including dairy, sweets and confectionery, takeaway and food-service establishments, bakeries, branded food products and agro-based produce. As of financial year 2025-26, the company offered over 250 SKUs across multiple product categories and maintained a diversified customer base of over 834 customers in FY26, compared to 802 customers in FY25 and 553 customers in FY24. The company's product portfolio includes in-mould labelled containers, takeaway containers, tamper-evident containers, sipper glasses, PET sauce cups, and various packaging solutions for different industries.
The company may consider a pre-IPO placement for up to 26,00,000 shares, which would reduce the fresh issue size if completed. Valmiki Leela Capital serves as the sole book-running lead manager of the issue, while KFIN Technologies acts as the registrar. Shares of the company will be listed on the National Stock Exchange (NSE) and BSE. According to the company's draft papers, the listing is expected to enhance visibility and brand image among existing and potential clients, and create a public market for equity shares.
