The Dhaval Packaging initial public offering () began on Thursday, 30 July, and will end on Monday, 3 August. The Dhaval Packaging IPO price band is in the range of ₹92-97 per equity share, with a face value of ₹10 per share.
Ahead of the IPO opening, Dhaval Packaging raised ₹9.99 crore from five anchor investors on Wednesday by allotting 10.3 lakh equity shares at the upper end of the price band.
Carnelian Asset Management and Advisors’ Carnelian AIF Category I Trust – Scheme 1 emerged as the largest anchor investor, subscribing to 5.16 lakh shares worth ₹5 crore. Saint Capital Fund acquired 2.05 lakh shares valued at ₹1.99 crore, while VVD Equity Fund, Jalan Chemical Industries, and Blue Aster Capital Fund each subscribed to 1.03 lakh shares worth ₹1 crore, according to reports.
Incorporated in 2015, Dhaval Packaging manufactures plastic packaging solutions for domestic and international markets, serving customers across the food and FMCG sectors. Its product portfolio caters to segments such as sweets, dairy products, dry fruits, bakery items, and other packaged food categories.
The company operates three manufacturing facilities in Sanand, Gujarat, while its corporate headquarters are located in Ahmedabad.
On the financial front, Dhaval Packaging delivered healthy growth in FY26, with profit rising 33% year-on-year to ₹8.04 crore, while revenue from operations increased 24.4% to ₹65.03 crore for the year ended March 2026.
Dhaval Packaging IPO GMP today
Dhaval Packaging IPO today is +8. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Dhaval Packaging share was ₹105 apiece, which is 8.25% higher than the IPO price of ₹97.
Observing grey market movements over the past seven sessions, the IPO’s GMP shows an upward trend today, suggesting a positive outlook for the listing. Throughout this timeframe, experts noted that the GMP fluctuated between a low of ₹0.00 and a high of ₹12.
Dhaval Packaging IPO Subscription status
Dhaval Packaging IPO subscription status was 26% on day 1, so far. The retail portion is subscribed 25%, and NII portion has been booked 70%. The employee portion has been booked 2%. QIBs are yet to be booked.
The company has received bids for 6,62,400 shares against 25,29,600 shares on offer at 12:49 IST, according to chittorgarh.com
Dhaval Packaging IPO details
The Dhaval Packaging IPO comprises a fresh issue of 37.48 lakh equity shares aggregating to ₹36.36 crore, with no offer-for-sale () component. As a result, the entire proceeds from the issue will be used to support the company’s expansion plans.
The company proposes to utilise ₹27.19 crore from the net proceeds towards capital expenditure for setting up a new manufacturing facility at Sanand, Ahmedabad. It will also use ₹3.75 crore for the repayment of certain borrowings, while the remaining funds will be earmarked for general corporate purposes.
Rarever Financial Advisors is the merchant banker to the issue.
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