RFBL Flexi Pack Limited SME IPO: High GMP or Risky Bet? Full Details

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RFBL Flexi Pack Limited SME IPO
RF
RFBL Flexi Pack Limited IPO
Flexible Packaging · B2B Integrated Model · Himatnagar Plant · Multilayer Films
📋 SME IPO Fresh Issue NSE SME
₹50
Upper Price
₹35.33 Cr
Issue Size
May 19, 2026
Listing Date
₹116.58 Cr
Market Cap
📅 IPO Timetable
All dates tentative
🟢
IPO Opens
Tuesday, 12 May 2026
Bidding starts — apply before close
🔒
IPO Closes
Thursday, 14 May 2026
Last day to bid — closes at 5:00 PM IST
📊
Friday, 15 May 2026
Allotment finalised by registrar
🔄
Monday, 18 May 2026
Unallotted funds returned; shares credited to demat
🏷️
Tuesday, 19 May 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date12 May 2026 (Tue)
IPO Close Date14 May 2026 (Thu)
Listing Date19 May 2026 (Tue)
Face Value₹10 per share
Price Band₹47 to ₹50
Issue Price (Upper Band)₹50 per share
Issue TypeBook Build — Fresh Issue
Lot Size3,000 shares
Total Issue Size70,65,000 shares (₹35.33 Cr)
Fresh Issue70,65,000 shares (₹35.33 Cr)
Market Maker Shares3,54,000 shares
Pre-Issue Shares1,62,50,000
Post-Issue Shares2,33,15,000
Promoter Holding (Pre)100.00%
Lead ManagerGrow House Wealth
RegistrarKfin Technologies
💰 Lot Size & Minimum Investment
At upper price ₹50
Investor TypeLotsSharesAmount
Retail — Minimum & Maximum26,000₹3,00,000
S-HNI (sNII) — Min39,000₹4,50,000
S-HNI (sNII) — Max618,000₹9,00,000
B-HNI (bNII) — Min721,000₹10,50,000
⚠️ SME IPO Note: Minimum application for retail is 2 lots (6,000 shares = ₹3,00,000). Retail maximum limit is also 2 lots. Lot size is 3,000 shares; bids must be in multiples thereof.
👥 Investor Reservation
Total 70,65,000 shares
5.36%
QIB Portion
3,60,000 shares
62.85%
Retail (RII)
42,18,000 shares
31.78%
NII / HNI
21,33,000 shares
💡 Market Maker: MNM Stock Broking Pvt.Ltd. has been allocated 3,54,000 shares (5.01% of issue) to ensure liquidity post-listing.
📊 Live Subscription Status
Awaiting Bidding
Subscription data will be available once bidding begins on May 12, 2026. Check back for live updates from 10:00 AM IST.
📈 Company Financials
Restated · ₹ Crore
Metric30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Total Assets51.5446.9422.4810.21
Total Income69.66135.4679.9646.86
PAT3.848.335.790.67
EBITDA5.9612.578.531.34
Net Worth21.8418.009.683.89
Total Borrowing17.5118.885.232.06
Income Growth
FY 2023–24₹79.96 Cr
FY 2024–25₹135.46 Cr
H1 FY26 (Sep 2025)₹69.66 Cr
🎯 Key Performance Indicators
60.18%
ROE
FY 2024–25
32.70%
ROCE
FY 2024–25
6.15%
PAT Margin
FY 2024–25
1.05
Debt/Equity
FY 2024–25
19.26%
ROE (H1 FY26)
Sep 30, 2025
14.26%
ROCE (H1 FY26)
Sep 30, 2025
5.51%
PAT Margin
Sep 30, 2025
3.72x
Price/Book
Sep 30, 2025
⚖️ Valuation & EPS
Pre-IPO EPS
₹5.13
FY25 earnings / pre-issue shares
P/E: 9.75x
Post-IPO EPS
₹3.29
Annualised H1 FY26 / post-issue shares
P/E: 15.19x
Price to Book Value
4.51x
At upper price band (FY25 book)
Market Cap (Pre-IPO)
₹116.58 Cr
At issue price ₹50
ℹ️ Pre-IPO EPS (₹5.13) based on pre-issue shareholding (1,62,50,000) and FY25 earnings. Post-IPO EPS (₹3.29) based on post-issue shareholding (2,33,15,000) and annualised H1 FY26 earnings.
🎯 Objects of the Issue
Net proceeds utilisation
1
To meet capital expenditure requirements for machinery and unit expansion
₹12.41 Cr
2
Funding incremental working capital requirements
₹17.76 Cr
Total Net Proceeds Target ₹30.18 Cr
🏢 About RFBL Flexi Pack Limited
Est. 2005 · Himatnagar, Gujarat · Flexible Packaging

RFBL Flexi Pack Limited is a specialist in the manufacturing and trading of printed multilayer flexible packaging materials. The company provides a wide range of customized products, including plastic film rolls and pouches, primarily serving B2B clients in the food, pharmaceutical, and home care sectors.

Operating from its manufacturing base in Himatnagar, Gujarat, the company focuses on durability and moisture resistance using advanced materials like BOPP and CPP. Their integrated business model combines self-reliant production with a trading network for woven fabrics and laminated films to ensure efficient scale and delivery.

Competitive Strengths
✅Integrated and self-reliant manufacturing operations ensuring consistent quality
📍Strategic location advantage in Gujarat for nationwide distribution and logistics
📋Customized and flexible product offerings tailored to specific B2B client needs
👨‍💼Experienced leadership team with deep technical and financial domain expertise
Company Promoters
KP
Kunjit Maheshbhai Patel
Promoter, RFBL Flexi Pack Limited
RT
Roopyaa Tradebizz Limited
Promoter Entity, RFBL Flexi Pack Limited
📅 Key Dates
IPO Opens12 May 2026
IPO Closes14 May 2026
Allotment15 May 2026
Refund & Share Credit18 May 2026
Listing Day19 May 2026
💡 Quick Summary
Price Band₹47 – ₹50
Issue Price₹50 / share
Lot Size3,000 shares
Min. Investment (Retail)₹3,00,000 (2 lots)
Issue Size₹35.33 Cr
ListingNSE SME
🏦 Registrar & Lead Manager
Registrar
Kfin Technologies Ltd.
📞 040-67162222
[email protected]
Lead Manager
Grow House Wealth Management
Market Maker
MNM Stock Broking Pvt.Ltd.
📍 Registered Address
RFBL Flexi Pack Ltd.
Survey No 32, Plot No 15,
Behind Marutinandan Temple Dhandha,
Himatnagar, Gujarat — 383001
📞 +91 9998825511
[email protected]
🛡️ Regulatory Note: SME IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️ Disclaimer: This page presents publicly available information from the RFBL Flexi Pack IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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