Sudeep Pharma IPO...
19 Nov, 2025
Ecoline Exim IPO
Ecoline Exim Limited is launching its IPO from September 23 to September 25, 2025, aiming to raise about ₹76.42 crore through a book-built fresh issue. The Ecoline Exim IPO is a fresh issue of approximately 43.40 lakh equity shares. The price band is set in the range of ₹134 to ₹141 per share, and the minimum application size is 1,000 shares. The IPO opens on September 23 and closes on September 25, 2025. The shares are expected to be listed on the NSE and SME platforms around September 30, 2025. MUFG Intime India Private Limited is the registrar for the IPO.
Company Background
Incorporated in 2012 and headquartered in Kolkata, Ecoline Exim Limited specialises in manufacturing eco-friendly, sustainable packaging products, including promotional and packaging bags made from cotton, jute, and other textiles. The company serves global markets across 25+ countries with high-quality and socially compliant products manufactured in three plants located in Kolkata and Ahmedabad. Ecoline is known for using advanced machinery such as automated spreaders, high-performance stitching machines, and multi-colour printing technology to produce over 60 million bags annually. The company has been recognised with several export awards and a 3-Star Export House certification from the Ministry of Commerce and Industry.
Operations And Product Range
Facility And Production
Ecoline Exim IPO operates three production facilities in Kolkata and Ahmedabad, spreading over 250,000 sq. ft., equipped with modern automated spreaders, stitching machines, and printing presses that ensure scalability and quality. The manufacturing process involves precision cutting, stitching, and customisation options like vibrant printing, allowing the company to cater to diverse client requirements and high volumes with timely deliveries. These well-equipped facilities comply with technical and social auditing standards, ensuring production meets international client expectations.
Brands And Market Presence
Operating under the brand “Ecoline,” the company has carved a niche as a leading sustainable packaging manufacturer. Its products are well accepted in major markets, including the EU, USA, Japan, Southeast Asia, and Mexico. Ecoline’s distribution extends through a network of exporters and distributors, helping it maintain a prominent market share and client loyalty for eco-friendly cotton and jute bags. The company continues to enhance its portfolio with innovative and green packaging solutions focused on the growing global demand for sustainable products.
Revenue Channels
- ⦁ Revenue primarily comes from exporting cotton, jute, and textile-based eco-friendly bags to over 25 countries.
- ⦁ Domestic markets contribute through promotional bag sales and packaging solutions.
- ⦁ Customised printing and product innovation, such as organic cotton bags and fair trade-certified products, create value-added streams.
- ⦁ Growth is supported by long-term export contracts with major clients across international markets.
Management And Shareholding
Promoters And Shareholding
Ecoline Exim IPO is promoted by Sudarshan Saraogi, Saurabh Saraogi, and Shradha Saraogi. The company remains closely held by the promoter family with significant stakes vested before the IPO. The fresh issue aims to broaden ownership while retaining promoter control. Details of pre- and post-IPO shareholding are outlined in regulatory documents.
Board Members
The Ecoline Exim IPO board consists of experienced industry veterans specialising in manufacturing, export, and corporate governance. The IPO is managed by established investment banks and registrar entities with expertise in SME IPOs, ensuring a seamless process for investors and the company.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Ecoline Exim IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Ecoline Exim IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 23, 2025 to September 25, 2025 |
| IPO Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹134 to ₹141 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 54,20,000 shares (aggregating up to ₹76.42 Cr) |
| Reserved for Market Maker | 2,72,000 shares (aggregating up to ₹3.84 Cr) Hem Finlease Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 40,68,000 shares (aggregating up to ₹57.36 Cr) |
| Offer for Sale | 10,80,000 shares of ₹10 (aggregating up to ₹15.23 Cr) |
| Net Offered to Public | 51,48,000 shares (aggregating up to ₹72.59 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,61,75,376 shares |
| Share Holding Post Issue | 2,05,15,376 shares |
Ecoline Exim IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Tue, Sep 23, 2025 |
| IPO Close Date | Thu, Sep 25, 2025 |
| Tentative Allotment | Fri, Sep 26, 2025 |
| Initiation of Refunds | Mon, Sep 29, 2025 |
| Credit of Shares to Demat | Mon, Sep 29, 2025 |
| Tentative Listing Date | Tue, Sep 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Sep 25, 2025 |
Ecoline Exim IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,82,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,82,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,23,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,87,000 |
| B-HNI (Min) | 8 | 8,000 | ₹11,28,000 |
Ecoline Exim IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 100.00% |
| Promoter Holding Post Issue | 73.58% |
Competitive Strength:
- ⦁ Pioneer in eco-friendly packaging with a focus on cotton and jute bags serving global exports.
- ⦁ World-class manufacturing facilities with automation and quality certifications supporting high-volume production.
- ⦁ Wide global footprint with exports spanning over 25 countries, including developed and emerging markets.
- ⦁ Strong award-winning credentials and government recognition for export excellence.
- ⦁ Promoter-led management with over a decade of industry experience, ensuring operational stability.
Ecoline Exim IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 146.31 | 273.07 | 18.82 | 88.45 | 39.89 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 129 | 281 | 23 | 72 | 45 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 104.46 | 310.67 | 18.86 | 49.11 | 42.47 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 23.51% |
| ROCE | 21.14% |
| Debt/Equity | 0.45 |
| RoNW | 21.28% |
| PAT Margin | 6.99% |
| EBITDA Margin | 11.14% |
| Price to Book Value | 2.58 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.64 | 9 |
| P/E (x) | 12.12 | 15 |
Objectives of Ecoline Exim IPO
- ⦁ Fund working capital to scale up raw material procurement, inventory, and production.
- ⦁ Invest in plant upgrade and technology modernisation to enhance efficiency and capacity.
- ⦁ Support general corporate expenses, including marketing and export development activities.
Conclusion
Ecoline Exim IPO offers investors an opportunity to participate in the growing sustainable packaging market, driven by rising global demand for eco-friendly products. With robust manufacturing capabilities, strong global client relationships, and a focus on innovation, the company is poised for growth and expansion. The IPO aims to support this trajectory by mobilising capital for operational scaling and modernisation while enabling public participation in the company’s future growth story.
RHP:
DRHP:
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Frequently asked Questions (FAQs )
-
When does the Ecoline Exim IPO open and close?
The IPO opens on September 23, 2025, and closes on September 25, 2025.
-
What is the price band and lot size?
The price band is ₹134 to ₹141 per share, with a minimum lot size of 1,000 shares.
-
What is the issue size?
The total issue size is approximately ₹76.42 crore through a fresh issue.
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Where will the shares be listed?
The shares will be listed on the NSE Emerge platform around September 30, 2025.
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Who are the promoters of the Ecoline Exim IPO?
Sudarshan, Saurabh, and Shradha Saraogi are the promoters leading the company.
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How will the IPO proceeds be used?
The funds will be used mainly for working capital, plant upgrades, and general corporate purposes.
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