Leapfrog Engineering Services IPO...
18 Apr, 2026
Knack Packaging IPO
Knack Packaging IPO Details
The Knack Packaging IPO is a 100% book-built issue comprising a fresh issue of ₹475 crore and an offer for sale (OFS) of 70 lakh equity shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on Sep 4, 2025.
The price band and official dates of subscription and listing will be announced by the company later, but the shares are supposed to be listed on the BSE and the NSE platforms. The book-running lead managers (BRLMs) are Systematix Corporate Services Ltd., IDBI Capital Markets & Securities Ltd. and Pantomath Capital Advisors Private Ltd., while the registrar to the issue is MUFG Intime India Private Ltd.
Knack Packaging IPO Date & Timeline
Knack Packaging Ltd. filed its Draft Red Herring Prospectus (DRHP) on Sep 4, 2025. However, the specific Knack Packaging IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalise the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.
Knack Packaging IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Knack Packaging IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Company Background
Knack Packaging Ltd. was incorporated in March 2013 as a private company. Over a decade, it has emerged as a leading player in providing integrated packaging solutions in India. Recognising the need to grow further, the company was converted from a private company to a public limited company in June 2025. The company currently undertakes the business of providing high-quality, customised flexible packaging solutions, particularly highlighting printed and laminated woven polypropylene bags. The company started off as a manufacturer in India but has now emerged as a leading exporter, thereby establishing a presence in terms of geography.
Operations & Product Range
The operational framework of Knack Packaging Ltd. revolves around the manufacturing of complex and high-strength packaging materials. The range of products includes PP/HDPE woven sacks and BOPP-laminated PP woven bags, including specialised pinch-bottom versions. However, the packaging solutions of the company include innovative features such as six-sided branding, quick-open features and anti-counterfeiting features. The target customers and markets include critical industries such as food, pet food and the agro-commodity industry.
Facilities & Capacity
To support a wide range of products, Knack Packaging Ltd. has very advanced and integrated manufacturing units in Gujarat, which cover an area of more than 1.1 million square feet of land. The installed capacity of the company is optimised using advanced technology and digital tracking. In terms of expansion, the organisation aims to increase its manufacturing capacity by setting up a new state-of-the-art manufacturing plant in Borisana, Kadi, Mehsana, Gujarat.
Brands & Market Presence
Knack Packaging Ltd. has a strong presence in the competitive flexible plastic packaging sector, holding an estimated 10% market share in India's flexible bulk PLWPP bags for fiscal 2025. Known for its technical expertise and customer-focused solutions, the company also has a dedicated team of more than 1300+ specialists, serving top-tier brands and ensuring its products meet high international quality and durability standards.
Revenue Streams & Business Model
The primary revenue sources of Knack Packaging Ltd. are generated from the sale of specialised BOPP Laminated PP woven bags and PP/HDPE woven sacks. The business model captures value across the entire production chain, from initial conceptualisation to final delivery. The company maintains a balanced geography-wise revenue contribution, supported by strong export operations that deeply complement its domestic sales. For FY25, revenue from operations stood at a strong ₹736.49 crore, driven by sustained contract demand from the food, pet food and agro-commodity sectors.
Management & Shareholding
The manufacturing and shareholding of Knack Packaging Ltd. are anchored by a dedicated team of promoters, including Alpesh Tulsibhai Patel, Pravinkumar Ambalal Patel and Rashminbhai Tulsibhai Patel. Before the IPO, the promoter group had a majority stake of 89.6% in the pre-issue shareholding, but after the IPO, the promoters will see a dilution in the shareholding, as the offering includes 70 lakh equity shares via existing shareholders, which will introduce new shareholders and dilute the ownership.
Board & Key Management
The board and key management of Knack Packaging Ltd. possess over 20 years of expertise in manufacturing and finance. It includes a mix of executive and independent directors who uphold corporate governance. The promoters are actively involved in decision-making, supported by professionals like compliance officer Saloni Ghanshyambhai Hurkat. This experienced leadership effectively steers the company towards operational excellence.
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.
Knack Packaging IPO GMP
| 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.**
Knack Packaging IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹10 per Equity Share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Issue and Offer for Sale (OFS) |
| Total Issue Size | Up to ₹[●] Cr (Fresh Issue of ₹475.00 Cr + OFS of 7,000,000 shares) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | Up to ₹475.00 Cr (Aggregating up to ₹4,750.00 million) |
| Offer for Sale | Up to 7,000,000 Equity Shares (Aggregating up to ₹[●] Cr) |
| Net Offered to Public | - |
| Issue Type | 100% Book Built Issue |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 10,00,00,000 Equity Shares |
| Share Holding Post Issue | - |
Knack Packaging IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | 5:00 PM on the Bid/Offer Closing Date |
Knack Packaging IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | - | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | - | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | - | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | - | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | - | Over ₹10,00,000 |
Knack Packaging IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 89.6% |
| Promoter Holding Post Issue | - |
Competitive Strength:
- • Proprietary software manages integrated, digitised operational systems for real-time tracking and supply chain efficiency
- • Advanced technical expertise in complex product design, enabling multi-layer lamination and anti-counterfeit features
- • A diversified market presence and strong industry reach, serving over 1,900 domestic and international customers
- • A diversified market presence and strong industry reach, serving over 1,900 domestic and international customers
Knack Packaging IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 449.36 | 747.38 | 73.81 | 214.71 | 209.71 | 172.06 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 379.38 | 659.01 | 45.98 | 140.62 | 135.62 | 173.09 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 269.33 | 518.47 | 19.87 | 95.34 | 90.34 | 122.66 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 41.70% |
| ROCE | 50.36% |
| Debt/Equity | 0.80x |
| RoNW | 41.54% |
| PAT Margin | 9.88% |
| EBITDA Margin | 19.31% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.38 | [.] |
| P/E (x) | [.] | [.] |
Knack Packaging IPO Objectives
- • Funding the working capital expenditure requirements for establishing a new manufacturing facility at the Borisana project site in Kadi, Mehsana, Gujarat
- • General corporate purposes
Knack Packaging IPO Review
The Knack Packaging IPO review shows a chance to invest in a well-established player in the flexible plastic packaging space. The company is in a good business position with a significant market share in the specialised PLWPP bulk bags segment. The ability to operate in domestic as well as international markets gives a diversified operational platform, which effectively manages regional economic fluctuations.
Financially, the company has demonstrated a strong growth trajectory. For the fiscal year ending March 31, 2025, it reported a total income of ₹747.38 crore and a profit after tax of ₹73.8 crore. The business maintains healthy performance metrics, including a strong Return on Equity (RoE) and an EBITDA margin of 19.31%, underlining its operational efficiency and effective cost management.
The DRHP talks about its main strengths, which are its vertically integrated manufacturing capabilities and its large customer base. Potential risks naturally involve the seamless execution of its large-scale capacity expansion in Gujarat and the inherent volatility of raw material prices in the plastic sector. The business presents a fundamentally sound profile focused on scaling infrastructure to meet rising global packaging demand.
Conclusion
The Knack Packaging IPO allows investors to make investments in a growing company that has been able to establish an execution focus and a robust business model with strong revenue flows from both domestic and export markets. The flexible packaging industry continues to offer large growth opportunities and by using its technical expertise and digitalisation, they are well placed to move forward. The Knack Packaging IPO demonstrates a clear strategy in terms of capacity expansion and innovation in the industrial packaging space.
IPO DRHP Status
| # | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 04-09-2025 | View DRHP |
| 2 | SEBI/Exchange approval received | 26-12-2025 | - |
Learn about IPO fundamentals in our IPO Process guide. Check upcoming IPOs in the IPO Calendar Explore our IPO Advisory Services, Project Funding Services, Rights Issue Advisory for IPO guidance.
Read More IPO ReviewsFrequently Asked Questions (FAQs)
-
What are the Knack Packaging IPO details?
This issue comprises a fresh issue of equity shares worth up to ₹475 crore and an Offer for Sale (OFS) of up to 70 lakh equity shares by the existing promoters and shareholders. The face value of each equity share is ₹10.
-
What is the Knack Packaging IPO size?
The total offering size includes the ₹475 crore fresh issue alongside the proceeds from the sale of up to 70 lakh existing equity shares through the OFS route.
-
What is the Knack Packaging IPO date?
The opening and closing dates of subscriptions and listing will be announced by the company later.
-
What is the Knack Packaging IPO GMP today?
Since the company has only filed its DRHP and the official price band is unannounced, the Grey Market Premium (GMP) is not available yet. GMP activity typically begins closer to the official launch date.
-
What type of issue is the Knack Packaging IPO?
The offering is structured as a 100% book-built issue. Under this mechanism, the final issue price is determined based on the demand generated from investors during the bidding period.
-
Who are the promoters of Knack Packaging?
The promoters are Alpesh Tulsibhai Patel, Pravinkumar Ambalal Patel and Rashminbhai Tulsibhai Patel.
-
What are the objectives of the Knack Packaging IPO?
IPO proceeds will be used to fund the construction of a new manufacturing plant located in Borisana, Kadi, Mehsana, Gujarat and for general corporate purposes.
