About RFBL Flexi Pack IPO
RFBL Flexi Pack IPO Details
RFBL Flexi Pack IPO is a 100% book-built issue of worth up to ₹35 crore, entirely a fresh issue of 70.65 lakh equity shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on March 13, 2026.
The price band is set at ₹47 to ₹50 per share and the lot size for an application is 3,000 shares. The minimum amount of investment required by an individual investor (retail investor) is ₹100 (6,000 shares). The IPO will be open for subscription from May 12 to 14, 2026, on the NSE SME platform, with a tentative listing date fixed as May 19, 2026. The book-running lead manager (BRLM) to the issue is Grow House Wealth Management Pvt. Ltd., while the registrar to the issue is Kfin Technologies Ltd.
RFBL Flexi Pack IPO Date & Timeline
The RFBL Flexi Pack IPO is officially set to open for subscription on May 12, 2026 and will close on May 14, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on March 13, 2026 and has now finalised its schedule following SEBI approval. The subscription window allotment is expected on May 15, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on May 18, 2026. Finally, the RFBL Flexi Pack Ltd.'s shares are tentatively scheduled to list on the stock exchanges on May 19, 2026.
RFBL Flexi Pack IPO Timeline
| IPO Open Date | Tue, May 12, 2026 |
| IPO Close Date | Thu, May 14, 2026 |
| Tentative Allotment | Fri, May 15, 2026 |
| Initiation of Refunds | Mon, May 18, 2026 |
| Credit of Shares to Demat | Mon, May 18, 2026 |
| Tentative Listing Date | Tue, May 19, 2026 |
| Cut-off time for UPI mandate confirmation | - |
RFBL Flexi Pack IPO Details
| Detail | Description |
|---|---|
| IPO Date | 12 to 14 May, 2026 |
| Listing Date | Tue, May 19, 2026 |
| Face Value | ₹ 10 per share |
| Issue Price Band | ₹ 47 to ₹ 50 |
| Lot Size | 3,000 Shares |
| IPO Type | Fresh capital only |
| Total Issue Size | 70,65,000 shares (agg. up to ₹ 35 Cr) |
| Reserved for Market Maker | 67,11,000 shares (agg. up to ₹ 34 Cr) |
| Fresh Issue(Ex Market Maker) | 3,54,000 shares (agg. up to ₹ 2 Cr) |
| Net Offered to Public | 3,54,000 shares (agg. up to ₹ 2 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,62,50,000 shares |
| Share Holding Post Issue | 2,33,15,000 shares |
RFBL Flexi Pack 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 RFBL Flexi Pack IPO GMP is currently trading at ₹0, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹50, which is 0.00% 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.
RFBL Flexi Pack GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2026-05-19 | ₹50.00 | ₹1.5 | 2026-05-19 |
| 2026-05-18 | ₹50.00 | ₹2 | 2026-05-18 |
| 2026-05-17 | ₹50.00 | ₹0 | 2026-05-17 |
| 2026-05-16 | ₹50.00 | ₹0 | 2026-05-16 |
| 2026-05-15 | ₹50.00 | ₹0 | 2026-05-15 |
| 2026-05-14 | ₹50.00 | ₹4 | 2026-05-14 |
| 2026-05-13 | ₹50.00 | ₹0 | 2026-05-13 |
| 2026-05-12 | ₹50.00 | ₹0 | 2026-05-12 |
| 2026-05-11 | ₹50.00 | ₹0 | 2026-05-11 |
| 2026-05-10 | ₹50.00 | ₹0 | 2026-05-10 |
| 2026-05-09 | ₹50.00 | ₹0 | 2026-05-09 |
| 2026-05-08 | ₹50.00 | ₹0 | 2026-05-08 |
| 2026-05-07 | ₹50.00 | ₹0 | 2026-05-07 |
Company Background
RFBL Flexi Pack Ltd. was incorporated on July 11, 2005, in Himatnagar, Gujarat, as Sabar Flexi Pack Private Limited. It transitioned to the name RFBL Flexi Pack Private Limited in December 2022 before converting into a public company, RFBL Flexi Pack Limited, in July 2023.
The firm has built a legacy of over two decades (20+ years) in the packaging sector and has evolved from a private enterprise into a scaled-up entity focusing on the specialised requirements of the multilayer packaging industry. They also manufacture packaging rolls via various kinds of films.
Operations & Product Range
RFBL Flexi Pack Ltd. mainly works in the field of manufacturing and trading of multilayer flexible packaging materials with print work. This product category includes plastic film rolls and bags, which are needed for packaging in various industrial fields. Apart from manufacturing, the company also engages in the trading of woven fabric packaging materials and different types of polyethene laminated films. The company follows an integrated approach wherein the scrap material produced during the manufacturing process is also sold.
Facilities & Capacity
RFBL Flexi Pack Ltd. operates its manufacturing unit at Dhandha, Himatnagar, in the Sabarkantha district of Gujarat. This facility allows the company to maintain end-to-end control over the production process, from raw material procurement to final quality inspection and dispatch. The integrated nature of these operations supports effective resource management and helps the company maintain consistency in product quality while serving its primary markets in Gujarat and Rajasthan.
Brands & Market Presence
RFBL Flexi Pack Ltd. has managed to create a powerful market positioning strategy based on the capacity of the company to offer customised packaging solutions. One of the most significant advantages that the firm has over other players in the industry is its strategically located production facilities, which enable the company to enjoy proximity to the Rajasthan market, an area that the firm sees as having huge potential but lacking flexible packaging options.
Revenue Streams & Business Model
The primary revenue stream for RFBL Flexi Pack Ltd. is the domestic sale of manufactured and traded packaging products. For FY25, the company reported revenue from operations of ₹135.46 crore and the EBITDA was reported at ₹12.57 crore. The business model involves working closely with clients to provide tailor-made designs and material specifications that comply with specific sustainability and industry norms. Revenue is generated through both the direct sale of finished goods to end-users and the trading of complementary packaging materials like woven fabrics.
Management & Shareholding
The promoters of RFBL Flexi Pack Ltd. are Kunjit Maheshbhai Patel and Roopyaa Tradebizz Limited. Before the IPO, the promoters held a majority stake in the company, but after the IPO, the shareholding pattern will be adjusted to account for the fresh issue of up to 70.65 lakh equity shares, though the promoters will continue to hold a significant portion of the post-issue capital.
Board & Key Management
The leadership of RFBL Flexi Pack Ltd. is led by a team of experts with many years of experience. Kunjit Maheshbhai Patel serves as the Chairman & Managing Director and gives strategic direction to the firm and the daily operations. To ensure good governance, the board includes independent directors Kriya Dipakbhai Shah and Mayuri Bipinbhai Rupareliya for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.
RFBL Flexi Pack IPO Financial Information
Latest Revenue
69.66
₹ Crore
Profit After Tax
3.84
₹ Crore
Net Worth
21.84
₹ Crore
Total Borrowing
17.51
₹ Crore
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Nov 2025 | 51.54 | 69.66 | 3.84 | 21.84 | 5.59 | 17.51 | |||
| 31 Mar 2025 | 46.94 | 135.46 | 8.33 | 18 | 16.75 | 18.88 | |||
| 31 Mar 2024 | 22.48 | 79.96 | 5.79 | 9.68 | 8.43 | 5.23 | |||
| 31 Mar 2023 | 10.21 | 46.86 | 0.67 | 3.89 | 2.64 | 2.06 | |||
| Amount in ₹ Crore | |||||||||
RFBL Flexi Pack Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 19.26% |
| ROCE | 14.26% |
| Debt/Equity | 0.80 |
| RoNW | 17.57% |
| PAT Margin | 5.51% |
| EBITDA Margin | 8.55% |
| Price to Book Value | 3.72 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.13 | 3.29 |
| P/E (x) | 9.75 | 15.19 |
RFBL Flexi Pack IPO Objectives
The company plans to utilize the RFBL Flexi Pack IPO proceeds for strategic purposes:
- • Funding the company’s working capital requirements
- • General corporate purposes
RFBL Flexi Pack IPO Review
RFBL Flexi Pack Ltd. stands as an established player in the SME packaging segment, leveraging a combination of manufacturing and trading capabilities. The business positioning is strengthened by its "self-reliant" manufacturing model, which grants the company better control over quality and costs compared to pure-trading entities.
Financially, the company has shown growing and healthy financials; for FY25, the revenue from operations was reported at ₹135.46 crore and the PAT was reported at ₹8.32 crore. A noticeable point is that nearly 65% of the revenue has been generated by their top 10 repeat customers, which shows a red indicator to the investors.
However, investors should balance these strengths against industry risks, such as fluctuations in raw material prices and the evolving regulatory landscape for plastic-based packaging. Overall, this IPO presents an opportunity to invest, but the stock's future performance will depend on the management's ability to deploy the IPO proceeds effectively to capture market share.
Conclusion
RFBL Flexi Pack IPO represents an opportunity for investors to invest in a growing company that has two decades of market experience and in which they can solidify its position in the multilayer packaging industry. With a focus on quality assurance and a strategic geographic advantage in Western India, the company has built a foundation for scale. As the packaging sector continues to evolve with changing consumer habits, RFBL Flexi Pack’s integration of manufacturing and trading serves as a key pillar for its future execution.
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Competitive Strengths
Strategic location for manufacturing (in Rajasthan) and a comprehensive, self-reliant manufacturing operation.
Quality service of products with a high-quality production procedure.
Experienced management and a skilled workforce that determines the product standards.
Providing flexible and customised service offering.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 6,000 | ₹3,00,000 |
| Individual investors (Retail) (Max) | 2 | 6,000 | ₹3,00,000 |
| S-HNI (Min) | 3 | 9,000 | ₹4,50,000 |
| S-HNI (Max) | 6 | 18,000 | ₹9,00,000 |
| B-HNI (Min) | 7 | 21,000 | ₹10,50,000 |