Bharat Pet files draft papers for Rs 760-crore IPO; issue largely an offer for sale

New Delhi-based packaging solutions provider Bharat Pet on March 25 has filed draft document with Securities and Exchange Board of India (SEBI) to raise funds up to Rs 760 crore via IPO.

The company approached capital markets to raise Rs 120 crore by issuing fresh shares, while promoters will be selling shares worth Rs 640 crore.

Eight promoters including Deepak Gupta, Ankur Gupta and Rahul Gupta are proposed to sell shares in the offer-for-sale.

Also, the company may consider raising funds up to Rs 24 crore in pre-IPO round, which is a part of fresh issue component.

With four manufacturing facilities in Delhi, Haryana, Gujarat and Jammu, the packaging company manufactures PET bottles & jars, preforms, multi-layer co-extruded bottles, caps & closures, and tin containers, foussing more on the agrochemical industry along with other sectors like food and beverages, pharmaceutical, paint and industrial chemical and liquor.

The company serves several marquee customers such as Tata Consumer Products, Daawat Foods, Dhanuka Agritech, PI Industries, India Pesticides, Safex Chemicals (India), GSP Crop Science, Alcobrew Distilleries India, Energy Beverages, Fresca Foods, and Manas Agro Industries.

Bharat Pet that competes with listed peers like Mold-Tek Packaging, Shaily Engineering Plastics, and Time Technoplast proposed to utilise Rs 50 crore of proceeds from the fresh issue for repayment of certain borrowings, Rs 35.8 crore for purchase of machinery and equipment, and the remaining amount for general corporate purposes.

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The company has recorded profit of Rs 36.7 crore in the year ended March 2025, registering a 30.6 percent growth over Rs 28.2 crore in previous year. Revenue from operations during the same period increased by 27 percent to Rs 332.9 crore from Rs 262.1 crore.

Further, profit for six months period ended September 2025 was Rs 33.3 crore on revenue of Rs 226.8 crore.

Equirus Capital, and Ambit are appointed as the book running lead managers for managing the Bharat Pet IPO.