Dhaval Packaging Ipo
Dhaval Packaging IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Rarever Financial Advisors Pvt. Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | July 30, 2026 |
| IPO Close Date | August 3, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹92 to ₹97 Per Share |
| Issue Size | Approx ₹36.36 Crores |
| Fresh Issue | Approx ₹36.36 Crores |
| Issue Type | Book build Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,400 | ₹2,32,800 |
| Retail Maximum | 2 | 2,400 | ₹2,32,800 |
| S-HNI Minimum | 3 | 3,600 | ₹3,49,200 |
| S-HNI Maximum | 8 | 9,600 | ₹9,31,200 |
| B-HNI Minimum | 9 | 10,800 | ₹10,47,600 |
| Investor Category | Share Offered | Shares (%) |
| Anchor Investor | 10,30,800 Shares | 27.50% |
| QIB (Ex. Anchor) | 6,87,600 Shares | 18.34% |
| NII Shares Offered | 5,17,200 Shares | 13.80% |
| Retail Shares Offered | 12,04,800 Shares | 32.14% |
| Anchor Bidding Date | July 29, 2026 |
| Anchor Investors List | |
| Shares Offered | 10,30,800 Shares |
| Anchor Size | 10.00 Cr. |
| lock-in period end date 50% shares (30 Days) | Sep 3, 2026 |
| lock-in period end date 50% shares (90 Days) | Nov 2, 2026 |
| IPO Open Date: | July 30, 2026 |
| IPO Close Date: | August 3, 2026 |
| Basis of Allotment: | August 4, 2026 |
| Refunds: | August 5, 2026 |
| Credit to Demat Account: | August 5, 2026 |
| IPO Listing Date: | August 6, 2026 |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 99,88,000 | 90.86% |
| Promoter Holding Post Issue | 1,37,36,800 | -% |
| Purpose | Crores |
| Part finance the cost of establishing new manufacturing facility at Plot No. E – 552 in the Sanand – II Industrial Estate, Hirapur, Taluka Sanand, District Ahmedabad (“Proposed facility”) | ₹27.19 |
| Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company | ₹3.95 |
| General corporate purposes | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹43.14 | ₹42.54 | ₹0.51 | ₹29.27 |
| 2024 | ₹48.08 | ₹46.05 | ₹1.55 | ₹33.70 |
| 2025 | ₹52.43 | ₹44.40 | ₹6.04 | ₹47.89 |
| 2026 | ₹65.20 | ₹54.48 | ₹8.04 | ₹66.42 |
| KPI | Values |
| ROE: | 31.58% |
| ROCE: | 22.58% |
| EBITDA Margin: | 21.41% |
| PAT Margin: | 12.33% |
| Debt to equity ratio: | 0.78 |
| Earning Per Share (EPS): | ₹8.08 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 31.58% |
| Net Asset Value (NAV): | ₹30.78 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Mold-Tek Packaging Limited | 21.93 | 31.38 | 10.98% | 199.79 | 887.86 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |