Dhaval Packaging IPO Day 1: Subscription Opens With Early Investor Interest; Retail Leads Initial Bids

Mumbai, July 30: TheDhaval Packaging IPO opened for subscription on Thursday, giving investors their first opportunity to bid for the ₹36.36 crore SME public issue. As expected on the opening morning, bidding started at a measured pace, with investors gradually entering orders across categories.

By 10:45 AM, the IPO had been subscribed 0.06 times, with retail investors accounting for most of the early demand. Institutional investors, excluding anchor investors, were yet to place bids during the initial hours, while the NII segment had also begun seeing participation.

With the issue remaining open until August 3, market participants still have multiple trading sessions to submit applications, meaning subscription figures are likely to evolve significantly over the coming days.

Retail Investors Make an Early Start

The retail category was the first to register visible demand, while the HNI segment also witnessed initial applications. QIB participation typically picks up closer to the final day of bidding, a trend often seen in book-built public issues.

As of 10:45 AM on July 30, the subscription status was:

The IPO had received 56 applications by the latest update.

Issue Details

Dhaval Packaging plans to raise ₹36.36 crore through a fresh issue of 37.48 lakh equity shares. There is no offer for sale, with the entire proceeds earmarked for the company’s growth plans.

The IPO is priced in the range of ₹92 to ₹97 per share. Retail investors can apply for a minimum of 2,400 shares, requiring an investment of ₹2,32,800 at the upper price band.

Ahead of the public issue, the company raised ₹10 crore from anchor investors.

Key Dates

• IPO closes: August 3, 2026
• Expected allotment: August 4, 2026
• Refund initiation: August 5, 2026
• Credit of shares: August 5, 2026
• Expected listing: August 6, 2026 on the BSE SME

About Dhaval Packaging

Dhaval Packaging manufactures plastic packaging products, including in-mould labelled food containers and protective plastic caps used across FMCG, food processing, pharmaceutical and industrial sectors. The company serves both domestic and export markets through its manufacturing facility in Gujarat.

Conclusion

Dhaval Packaging IPO has entered the market with a cautious start, which is not unusual for the opening day of an SME issue. With subscription remaining open until August 3, investors will now watch whether participation gathers momentum over the coming sessions, particularly from institutional and high-net-worth investors.

Source:

• https://www.chittorgarh.net/reports/anchor-investor/dhaval-packaging-ipo-anchor-allocation-report.pdf