Ecoline Exim IPO

Ecoline Exim Limited specialises in manufacturing sustainable cotton, jute packaging, and promotional bags for the global market. The company exports its products to over 25 countries, including the European Union, the USA, Japan, Southeast Asia, and Mexico. Acting as an OEM, it provides packaging solutions for supermarkets, retail chains, wholesalers, and promotional companies. By September 30, 2024, Ecoline Exim had sold products to 48 customers for functional purposes and 24 customers for promotional needs. As of December 31, 2024, the company had an outstanding order book worth ₹97.44 crore for cotton and jute bags from approximately 60 customers. By January 2025, the company operates three manufacturing units, with one in Ahmedabad, Gujarat, and two in West Bengal. As of September 30, 2024, it employed 267 people across its various locations, reflecting its operational scale and market presence.

Ecoline Exim Limited IPO Overview

Ecoline Exim IPO is a book-built issue worth ₹76.42 crore, comprising a fresh issue of 0.43 crore shares aggregating to ₹61.19 crore and an offer for sale of 0.11 crore shares worth ₹15.23 crore. The IPO opens for subscription on September 23, 2025, and closes on September 25, 2025, with the allotment expected to be finalised on September 26, 2025. The shares are proposed to be listed on NSE SME, with a tentative listing date of September 30, 2025. The price band for the IPO is set between ₹134 and ₹141 per share, with a lot size of 1,000 shares. The minimum investment for retail investors is ₹2,82,000 (for 2,000 shares at the upper price), while high-net-worth investors need to apply for a minimum of 3 lots (3,000 shares), amounting to ₹4,23,000. Hem Securities Ltd. is the book running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar of the issue.

Ecoline Exim Limited IPO Details

Particulars	Details
IPO Date	23 September 2025 to 25 September 2025
Listing Date	30 September 2025
Face Value	₹10 per share
Issue Price Band	₹134 to ₹141 per share
Lot Size	1,000 Shares
Total Issue Size	54,20,000 shares (aggregating up to ₹76.42 Cr)
Fresh Issue	40,68,000 shares (aggregating up to ₹57.36 Cr)
Offer for Sale	10,80,000 shares (aggregating up to ₹15.23 Cr)
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Share Holding Pre Issue	1,61,75,376 shares
Share Holding Post Issue	2,05,15,376 shares
Market Maker Portion	2,72,000 shares

Ecoline Exim Limited IPO Reservation

Investor Category	Shares Offered
QIB	Not more than 50% of the Net Issue
Retail	Not less than 35% of the Net Issue
NII (HNI)	Not more than 15% of the Net Issue

Ecoline Exim Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	2,000	₹2,82,000
Retail (Max)	2	2,000	₹2,82,000
S-HNI (Min)	3	3,000	₹4,23,000
S-HNI (Max)	7	7,000	₹9,87,000
B-HNI (Min)	8	8,000	₹11,28,000

Ecoline Exim Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	100%
Post-Issue	73.58%

Ecoline Exim Limited IPO Valuation Overview

KPI	Value
EPS	13.97 (Pre-IPO), 11.01 (Post-IPO)
P/E Ratio	10.1 (Pre-IPO), 12.81 (Post-IPO)
Return on Equity (ROE)	23.51%
Return on Capital Employed (ROCE)	21.14%
Debt to Equity Ratio	0.45
RoNW	21.28%
PAT Margin	6.99%
EBITDA Margin	11.14%
Price to Book Value	2.58

Objectives of the Proceeds

• Funding capital expenditure for new manufacturing facility at Ahmedabad – ₹50 Cr

• General corporate purposes to strengthen operational capabilities and working capital

Key Financials (₹ in Lakhs)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	14,630.73	12,872.45	10,445.65
Revenue	4,683.12	3,260.93	2,841.99
Profit After Tax	18.82	22.59	18.86
Reserves and Surplus	7,226.97	7,054.49	4,795.60
Total Borrowings	3,974.88	4,211.46	3,464.67