RFBL Flexi Pack IPO

RFBL Flexi Pack IPO Subscription Status

RFBL Flexi Pack IPO subscribed 1.24 times by May 12, 2026 5:05:01 PM (Day 1).

RFBL Flexi Pack IPO Subscription Status Day 1

About RFBL Flexi Pack Ltd.

RFBL Flexi Pack Ltd., incorporated in July 2005, is engaged in the manufacturing and trading of multilayer flexible packaging materials. The company primarily caters to packaging requirements across industries such as food processing, pharmaceuticals, home care, and consumer goods.

Its product portfolio includes printed multilayer films, pouches, laminated rolls, woven fabric packaging materials, and polyester laminated products. The company follows a B2B operating model and focuses on supplying customised packaging solutions tailored to specific client requirements.

RFBL Flexi Pack manufactures flexible plastic films using multilayer processing techniques intended to improve packaging durability, shelf life, and product presentation. Alongside manufacturing activities, the company also undertakes trading operations in selected packaging materials and film-based products.

According to the RHP, the company serves customers requiring customised and scalable packaging products across multiple industrial applications.

RFBL Flexi Pack IPO Details

RFBL Flexi Pack IPO is a book-built SME public issue aggregating up to ₹35.33 crore. The IPO consists entirely of a fresh issue of 70.65 lakh equity shares with no offer-for-sale component. The company plans to list its shares on the NSE SME platform.

The public issue opens for subscription on 12 May 2026 and closes on 14 May 2026. As per the tentative schedule outlined in the RHP, the basis of allotment is expected to be finalised on 15 May 2026, while the listing is proposed on 19 May 2026.

The company has fixed the IPO price band at ₹47 to ₹50 per share with a face value of ₹10 each. Investors will have to bid in lots of 6,000 shares (2 lots of 3000 shares). At the upper end of the price band, the minimum retail investment works out to ₹3,00,000 for two lots (6,000 shares).

Grow House Wealth Management Pvt. Ltd. is acting as the Book Running Lead Manager to the issue, while KFin Technologies Ltd. has been appointed as the registrar. The market maker for the issue is MNM Stock Broking Pvt. Ltd.

RFBL Flexi Pack IPO Overview

Particulars	Details
IPO Name	RFBL Flexi Pack IPO
Issue Type	Bookbuilding SME IPO
Issue Size	₹35.33 Crore
Fresh Issue	70,65,000 Equity Shares
Offer for Sale	Nil
Price Band	₹47 to ₹50 per share
Face Value	₹10 per share
Lot Size	3,000 Shares
Listing Exchange	NSE SME
IPO Open Date	12 May 2026
IPO Close Date	14 May 2026
Tentative Listing Date	19 May 2026
Market Capitalisation (Pre-IPO)	₹116.58 Crore
Registrar	KFin Technologies Ltd.
BRLM	Grow House Wealth Management Pvt. Ltd.
Market Maker	MNM Stock Broking Pvt. Ltd.

RFBL Flexi Pack IPO Dates

Event	Tentative Date
IPO Opening Date	12 May 2026
IPO Closing Date	14 May 2026
Basis of Allotment	15 May 2026
Initiation of Refunds	18 May 2026
Credit of Shares to Demat	18 May 2026
Listing Date	19 May 2026

RFBL Flexi Pack IPO Lot Size

Application Category	Lots	Shares	Amount
Retail (Minimum)	2	6,000	₹2,82,000
Retail (Maximum)	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

RFBL Flexi Pack IPO Reservation

Investor Category	Reservation
QIB	Not more than 50% of Net Issue
Retail Investors	Not less than 35% of Net Issue
NII/HNI	Not less than 15% of Net Issue

RFBL Flexi Pack IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹5.13 (Pre-IPO) / ₹3.29 (Post-IPO)
Price/Earnings (P/E) Ratio	9.75x (Pre-IPO) / 15.19x (Post-IPO)
Return on Net Worth (RoNW)	17.57%
Net Asset Value (NAV)	₹11.08 per share
Return on Equity (ROE)	19.26%
Return on Capital Employed (ROCE)	14.26%
EBITDA Margin	8.55%
PAT Margin	5.51%
Debt to Equity Ratio	0.80x

RFBL Flexi Pack IPO Objectives

The company proposes to utilise the net proceeds from the fresh issue towards the following objectives:

Sr. No.	Objects of the Issue	Estimated Amount (₹ Cr.)
1	Capital expenditure requirements	12.41
2	Funding working capital requirements	17.76
3	General corporate purposes	Balance Amount

RFBL Flexi Pack Financial Information

All figures below are stated in ₹ crore.

Period Ended	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	51.54	46.94	22.48	10.21
Total Income	69.66	135.46	79.96	46.86
Profit After Tax	3.84	8.33	5.79	0.67
Reserves & Surplus	5.59	16.75	8.43	2.64
Total Borrowings	17.51	18.88	5.23	2.06

SWOT ANALYSIS

Strengths & Opportunities	Weaknesses & Threats
Strong quality assurance ensures consistent product reliability and customer trust.	Small-scale operations may limit scalability and execution capabilities.
Strategic Gujarat location supports efficient logistics and supply chain access.	Moderate profit margins may face pressure from rising costs.
Integrated manufacturing enables operational efficiency and better cost control.	Dependence on raw material prices may affect profitability.
Customised packaging solutions position company for sector demand growth.	Intense industry competition could impact market share expansion.
IPO funding can support expansion and long-term business growth.	Regulatory changes and economic slowdown may affect demand.

IPO Strengths

• Strong focus on quality assurance, ensuring consistent product reliability and customer satisfaction.
• Strategic location advantage, supporting efficient logistics and timely product delivery.
• Experienced leadership and skilled workforce, driving operational efficiency and business growth.
• Integrated and self-reliant manufacturing operations, enabling better production control and cost efficiency.
• Customised and flexible product offerings, tailored to meet diverse client packaging needs.
• Strong client relationships and repeat business, reflecting customer trust and long-term partnerships.

Peer Comparison

Company Name	EPS (Basic)	EPS (Diluted)	NAV (₹/share)	P/E (x)	RoNW (%)	P/BV Ratio
RFBL Flexi Pack Limited	5.13	5.13	11.08	—	60.18	—
Peer Group
Uma Converter Limited	1.33	1.33	37.06	14.47	3.66	68.46
Sabar Flex India Limited	0.37	0.28	17.71	13.92	2.12	—