RFBL Flexi Pack Ltd.
RFBLSME
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Overview
RFBL Flexi Pack Limited is a Gujarat-based B2B flexible packaging company engaged in manufacturing and trading printed multilayer flexible packaging materials such as plastic film rolls and pouches used across food, pharmaceutical, home care and personal care applications. RFBL Flexi Pack Limited also trades woven fabric packaging materials, polyester laminated films and other packaging films, while monetizing packaging waste through scrap sales. The company operates from Himatnagar with an owned manufacturing facility, quality-controlled production processes, ISO 9001:2015 certification, and a customer-focused model supported by strategic access to western and northern Indian markets.
Opening Date
May 12, 2026
Closing Date
May 14, 2026
Listing Date
May 19, 2026
IPO Type
SME
IPO Status
Open
Issue Size
35.33 Cr
Fresh Issue
35.33 Cr
Offer for Sale
0 Cr
Price Band
₹47 - ₹50
Lot Size
3000
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
The main objectives of the issue are to support capacity expansion, strengthen operating liquidity, and enhance the company’s market position through listing.
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To meet capital expenditure requirements for establishing a new manufacturing facility at Survey No. 47/1 Paiki, Moje: Dhandha, Taluka Himatnagar, Sabarkantha, Gujarat, including acquisition of land measuring 4,502 square meters, construction of factory infrastructure and associated facilities, and purchase of new plant and machinery.
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To fund the company’s working capital requirements for its existing and expanding flexible packaging operations, including procurement of raw materials, inventory holding, trade receivables support, and operating needs until and after commencement of commercial production at the proposed new facility.
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To support general corporate purposes, including meeting business development needs, administrative requirements, strategic initiatives, and issue-related flexibility within the regulatory cap applicable to such utilization.
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To achieve the benefits of listing the equity shares on the NSE Emerge platform, including enhancement of corporate image, brand visibility, transparency, and creation of a public market for the company’s equity shares in India.
Key Performance Indicator
P/E Ratio
9.75
EPS
5.13
ROE
19.26%
ROCE
14.26%
RONW
17.57%
Debt to Equity Ratio
—
PAT Margin
5.51%
EBITDA Margin
8.55%
P/B
3.72
SWOT Analysis
Strengths
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Experienced management team led by professionals with strong finance, governance and packaging sector understanding.
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Owned manufacturing facility in Himatnagar provides operational control, cost efficiency and faster execution.
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Diversified flexible packaging portfolio serving food, pharmaceutical, home care and personal care applications.
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In-house quality processes, lamination capability and ISO 9001:2015 certification support product consistency and customer retention.
Weaknesses
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Revenue is highly concentrated geographically, with sales overwhelmingly derived from Gujarat in recent periods.
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Business depends significantly on trading activities, which can dilute manufacturing margins and reduce value addition.
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Customer and supplier concentration is high, with a large share of revenue and procurement linked to a limited number of counterparties.
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Existing machinery has operational and technological limitations, leading to outsourcing of higher-precision jobs.
Opportunities
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New manufacturing facility can expand capacity, improve efficiency and shift outsourced precision work to in-house production.
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Rising demand for flexible packaging from food, pharma, FMCG and e-commerce can support sustained volume growth.
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Advanced machinery can help broaden product offerings, improve quality consistency and increase operating margins.
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Listing may enhance brand credibility, improve market visibility and support expansion into new customers and regions.
Threats
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Raw material prices for films, adhesives and related petrochemical inputs are volatile and may pressure profitability.
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Evolving environmental and plastic waste regulations could require product changes, compliance spending and technology upgrades.
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Intense competition from organized and regional packaging manufacturers may affect pricing power and market share.
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Outstanding tax proceedings and contingent tax claims may create financial or reputational pressure if resolved adversely.
Subscription Rate
Frequently Asked Questions about RFBL Flexi Pack Ltd.
RFBL Flexi Pack Limited is a Gujarat-based B2B flexible packaging company engaged in manufacturing and trading printed multilayer flexible packaging materials such as plastic film rolls and pouches used across food, pharmaceutical, home care and personal care applications. RFBL Flexi Pack Limited also trades woven fabric packaging materials, polyester laminated films and other packaging films, while monetizing packaging waste through scrap sales. The company operates from Himatnagar with an owned manufacturing facility, quality-controlled production processes, ISO 9001:2015 certification, and a customer-focused model supported by strategic access to western and northern Indian markets.
The RFBL Flexi Pack Ltd. IPO is scheduled to open for subscription on May 12, 2026 and close on May 14, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the RFBL Flexi Pack Ltd. IPO is ₹47 to ₹50. Investors can place bids within this range once the issue opens.
The minimum lot size for the RFBL Flexi Pack Ltd. IPO is 3000 shares. The minimum investment amount ₹1,50,000.
The total issue size of the RFBL Flexi Pack Ltd. IPO is approximately ₹35.33. Issue size represents the total value of shares offered to the public.
As per the latest available information, the RFBL Flexi Pack Ltd. IPO has been subscribed data will be available once the issue opens. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the RFBL Flexi Pack Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of RFBL Flexi Pack Ltd. are expected to list on stock exchanges on May 19, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the RFBL Flexi Pack Ltd. IPO are proposed to be used for The main objectives of the issue are to support capacity expansion, strengthen operating liquidity, and enhance the company’s market position through listing., To meet capital expenditure requirements for establishing a new manufacturing facility at Survey No. 47/1 Paiki, Moje: Dhandha, Taluka Himatnagar, Sabarkantha, Gujarat, including acquisition of land measuring 4,502 square meters, construction of factory infrastructure and associated facilities, and purchase of new plant and machinery., To fund the company’s working capital requirements for its existing and expanding flexible packaging operations, including procurement of raw materials, inventory holding, trade receivables support, and operating needs until and after commencement of commercial production at the proposed new facility., To support general corporate purposes, including meeting business development needs, administrative requirements, strategic initiatives, and issue-related flexibility within the regulatory cap applicable to such utilization., To achieve the benefits of listing the equity shares on the NSE Emerge platform, including enhancement of corporate image, brand visibility, transparency, and creation of a public market for the company’s equity shares in India.
Before applying for the RFBL Flexi Pack Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
