RFBL Flexi Pack IPO 2026: Price band ₹47-50

Price band and issue opening dates

RFBL Flexi Pack Ltd, a flexible packaging materials manufacturer, has announced a price band of ₹47-₹50 per equity share for its initial public offering (IPO). The SME issue is scheduled to open for subscription on May 12, 2026, and close on May 14, 2026. The company said the IPO will be conducted on the NSE SME platform. Anchor investor bidding is slated to open on May 11, 2026. The issue is being offered through the book-building route.

Issue size, structure, and face value

The IPO size has been reported at ₹35.32-₹35.33 crore, depending on rounding in disclosures. The offer is an entirely fresh issue of up to 70,65,000 equity shares. The face value of each share is ₹10. At the indicated price band, the total issue aggregates to ₹33.21-₹35.33 crore. Because it is a fresh issue, the proceeds are intended to go to the company rather than existing shareholders.

Market maker reservation and net issue details

Offer documents cited in the provided information indicate a market maker reservation portion of 3,54,000 equity shares. That reserved portion aggregates to ₹1.66-₹1.77 crore at the offer price range. After excluding the market maker portion, the net issue is up to 67,11,000 equity shares. The net issue size works out to ₹31.54-₹33.56 crore at the price band. The issue and net issue are stated to constitute 30.30% and 28.78% of the post-issue paid-up equity share capital, respectively.

Lot size and minimum investment for retail and HNI

The lot size in the shared IPO details is shown as 3,000 shares, with applications allowed in multiples of 3,000 thereafter. However, the minimum application size for retail is stated as 6,000 shares (two lots). At the upper price band of ₹50, that translates to a minimum retail investment of ₹3,00,000 for 6,000 shares. Another data snippet also references a ₹1.41 lakh minimum investment, which corresponds to one lot of 3,000 shares at ₹47, but the minimum application is also cited as 6,000 shares in multiple places. For HNI/NII, the minimum size is stated as 3 lots or 9,000 shares, amounting to ₹4,50,000 at ₹50.

Listing venue and IPO timeline

RFBL Flexi Pack’s shares are proposed to be listed on the NSE SME platform (NSE SME Emerge is also referenced). The basis of allotment is expected on May 15, 2026. Refund initiation and credit of shares to demat accounts are scheduled for May 18, 2026. The tentative listing date is May 19, 2026. The bidding cut-off time on the last day is stated as 5 PM on May 14, 2026.

Key intermediaries named in the issue

The issue’s book running lead manager is named as Grow House Wealth Management. Kfin Technologies Ltd has been appointed as registrar to the issue. The market maker is stated as MNM Stock Broking. These roles are standard for SME issues, where market maker participation is disclosed as part of the offer structure.

Other disclosed indicators: premium and implied market capitalisation

Offer details state that the issue price includes a premium of ₹37-₹40 per share over the ₹10 face value. One of the inputs also mentions that, at the upper band, the company is looking at a market capitalisation of ₹116.58 crore. Separately, the IPO’s grey market premium (GMP) is reported as ₹0 (0%) in the provided text at the time of that update. This GMP figure is presented as a sentiment indicator in the source, without additional commentary.

Busy SME primary market: RFBL and Goldline open May 12

The provided information also notes that India’s primary market is set for a busy week with two SME IPOs. RFBL Flexi Pack and Goldline Pharmaceutical are scheduled to open for subscription on May 12 and close on May 14, with tentative listings on May 19. Together, the two issues are described as aiming to raise close to ₹47 crore. Goldline Pharmaceutical’s price band is stated at ₹41-₹43 per share, with a minimum retail investment of ₹2.58 lakh for 6,000 shares. Goldline is expected to list on the BSE SME platform and operates an asset-light pharmaceutical marketing business under the “Goldline” brand across segments including cardiology, orthopaedics, paediatrics, diabetes care and critical care.

Snapshot table: RFBL Flexi Pack IPO facts

Timeline table: key dates to track

What investors should take away

RFBL Flexi Pack’s IPO is positioned as the larger of the two SME issues opening on May 12, based on the ₹35.33 crore target size cited. The disclosed minimum retail application of 6,000 shares makes the ticket size materially higher than many mainboard IPO minimums, reaching ₹3.00 lakh at the upper band. The offer is fully fresh issue, and the documents also spell out the market maker reservation and net issue sizes. With tentative listings scheduled for May 19, the post-issue timeline is compact, with allotment expected on May 15 and demat credit on May 18. Investors tracking the SME segment will also be watching Goldline Pharmaceutical’s offer window in the same week, given the shared subscription dates and a different sector exposure through pharma marketing.