Listing Performance
▲ 5.00%
Issue Price
₹50
Listing Price
₹53
Listed On
19 May 2026
- Price Band
- ₹47 – ₹50
- Lot Size
- 3000
- Lot Value
- ₹1,50,000
- Open Date
- 12 May 2026
- Close Date
- 14 May 2026
- Min Investment
- ₹1,50,000
RFBL Flexi Pack — Live Stock Performance
IPO Timeline
Issue Opens
12 May 2026 · Tue
Issue Closes
14 May 2026 · Thu
Bidding Cut-off (UPI Mandate)
14 May 2026 · 5:00 PM IST
Allotment
15 May 2026 · Fri
Listing
19 May 2026 · Tue
About RFBL Flexi Pack
RFBL Flexi Pack is a manufacturer of packaging films, rolls, and pouches offering customized solutions for B2B manufacturers across diverse industries including FMCG, pharmaceuticals, and food products.
Manufactures and trades packaging films and pouches on a B2B basis, selling customized products to manufacturers based on specific orders.
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: NSE SME
Strengths (6)
- •Strong quality assurance with ISO 9001:2015 certification across all products
- •Strategic location in Gujarat near Rajasthan with reduced logistics costs
- •Experienced management team with deep packaging sector expertise
- •Owned manufacturing facility providing complete operational control and cost optimization
- •Diversified product range with customized solutions for multiple industries
- •In-house lamination and ink manufacturing ensuring quality control and supply chain independence
Risk Factors (6)
- •First public issue with no formal market; no assurance on active trading or price after listing.
- •Company, promoters and directors involved in legal proceedings; adverse decisions could materially harm business.
- •Equity investments involve high degree of risk; investors may lose entire investment.
- •Price fluctuations may be limited by circuit breakers, affecting ability to sell shares.
- •Listing and trading approval delays could prevent immediate sale of acquired equity shares.
- •Indian GAAP financial statements differ materially from IFRS and U.S. GAAP standards.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
▲ Listed +5.0%Rating will be available once subscription and GMP data is collected.
IPO Details
| Registrar | KFin Technologies Ltd. |
| Exchange | NSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹35.00 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Grow House Wealth Management Private Limited |
Company Fundamentals
9 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in RFBL Flexi Pack's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in RFBL Flexi Pack's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in RFBL Flexi Pack's filing.
Source: RFBL Flexi Pack offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+5.37%
- NII / HNI+31.78%
- Retail+62.85%
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: RFBL Flexi Pack offer document (DRHP/RHP).
Board & Management
Board of Directors (5)
- Kunjit Maheshbhai Patel₹0.24 Cr p.a.
Managing Director
Bachelor's degree in Commerce, Chartered Accountant, Company Secretary
Experience in business development, strategic planning, project execution, and organizational management across advisory, manufacturing, infrastructure, and corporate sectors.
- Amit Punambhai Parmar₹0.07 Cr p.a.
Executive Director
Bachelor of Commerce from Gujarat University, Post Graduate Diploma in Banking Operations from NIIT, Ahmedabad
Over 15 years of experience in the banking and financial services sector, specializing in branch operations, compliance, risk management, audit, and strategic business handling.
- Dipika Balkrushna Shah
Non-Executive Independent Director
Bachelor's degree in Commerce from Gujarat University, Member of the Institute of Chartered Accountants of India (ICAI), Chartered Accountant
7 years of post-qualification experience in accounting, auditing, taxation and statutory compliances, including GST and income tax matters, and preparation and finalisation of financial statements. Partner at Patel Jain & Associates.
- Kriya Dipakbhai Shah
Non-Executive Independent Director
Associate Member of the Institute of Company Secretaries of India (ICSI)
Around 1.5 years of post-qualification experience with in-depth expertise in corporate law, regulatory compliance, risk management, and board governance.
- Mayuri Bipinbhai Rupareliya
Non-Executive Independent Director
Bachelor's degree in Commerce from Saurashtra University, Gujarat, Associate Member of the Institute of Company Secretaries of India (ICSI), CS Professional qualification
Over 8 years of experience in handling secretarial, legal and regulatory compliances for listed companies, unlisted public companies, private companies and start-ups. Practicing Company Secretary since June 2017, Founder of M Rupareliya & Associates.
Key Managerial Personnel (2)
- Uday Misal
Company Secretary and Compliance Officer
Bachelor of Commerce from Seva Sadan College, Burhanpur, Associate Member of Institute of Company Secretaries of India
Over 10 years of professional experience with expertise in corporate law, secretarial practices, regulatory compliances, SEBI and RBI regulations, stock exchange compliance, labour laws, banking, and government registrations and schemes.
- Amit Punambhai Parmar
Chief Financial Officer
Bachelor of Commerce from Gujarat University, Post Graduate Diploma in Banking Operations from NIIT, Ahmedabad
Over 15 years of experience in the banking and financial services sector, specializing in branch operations, compliance, risk management, audit, and strategic business handling.
Source: RFBL Flexi Pack offer document (DRHP/RHP).
Industry & Market
Per Infomerics Analytics & Research, a report commissioned by the company (not independent).
Use of IPO Proceeds
Total allocation: ₹17.76 Cr (excludes issue expenses)
Promoters
Kunjit Maheshbhai Patel
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,50,000 |
| Retail (max) | 13 | 39,000 | ₹19,50,000 |
| S-HNI (min) | 14 | 42,000 | ₹21,00,000 |
| S-HNI (max) | 66 | 1,98,000 | ₹99,00,000 |
| B-HNI (min) | 67 | 2,01,000 | ₹1,00,50,000 |
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| RFBL Flexi Pack Limited | — | 5.13 | 60.18 | 11.08 |
Material Litigation
The company faces 19 tax proceedings with total amount involved of ₹18.95 crore, and its promoter faces 5 tax proceedings and 1 statutory/regulatory proceeding with total amount involved of ₹10.04 lakh. A promoter has provided an undertaking to personally bear and discharge any crystallized contingent liabilities.
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:KFin Technologies Ltd.→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 135.46 | 8.33 | 5.13 | — | 46.26% |
| FY24 | 79.96 | 5.79 | — | — | — |
| FY23 | 46.86 | 0.67 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Income | 46.86 | 79.96 | 135.46 |
| EBITDA | 1.34 | 8.53 | 12.57 |
| Net Worth | 3.89 | 9.68 | 18 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
9.7x
Price ÷ EPS
EPS (FY25)
₹5
Earnings per share
RoNW
46.26%
Return on net worth
ROCE
32.70%
as reported in filing
EBITDA margin
9.3%
EBITDA ÷ revenue
Price/NAV
4.51x
Price ÷ NAV (as reported)
Subscription Status
Subscription data will appear once bidding begins.
Allotment Statistics
Basis of Allotment
Category-wise subscription & allotment ratio
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| Crazy Snacks | 03 Jul 2026 | — |
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Related IPOs
Documents
Frequently Asked Questions
When is the RFBL Flexi Pack IPO opening?
The RFBL Flexi Pack IPO opens on 12 May 2026 and closes on 14 May 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the RFBL Flexi Pack IPO?
The price band for the RFBL Flexi Pack IPO is ₹47 to ₹50. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the RFBL Flexi Pack IPO?
The minimum lot size is 3000 shares with a minimum investment of ₹1,50,000. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of RFBL Flexi Pack IPO today?
Grey Market Premium data for RFBL Flexi Pack is not available yet. It typically starts appearing a few days before the IPO opens.
When will the RFBL Flexi Pack IPO list on NSE and BSE?
The RFBL Flexi Pack IPO is expected to list on 19 May 2026 on NSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the RFBL Flexi Pack IPO allotment status?
The registrar for this IPO is KFin Technologies Ltd.. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the RFBL Flexi Pack IPO a mainboard or SME issue?
RFBL Flexi Pack is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the RFBL Flexi Pack IPO?
You can apply for the RFBL Flexi Pack IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
Should I subscribe to RFBL Flexi Pack IPO?
Based on our algorithmic analysis, RFBL Flexi Pack IPO is rated UNRATED with low confidence. Rating will be available once subscription and GMP data is collected. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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