RFBL Flexi Pack will issue 70,65,000 shares in its IPO. The nominal value of these shares is ₹10. The total issue amounts to ₹35 crore. The bidding period commences on May 12, 2026. The applications can be placed until the offer period ends on May 14, 2026. The share allotment will be done on May 15, 2026. The IPO will make its NSE SME debut on May 19, 2026.
The price range of this issue is from ₹47 to ₹50. Each lot is made up of 3,000 shares. The participation for retail investors starts at 2 lots, requiring an investment of ₹3,00,000. The minimum bid for the sNII category is 3 lots, meaning an outlay of ₹4,50,000. The bNII are required to bid at least 7 lots, which amount to ₹10,50,000
RFBL Flexi Pack IPO Details
The key particulars related to this issue are provided in the table below:
| Particulars | Details |
| Bidding Opens | May 12, 2026 |
| Bidding Closes | May 14, 2026 |
| Face Value | ₹10 per share |
| Issue Type | Bookbuilding Issue |
| Price Band | ₹47 to ₹50 |
| Issue Price | – |
| Listing at | NSE SME |
| Lot Size | 3,000 Shares |
| Fresh Issue | 3,54,000 shares (₹2 Crore) |
| Reserved for Market Maker | 67,11,000 shares (₹34 Crore) |
| Offer for Sale(OFS) | – |
| Total Issue | 70,65,000 shares (₹35 Crore) |
| Minimum Investment | ₹3,00,000 |
RFBL Flexi Pack IPO Timeline
The IPO is set to run in accordance with the given schedule:
| Particulars | Details |
| Bidding Opens | May 12, 2026 |
| Bidding Closes | May 14, 2026 |
| Tentative Allotment | May 15 2026 |
| Refunds Start On | May 18, 2026 |
| Share Credit to Demat | May 18, 2026 |
| Listing Scheduled | May 19, 2026 |
| Cut-off for UPI mandate | 5:00 PM on May 14, 2026 |
Key Performance Indicators of RFBL Flexi Pack
The RFBL Flexi Pack KPIs are outlined in the following table:
| KPIs | FY25 | FY24 | FY23 |
| ROE (%) | 60.18 | 85.33 | 21.76 |
| ROCE (%) | 32.70 | 53.90 | 19.26 |
| Debt Equity (times) | 1.05 | 0.54 | 0.53 |
| RoNW (%) | 60.18 | 85.33 | 21.76 |
| PAT Margin (%) | 6.15 | 7.24 | 1.43 |
| EBITDA Margin (%) | 9.28 | 10.67 | 2.86 |
| Price Book Value | 4.51 | – | – |
Financials of RFBL Flexi Pack
Here is an overview of RFBL Flexi Pack’s financial figures:
| Particulars (in ₹ lakh) | FY25 | FY24 | FY23 |
| Total Assets | 4,693.60 | 2,248.28 | 1,020.93 |
| Revenue | 13,546.19 | 7,996.46 | 4,686.48 |
| Profit | 832.91 | 578.72 | 66.98 |
RFBL Flexi Pack IPO Subscription Status
Since the RFBL Flexi Pack IPO has not opened for subscription yet, bidding data is currently unavailable. The details will be made available when the issue starts on May 12, 2026.
Investors can apply from 10:00 AM to 5:00 PM on all days of the subscription window.
RFBL Flexi Pack IPO Grey Market Premium
The grey market premium (GMP) for the RFBL Flexi Pack IPO is currently ₹0, reflecting muted investor sentiment. Based on the prevailing trend, the shares are likely to list near the issue price of ₹50, indicating limited listing gains at this stage.
| GMP Date | GMP | Est. Listing Price | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 11-05-2026 | ₹0 ─ | ₹50 (0.00%) | ₹0 | 11-May-2026 20:28 |
| 10-05-2026 | ₹0 ─ | ₹50 (0.00%) | ₹0 | 10-May-2026 23:37 |
| 09-05-2026 | ₹0 ─ | ₹50 (0.00%) | ₹0 | 9-May-2026 23:36 |
| 08-05-2026 | ₹0 ─ | ₹50 (0.00%) | ₹0 | 8-May-2026 23:34 |
| 07-05-2026 | ₹0 ─ | ₹50 (0.00%) | ₹0 | 7-May-2026 23:37 |
Note: GMP figures are derived from unofficial market activity and are meant only for informational purposes. They can fluctuate with changes in market sentiment and demand,
RFBL Flexi Pack IPO Reservation
The offering reserves portions for different investor categories, as outlined below:
| Investor Category | Reservation |
| Market Maker Shares | 67,11,000 |
| QIB Shares | – |
| NII (HNI) Shares | – |
| Retail Shares | 3,54,000 shares |
| Total Shares | 70,65,000 shares |
RFBL Flexi Pack IPO Lot Size
Investors need to place their bids as per the lot sizes specified below:
| Investor Type | Lots | Shares | Amount |
| Retail Investors – Minimum Bid | 2 | 6,000 | ₹3,00,000 |
| Retail Investors – Maximum Bid | 2 | 6,000 | ₹3,00,000 |
| S-HNI – Minimum Bid | 3 | 9,000 | ₹4,50,000 |
| S-HNI – Maximum Bid | 6 | 18,000 | ₹9,00,000 |
| B-HNI – Minimum Bid | 7 | 21,000 | ₹10,50,000 |
RFBL Flexi Pack IPO Anchor Investors
The details of the anchor investor participation in this offering are as follows:
| Particulars | Details |
| Anchor Bidding Opens | – |
| Shares Offered | Not Yet Disclosed |
| Portion Size | QIB portion’s 60% |
| 50% Shares Lock-in (30 Days) | June 14, 2026 |
| Remaining shares Lock-in (90 Days) | August 13, 2026 |
RFBL Flexi Pack IPO Prospectus
For more details on the offering, check these linked documents.
| Draft Red Herring Prospectus (DRHP) | |
| Red Herring Prospectus (RHP) | |
| Anchor Investors | – |
| Final Prospectus | Not Disclosed Yet |
About RFBL Flexi Pack
RFBL Flexi Pack started its operations in 2005 in Gujarat. Mr. Kunjit Maheshbhai Patel heads the organisation as the managing director. Him and Roopyaa Tradebizz Limited are promoters of the company. The firm is engaged in the making and trading of flexible packaging materials like plastic pouches and film rolls that are used across industries such as food, pharmaceuticals, and home and personal care.
The company operates on a business-to-business (B2B) model. It provides packaging solutions built for barrier protection and longevity. With rising demand for flexible packaging, the company aims to strengthen its market presence through quality-driven operations and expanding production capabilities.
| Lead Manager | Grow House Wealth Management |
| IPO Registrar | Kfin Technologies |
RFBL Flexi Pack IPO Objectives
The company aims to deploy the funds from this issue towards the following objectives:
| Particulars | Amount (in ₹ lakh) |
| Capex Requirements | 1241.30 |
| Working Capital Needs | 1776.29 |
| General Corporate Uses | – |
Strengths of RFBL Flexi Pack
The following factors form the foundation of RFBL Flexi Pack’s business strength:
- Strategic Manufacturing Location: The firm’s production unit is located in Himatnagar, Gujarat. It benefits from efficient logistics and brings access to underserved markets.
- Strong Quality Standards: Strict quality checks across procurement and production processes are followed. The ISO 9001:2015 certification reinforces commitment to maintain consistency in operations and output.
- Diversified Product Portfolio: The company offers tailored solutions across industries, enabling flexibility in design, materials, and application requirements. This improves customer responsiveness and market adaptability.
- Customer-Centric Operations: A strong focus on service quality, reliability, and timely delivery has helped the company build repeat business relationships and maintain long-term customer retention.
Risks of RFBL Flexi Pack
A careful look at RFBL Flexi Pack’s risks is important before investing.
- Environmental and Regulatory Risks: Increasing environmental concerns around plastics and stricter packaging regulations may require additional investments in sustainable materials, compliance measures, and operational modifications.
- Raw Material Price Volatility: The business depends on petrochemical-based raw materials whose prices are linked to crude oil fluctuations. Sharp increases in input costs can directly impact the profit margins.
- Dependence on Suppliers: The raw materials are sourced from a limited count of suppliers. Disruptions with them or an increase in the prices could affect the production schedules.
- Shift Towards Alternatives: Growing adoption of eco-friendly and paper-based packaging alternatives could reduce demand for traditional plastic packaging products, potentially impacting long-term business growth.
RFBL Flexi Pack IPO Review
RFBL Flexi Pack’s IPO presents an opportunity to tap into the packaging industry through a company with steady revenue growth backed by customised offerings, strategic location advantages, and repeat customer relationships. However, dependence on plastic-based packaging, raw material volatility, and environmental concerns remain key risks. Investors should evaluate the company’s fundamentals, financial position, and growth outlook.
This IPO may suit investors with a higher risk appetite, looking at the SME space for manufacturing-focused opportunities.
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RFBL Flexi Pack IPO FAQs
RFBL Flexi Pack IPO is a book building issue worth around ₹35 crore. The issue consists of 70,65,000 shares, with the price band fixed at ₹47 to ₹50 per share.
Investors can apply through ASBA-enabled bank accounts or supported brokerage platforms offering UPI-based IPO applications.
The IPO offers exposure to the growing flexible packaging sector and is backed by revenue growth and healthy customer relationships. However, investors should also consider risks such as raw material price volatility, dependence on key customers, and environmental regulations before investing.
The RFBL Flexi Pack IPO’s GMP stands at ₹0, indicating muted market sentiment. Based on it, the stock is expected to list near its issue price, suggesting limited listing gains at this stage.
The RFBL Flexi Pack IPO will open for subscription on May 12, 2026, and close on May 14, 2026.
The IPO lot size is 3,000 shares. Retail investors must apply for a minimum of 2 lots, which amounts to 6,000 shares or ₹3,00,000 at the upper price band.
The allotment for the RFBL Flexi Pack IPO will be finalised on May 15, 2026.
RFBL Flexi Pack shares are scheduled to list on the NSE SME on May 19, 2026.
