RFBL Flexi Pack Summary
The Indian market for flexible packaging is set to grow rapidly, spurred by increased demand in the food processing, pharmaceutical, home care, and personal care sectors, coupled with the adoption of multi-layered barrier packaging and the push for domestic production by the Indian government's Make in India initiative. Such an opportunity will have a favorable impact on RFBL Flexi Pack since the company is positioned perfectly to meet the burgeoning B2B demand for customized printed multilayer flexible packaging products.
RFBL Flexi Pack Limited is a printed multilayer flexible packaging material manufacturer and trader based in Gujarat. The company sells mainly through the B2B segment. The company's product range includes plastic film rolls, laminated pouches, woven fabric packaging materials, and polyester laminated films to ensure that the packaging material provides durability, moisture resistance, and excellent barrier protection against various environmental factors in applications such as snacks, spices, grains, medicines, detergents, and household products. The company produces the goods through processing of raw materials such as BOPP, CPP, CPE, metallized films, adhesives, and special inks using sophisticated laminating and value-added processes at its plant in Himatnagar, Sabarkantha, Gujarat.
Financially, RFBL Flexi Pack has been showing consistent growth in recent times owing to the manufacturing and trading business model of the company. It plans to expand the manufacturing operations by using the funds raised from the IPO for the acquisition of land, establishment of new manufacturing facility, and purchase of plant and machinery in Survey No. 47/1, Himatnagar, Gujarat.
RFBL Flexi Pack Limited intends to launch NSE SME IPO of 70,70,000 equity shares with a face value of ₹10 per share, amounting to a total issue size of ₹35.33 Cr at a price range of ₹47-₹50 per share that includes the fresh issue of shares and 3,54,000 shares offered for the market maker from May 12, 2026, to May 14, 2026. The funds raised from the issue will be used for capital expenditure, which includes land acquisition and establishment of a new factory (₹12.41 Cr); working capital requirements (₹17.76 Cr); and other general corporate purposes.
RFBL Flexi Pack Limited IPO Details:
RFBL Flexi Pack Limited Issue Management:
Grow House Wealth Management Pvt Ltd acts as the book-running lead manager for RFBL Flexi Pack NSE SME IPO, managing underwriting and compliance.
RFBL Flexi Pack Limited IPO RTA (Registrar) Details:
Kfin Technologies Ltd. handles allotment, refunds, and demat credits - contact at 04067162222, 04079611000 or rfbl.ipo@kfintech.com.
RFBL Flexi Pack Limited IPO Allotment Status:
To check your IPO allotment status:
Visit the Kfin Technologies Ltd. IPO Application Status page.
Select the company name from the dropdown menu.
Select and enter PAN, Application Number, DP/Client ID, or Account Number/IFSC.
Click Submit to view your allotment status.
RFBL Flexi Pack Limited SME IPO totals ₹35.33 Cr, entirely a fresh issue of 70,70,000 equity shares (FV ₹10). No Offer for Sale; market maker reservation included in total.
RFBL Flexi Pack Limited IPO proceeds from the fresh issue of ₹35.33 crore will be deployed towards:
RFBL Flexi Pack Limited NSE SME IPO offers 70,70,000 shares (4,218,000 to public post Market Maker allocation).
The anchor bidding for RFBL Flexi Pack Limited SME IPO is scheduled for 11th May 2026, one working day before the issue opens on 12th May 2026, and anchor investors will be allotted shares from the QIB portion. As per the IPO reservation details, the QIB portion is 3,60,000 shares (5.10%) of the total issue size of 70,65,000 shares.
Lock-in: The anchor allocation follows standard SME IPO norms, where 50% of the anchor shares are locked in for 30 days and the remaining 50% for 90 days from the listing date. The issue is scheduled to list on 19th May 2026 on NSE SME (NSE Emerge).
The anchor allocation details and investor list will be disclosed in the anchor book before the IPO opening. Grow House Wealth Management Private Limited is the book running lead manager to the issue, and the registrar for the IPO is KFin Technologies Limited.
Based on the figures provided by the RHP, it can be noted that RFBL Flexi Pack Limited has seen robust growth in the past three financial years due to their business of manufacturing and trading flexible packaging material. RFBL serves industries like food & beverages, FMCG, pharmaceutical, agro products, cosmetic and consumer goods via laminated and corrugated packaging.
The revenues from operations of the company for FY2023, FY2024, and FY2025 amounted to ₹46.86 crore, ₹79.96 crore, and ₹135.46 crore, whereas the profit after tax (PAT) was ₹0.67 crore, ₹5.79 crore, and ₹8.33 crore. The PAT Margin of FY2025 came out to be 6.15%.
The robust growth of the company was made possible with the help of growing demand for flexible packaging, growth in FMCG and food packaging industry, increased demands of customers for customized packaging and good relations with clients and suppliers. The company intends to utilize the amount received from the IPO for capital expenditure and working capital requirements. But the investors should also pay attention to other risks such as concentration of clients and suppliers, high requirement of working capital, and negative operating cash flows of FY2025.
Action Links:
To apply for RFBL Flexi Pack Limited IPO, open a demat account here
RFBL Flexi Pack Limited IPO Subscription Status: Check live subscription here
RFBL Flexi Pack Limited IPO GMP Update: Check latest grey market premium here
RFBL Flexi Pack Key Highlights:
RFBL Flexi Pack Limited is a manufacturer of flexible packaging products that offers the production of laminated rolls, pouches, labels, shrink films, and other packaging products for use in FMCG, food and beverages, pharmaceutical, agriculture products, cosmetics, and consumer goods industries. The company is involved in the manufacturing of customized flexible packaging products, paying attention to quality printing and client-specific packaging needs.
According to the company's report, during the last three financial years, the business showed strong development dynamics, with revenues growing by 11.96% in FY23-24, and 70.76% in FY24-25. Similarly, the profit after tax also grew sharply by 838.14% in FY23-24, and 43.65% in FY24-25.
The company earns most of its revenues from repeat customers in the FMCG and food packaging industries. Growth of the demand for packaged foods and retail food consumption, along with growing interest in flexible packaging, will positively impact the company's future performance. Increased production capacity and working capital via IPO proceeds are also planned.
RFBL Flexi Pack Risk Factors:
The risks of RFBL Flexi Pack Limited IPO are mentioned below:
The firm operates in a fiercely competitive industry where there are price pressures from organized and regional competitors.
The revenues of the firm rely on a small number of clients; therefore, there is exposure to the problem of customer concentration.
High levels of working capital are required for handling inventory and accounts receivable.
Any changes in costs related to raw materials including plastics, films, adhesives, and aluminum foil would affect the firm’s profit margins.
Being an NSE SME-listed firm, it will experience lower liquidity than the mainboard firms post listing.
Negative operating cash flow in FY25 despite improved profits.
RFBL Flexi Pack Expert Analysis:
RFBL Flexi Pack Limited is launching an SME book-built IPO on NSE SME comprising a fresh issue of equity shares. The company aims to raise funds primarily for capital expenditure, working capital requirements, and general corporate purposes.
Basic details of the IPO:
Type of IPO: Book-built SME IPO (NSE SME)
Size of the issue: 70,65,000 equity shares comprising a fresh issue on the NSE SME platform. As per the reservation structure, QIB portion is 3,60,000 shares (including anchor allocation), NII portion is 19,93,500 shares, Retail portion is 46,51,500 shares, while the Market Maker portion is 3,60,000 shares.
Uses of funds: Capital expenditure requirements, funding incremental working capital needs, repayment/prepayment of certain borrowings, and general corporate purposes. The funds are also expected to support expansion of manufacturing capabilities and operational growth in the flexible packaging business.
Anchor bidding: May 11, 2026 | IPO opens: May 12, 2026 | IPO closes: May 14, 2026
Lead Manager: Grow House Wealth Management Private Limited | Registrar: KFin Technologies Limited
Expert View on the IPO:
In the last three years, RFBL Flexi Pack has achieved substantial revenue and profit performance, owing to increased demand for flexible packaging services in India. Food packaging, FMCGs, and retail offer long-term industry prospects for RFBL Flexi Pack. The company's existing customers and production capacities make it well-placed in the medium-sized packaging industry.
Nevertheless, the company faces some risks arising from the high level of dependence on one or few key customers, price fluctuations in commodity prices, and lack of sufficient liquidity in the SME market environment.
This IPO could be suitable for investors who wish to get involved in the booming Indian packaging/FMCG supply chain market via an SME company.
Should you invest in RFBL Flexi Pack?
Investors looking for opportunities in India’s growing flexible packaging industry may consider RFBL Flexi Pack Limited IPO. The issue may be suitable for investors comfortable with SME IPO risks and medium-risk business models.
Consider investing when:
Looking for exposure to India’s expanding FMCG, food packaging, and flexible packaging industry.
Comfortable with SME IPO liquidity risks and moderate business concentration risks.
Seeking companies with strong recent revenue and profit growth.
Do not invest when:
Prefer highly diversified and large-scale packaging businesses.
Uncomfortable with SME platform volatility and low liquidity.
Concerned about raw material volatility and working capital-intensive operations.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for RFBL Flexi Pack Limited IPO, open a demat account here
RFBL Flexi Pack Limited IPO Subscription Status: Check live subscription here
RFBL Flexi Pack Limited IPO GMP Update: Check latest grey market premium here
1. What is the RFBL Flexi Pack Limited IPO open and close date?
RFBL Flexi Pack Limited IPO opens on 12th May 2026 and closes on 14th May 2026. The anchor bidding is scheduled for 11th May 2026, one working day before the issue opens.
Track RFBL Flexi Pack Limited IPO subscription status live here from Finnpick.
2. What is the RFBL Flexi Pack Limited IPO price band and lot size?
The price band for RFBL Flexi Pack IPO is ₹47–₹50 per share with a face value of ₹10 per share. The lot size is 3000 shares, making the minimum retail investment approximately ₹3,00,000 at the upper price band.
3. What is RFBL Flexi Pack Limited IPO total size?
The total issue size of RFBL Flexi Pack Limited IPO comprises 70,65,000 equity shares through a fresh issue. There is no Offer for Sale (OFS) component, meaning the entire proceeds will go to the company for business expansion and operational requirements.
4. How to apply for the RFBL Flexi Pack Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or ASBA by May 14, 4 PM. Monitor RFBL Flexi Pack Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check RFBL Flexi Pack Limited IPO Allotment Status?
The allotment date is on May 15th and can be checked on Kfin Technologies RTA portal using PAN/DP ID.
6. What is RFBL Flexi Pack Limited IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹0 as of May 07, indicating listing at the price range of ₹50 - check daily updates of RFBL Flexi Pack Limited IPO GMP trends here and live subscription status here from May 12th opening only on Finnpick.
7. What does RFBL Flexi Pack Limited specialize in?
RFBL Flexi Pack Limited specializes in manufacturing and supplying flexible packaging products such as laminated rolls, pouches, labels, shrink films, and customized packaging materials for FMCG, food & beverages, pharmaceutical, agro, and consumer goods industries.
8. When is the RFBL Flexi Pack Limited IPO listing date?
The RFBL Flexi Pack Limited IPO is scheduled to list on NSE SME on May 19, 2026, which is approximately T+3 after the basis of allotment on May 15, 2026.
9. What are the RFBL Flexi Pack Limited IPO proceeds utilisation details?
The IPO proceeds will primarily be utilised towards capital expenditure, incremental working capital requirements, repayment/prepayment of borrowings, and general corporate purposes. The company also plans to strengthen manufacturing capacity and operational efficiency.
10. Who are the promoters of RFBL Flexi Pack Limited?
The promoters of the company are Kunjit Maheshbhai Patel and Roopyaa Tradebizz Limited.
11. Should I apply for the RFBL Flexi Pack IPO?
RFBL Flexi Pack IPO may be suitable for investors looking for exposure to India’s growing packaging and FMCG supply-chain sector through an SME-listed company. The company has reported strong revenue growth and improving profitability. However, investors should also consider SME liquidity risks, raw material price volatility, and working capital-intensive operations before investing.
