Dhaval Packaging IPO Day 1: Issue booked 26% so far. Check GMP, issue details

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The Dhaval Packaging initial public offering (IPO) began on Thursday, 30 July, and will end on Monday, 3 August. The Dhaval Packaging IPO price band is in the range of ₹92-97 per equity share, with a face value of ₹10 per share.
Ahead of the IPO opening, Dhaval Packaging raised ₹9.99 crore from five anchor investors on Wednesday by allotting 10.3 lakh equity shares at the upper end of the price band.
Carnelian Asset Management and Advisors' Carnelian AIF Category I Trust – Scheme 1 emerged as the largest anchor investor, subscribing to 5.16 lakh shares worth ₹5 crore. Saint Capital Fund acquired 2.05 lakh shares valued at ₹1.99 crore, while VVD Equity Fund, Jalan Chemical Industries, and Blue Aster Capital Fund each subscribed to 1.03 lakh shares worth ₹1 crore, according to reports.
Incorporated in 2015, Dhaval Packaging manufactures plastic packaging solutions for domestic and international markets, serving customers across the food and FMCG sectors. Its product portfolio caters to segments such as sweets, dairy products, dry fruits, bakery items, and other packaged food categories.
The company operates three manufacturing facilities in Sanand, Gujarat, while its corporate headquarters are located in Ahmedabad.
On the financial front, Dhaval Packaging delivered healthy growth in FY26, with profit rising 33% year-on-year to ₹8.04 crore, while revenue from operations increased 24.4% to ₹65.03 crore for the year ended March 2026.
Dhaval Packaging IPO GMP today is +8. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Dhaval Packaging share was ₹105 apiece, which is 8.25% higher than the IPO price of ₹97.
Observing grey market movements over the past seven sessions, the IPO's GMP shows an upward trend today, suggesting a positive outlook for the listing. Throughout this timeframe, experts noted that the GMP fluctuated between a low of ₹0.00 and a high of ₹12.
Dhaval Packaging IPO subscription status was 26% on day 1, so far. The retail portion is subscribed 25%, and NII portion has been booked 70%. The employee portion has been booked 2%. QIBs are yet to be booked.
The company has received bids for 6,62,400 shares against 25,29,600 shares on offer at 12:49 IST, according to chittorgarh.com
The Dhaval Packaging IPO comprises a fresh issue of 37.48 lakh equity shares aggregating to ₹36.36 crore, with no offer-for-sale (OFS) component. As a result, the entire proceeds from the issue will be used to support the company's expansion plans.
The company proposes to utilise ₹27.19 crore from the net proceeds towards capital expenditure for setting up a new manufacturing facility at Sanand, Ahmedabad. It will also use ₹3.75 crore for the repayment of certain borrowings, while the remaining funds will be earmarked for general corporate purposes.
Rarever Financial Advisors is the merchant banker to the issue.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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