Knack Packaging IPO

The Knack Packaging mainboard IPO runs from 1 Jul 2026 to 3 Jul 2026, offered at a price band of ₹161–170 per share, and is set to list on NSE and BSE. The company is looking to raise ₹439.71 crore through the offer. Retail investors bid in lots of 88 shares, a minimum application of ₹14,960.

Issue structure

The offer combines a fresh issue of ₹380.03 crore with an offer for sale (OFS) of ₹59.47 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward partial funding of capital expenditure towards setting up of new manufacturing facility at borisana situated at kadi, mehsana, gujarat. (₹320 crore), alongside issue expenses (₹33.37 crore). In all, 3 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Knack Packaging reported revenue of ₹843.77 crore and a net profit of ₹92.72 crore. Revenue grew from ₹518.47 crore in FY2023 to ₹843.77 crore in FY2026 (+63.0%). Net worth stood at ₹308.19 crore at the end of FY2026. At the upper band, that puts the issue at roughly 18.3× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 5.52× book value, against a return on net worth of 35.47% and a debt-to-equity ratio of 0.62. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Mold-tek Packaging Ltd and Tcpl Packaging Ltd, with a median peer P/E of about 28.2×.

Promoters

The promoters of the company are Alpesh Tulsibhai Patel, Pravinkumar Ambalal Patel and Rashminbhai Tulsibhai Patel. Promoter holding stands at 89.6% before the issue and comes down to 70.59% after listing.

Grey market premium (GMP)

In the unofficial grey market, Knack Packaging shares are quoted at a premium of ₹8.5 implying an expected listing around ₹178.5, about +5.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Knack Packaging IPO was subscribed 87.17 times overall. The strongest demand came from qualified institutional buyers (QIB) at 160.22 times, with non-institutional investors (NII) at 146.64× and retail investors at 21.09×.

Listing performance

Knack Packaging listed on 8 Jul 2026 at ₹186, a premium of +9.4% over the issue price of ₹170.

What to weigh

When evaluating the Knack Packaging IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Knack Packaging

Knack Packaging Limited , established in 2013, is a leading provider of integrated packaging solutions with a strong emphasis on product innovation, sustainability, and export-driven growth. The company specializes in manufacturing high-performance packaging products designed to meet the diverse requirements of industries worldwide. The company’s product portfolio includes Printed and Laminated Woven Polypropylene (PLWPP) bags , such as pinch-bottom bags, gusseted bags, block-bottom bags, and retail shopping bags. These packaging solutions are widely used across sectors including food processing, pet food, agriculture, fertilizers, construction materials, detergents, cement, chemicals, and minerals, among others. Knack Packaging’s products are designed to strengthen brand identity, enhance product protection, minimize counterfeiting risks, and improve supply chain efficiency. During Fiscal 2025, the company accounted for approximately 10.1% of the Indian flexible bulk PLWPP bag market, reflecting its strong industry presence. The company serves a broad customer base comprising prominent domestic and international organizations. Its Indian clientele includes leading companies such as Baba Agro Food Limited, Drools Pet Food Private Limited, Ebro India Private Limited, KRBL Limited, and DCM Shriram Limited. Globally, it caters to customers across 68 countries , including well-known brands such as Cargill, Cristo S.A., and Repi Soap and Detergent PLC. Export operations form a significant part of the business, with the United States, Mexico, and South Africa contributing nearly 58.44% of total export revenue. To ensure superior quality and customization, the company operates an in-house printing facility that provides end-to-end design support and cylinder development capabilities. As of July 31, 2025, Knack Packaging had developed more than 67,000 cylinders , managed over 12,000 SKUs , and operated a warehouse facility spanning approximately 92,065 square feet . This integrated infrastructure enables the company to efficiently serve a global customer base of more than 1,900 clients while maintaining consistent product quality and timely deliveries.