Knack Packaging IPO – Company Analysis
Knack Packaging IPO is a Mainboard Book-Build Issue worth ₹439.50 crore, launched by Knack Packaging Limited, a leading manufacturer of sustainable packaging solutions. The company specializes in innovative, high-quality packaging products that cater to both domestic and international markets.
Knack Packaging Limited manufactures a wide range of Printed and Laminated Woven Polypropylene (PLWPP) bags, including pinch bottom bags, gusset bags, block bottom bags, and retail shopping bags. These durable and high-strength packaging solutions are widely used across industries such as food, pet food, agriculture, fertilizers, cement, building materials, detergents, chemicals, minerals, and several other industrial sectors.
The company's products are designed to enhance brand visibility, improve operational efficiency, and reduce the risk of counterfeiting. With a strong focus on sustainability, exports, and continuous product innovation, Knack Packaging has established a significant presence in the packaging industry. As of FY2025, the company held approximately 10.1% market share in India's flexible bulk PLWPP bag segment, highlighting its leadership position in the sector.
Knack Packaging IPO Details
The Knack Packaging IPO will open for subscription on 1 July 2026 and close on 3 July 2026. The basis of allotment is expected to be finalized on 6 July 2026, while refunds and credit of shares to successful applicants are scheduled for 7 July 2026.
The IPO has a total issue size of ₹439.50 crore, comprising:
Fresh Issue: 2.24 crore equity shares aggregating ₹380 crore
Offer for Sale (OFS): 0.35 crore equity shares aggregating ₹59.50 crore
The shares are proposed to be listed on both the BSE and NSE, with the tentative listing date set for 8 July 2026.
The Knack Packaging IPO price band has been fixed at ₹161 to ₹170 per equity share.
IPO Timetable (Tentative)
Events | Date |
IPO Opening Date | Jul 01, 2026 |
IPO Closing Date | Jul 03, 2026 |
IPO Allotment Date | Jul 06, 2026 |
Refund Initiation | Jul 07, 2026 |
IPO Listing Date | Jul 08, 2026 |
Industry Overview
Company Financials
(Amount in Cr)
Particulars | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Assets | 449.36 | 379.38 | 269.33 |
Total Income | 747.38 | 659.01 | 518.47 |
Profit After Tax | 73.81 | 45.98 | 19.87 |
EBITDA | 144.34 | 101.37 | 54.84 |
NET Worth | 214.71 | 140.62 | 95.34 |
Reserves | 209.71 | 135.62 | 90.34 |
Borrowings | 172.06 | 173.09 | 122.66 |
Cash Flows
(Amount in Mn)
Net Cash Flow | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
Net Cash Flow Operating Activities | 919.78 | 940.54 | 324.47 |
Net Cash Flow Investing Activities | (1,001.08) | (665.05) | (685.52) |
Net Cash Flow Financing Activities | 28.99 | (191.55) | 344.22 |
Revenue Bifurcation
(Source: RHP)
The Objective of the Issue
Partial funding of capital expenditure towards setting up a new manufacturing facility at Borisana, situated at Kadi, Mehsana, Gujarat. ~ Rs. 320 Cr.
General corporate purposes.
Listed Peers of Knack Packaging Ltd.
Name of Company | Face Value (₹) | Basic EPS (₹) | PE Ratio (x) |
Time Technoplast Limited | 1 | 9.99 | 17.86 |
TCPL Packaging Limited | 10 | 107.47 | 28.19 |
Mold-tek Packaging Limited | 5 | 21.93 | 31.83 |
Valuation
KPI | Value |
ROE | 35.75% |
ROCE | 46.71% |
Debt/Equity | 0.62 |
RoNW | 35.47% |
PAT Margin | 10.99% |
EBITDA Margin | 20.42% |
Knack Packaging IPO Valuation (P/E Ratio)
Based on the company's FY2026 earnings, Knack Packaging Limited reported an Earnings Per Share (EPS) of ₹9.27. At the upper price band of ₹170 per share, the IPO is valued at a Price-to-Earnings (P/E) ratio of 18.33x.
The valuation appears reasonable when compared with peers in the packaging industry, considering the company's market position, consistent financial performance, and focus on sustainable packaging solutions. However, investors should also compare the valuation with listed competitors before making an investment decision.
Knack Packaging IPO Strengths
Some of the key strengths of Knack Packaging Limited include:
Digitally integrated manufacturing processes that enhance operational efficiency.
Strong capability to manufacture complex and customized packaging products with precision.
Customer-centric approach with tailor-made packaging solutions across multiple industries.
Well-diversified product portfolio serving domestic and export markets.
Strong presence in the Indian flexible bulk PLWPP bag market with a focus on innovation and sustainability.
Knack Packaging IPO Risks (Weaknesses)
Despite its strengths, investors should consider the following risks:
Growing environmental concerns regarding plastic-based packaging products.
Limited recyclability of certain packaging materials and infrastructure challenges.
High dependence on polypropylene and other raw materials, making profitability sensitive to fluctuations in raw material prices.
Intense competition within the packaging industry.
Knack Packaging IPO GMP Today
As of 27 June 2026, the Knack Packaging IPO GMP (Grey Market Premium) stands at ₹11.50.
Based on the upper price band of ₹170, the estimated listing price is around ₹181.50 per share, indicating an expected listing gain of approximately 6.8%, subject to changes in grey market sentiment. Investors should note that GMP is unofficial and should not be considered the sole basis for an investment decision.
Knack Packaging IPO Summary
IPO Opening & Closing Date | 01 Jul, 2026 to 03 Jul, 2026 |
Face Value | Rs. 10 per Share |
Issue Price | Rs. 161 to Rs. 170 per Share. |
Lot Size | 88 Shares |
Issue Size | 2,58,52,941 Shares (Rs. 439 Cr) |
Offer for Sale | 35,00,000 Shares (Rs. 60 Cr) |
Fresh Issue | 2,23,52,941 Shares (Rs. 380 Cr) |
Listing at | BSE, NSE |
Issue Type | Bookbuild issue IPO |
Registrar | MUFG Intime India Pvt. Ltd. |
IPO Lot Details
Minimum Lot Investment (Retail) | 1 Lot |
Maximum Lot Investment (Retail) | 13 Lots |
HNI (Min) | 14 Lots |
Knack Packaging IPO Allotment Status
Investors can check the Knack Packaging IPO Allotment Status once the allotment process is completed. The allotment is expected to be finalized on 6 July 2026.
You can verify your IPO allotment status through the following official platforms:.
BSE IPO Allotment Portal – Select Knack Packaging IPO from the list and enter the required details to view your allotment status.
The official link to the BSE IPO Allotment page are provided below for your convenience.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Knack Packaging Ltd.
Alpesh Tulsibhai Patel
Pravinkumar Ambalal Patel
Rashminbhai Tulsibhai Patel.
Pre-Issue Promoter Shareholding | 89.6% |
Post-Issue Promoter Shareholding | 70.59% |
IPO Lead Managers
Systematix Corporate Services Ltd.
Knack Packaging IPO Dividend Policy
Knack Packaging Limited has not declared or paid any dividend during the last three financial years. The company has primarily retained its earnings to support business expansion, increase production capacity, strengthen operations, and fund future growth initiatives.
Conclusion
The Knack Packaging IPO offers investors an opportunity to participate in a company operating in India's growing packaging industry with a strong emphasis on sustainability, innovation, and customized packaging solutions. Backed by a diversified product portfolio, expanding export presence, and healthy financial performance, the company is well-positioned to benefit from increasing demand across multiple industries.
With an IPO price band of ₹161–₹170 per share, investors should carefully evaluate the company's fundamentals, valuation, industry outlook, and associated risks before making an investment decision. Reviewing the Grey Market Premium (GMP), financial statements, and peer comparison can also help investors make an informed decision.
To know more about the company's business, financials, risk factors, and objectives of the issue, download and read the Draft Red Herring Prospectus (DRHP) before investing.
Disclaimer
Stockart and logo are the registered trademark of KSN Credence Commodities Trading Pvt. Ltd.
The information provided in this article is for educational and informational purposes only and should not be considered as investment advice, financial advice, or a recommendation to buy, sell, or subscribe to any securities or IPO. IPO Grey Market Premium (GMP) is unofficial and may change at any time. Investors are advised to read the company's DRHP/RHP carefully and consult a SEBI-registered financial advisor before making any investment decisions. Investing in the securities market is subject to market risks. Please read all related documents carefully before investing.
For more information, contact: support@stockart.co.in
