Dhaval Packaging IPO allotment to be finalised today. Here's GMP, how to check status online

Dhaval Packaging IPO allotment: The Dhaval Packaging IPO allotment is likely to be finalised on Tuesday, 4 August. The SME IPO received a stellar response from investors during the three-day subscription period.

Dhaval Packaging IPO is scheduled to make its debut on the BSE SME platform on August 6.

The SME IPO was subscribed over 50 times on the last day of bidding. The individual investors category received 40.36 times subscription, meanwhile, NII segment was booked 75.35 times.

Established in November 2015, Dhaval Packaging is engaged in the design, manufacture, and supply of plastic packaging solutions for the FMCG, food, and industrial sectors. The company specialises in producing In-Mold Labelling (IML) food containers and SAW Pipe Protection Plastic Caps (End Caps), serving both domestic and overseas markets.

Its product portfolio caters to a wide range of industries, including dairy, confectionery, bakery, frozen foods, pharmaceuticals, agro products, oil and gas, construction, infrastructure, and heavy engineering. Dhaval Packaging operates three manufacturing facilities in Sanand, Gujarat, equipped with 21 IML injection moulding machines and one vacuum-forming machine, with a combined production capacity of over 8,000 kg per day. The company also has an international presence, exporting its products to countries such as Malaysia, Mauritius, Canada, the UAE, Qatar, and Australia.

Dhaval Packaging IPO GMP today

The GMP of Dhaval Packaging IPO is +8 ahead of allotment, according to Investorgain. The estimated listing price of Dhaval Packaging IPO is ₹105, which is 8.25% higher than the IPO price of ₹97.

Dhaval Packaging IPO allotment status

Investors who placed their bids can check their allotment status online on BSE or registrar website -Kfin Technologies.

Here's how to check allotment status -

BSE

1. Visit the BSE India IPO allotment page.

2. Choose the issue type (Equity/Debt).

3. Select Dhaval Packaging IPO from the drop-down list.

4. Enter the required details, such as your PAN or application number.

5. Click on the 'Search' button.

5. Your IPO allotment status will be displayed on the screen.

Kfin Technologies

1. Go to the Kfin Technologies Ltd. website.

2. Choose 'Dhaval Packaging' from the IPO drop-down list.

3. Enter the required details, such as your PAN, Application Number, or Demat Account Number.

4. Click on the 'Search' button.

5. Your IPO allotment status will then be displayed on the screen.

Dhaval Packaging IPO details

Dhaval Packaging's IPO opened for subscription on Thursday, July 30, and closed on Monday, August 3. The company fixed the IPO price band at ₹92-97 per equity share, with a face value of ₹10 each.

Before the issue opened, the company raised ₹9.99 crore from five anchor investors on Wednesday by allotting 10.3 lakh equity shares at the upper price band of ₹97 apiece.

The IPO consisted entirely of a fresh issue of 37.48 lakh equity shares worth ₹36.36 crore, with no offer-for-sale (OFS) component. Consequently, the entire proceeds from the issue are intended to fund the company's growth and expansion initiatives.

Out of the net proceeds, Dhaval Packaging plans to allocate ₹27.19 crore towards capital expenditure for establishing a new manufacturing facility at Sanand in Ahmedabad. Around ₹3.75 crore will be used to repay certain borrowings, while the balance will be utilised for general corporate purposes.

Rarever Financial Advisors Pvt. Ltd. is acting as the book-running lead manager for the issue, while Kfin Technologies Ltd. is the registrar. New Berry Capitals Pvt. Ltd. has been appointed as the market maker.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.