Upcoming IPO: Bharat PET receives SEBI approval to raise ₹760 crore through public issue

Bharat PET Limited, an integrated packaging solutions provider, has received approval from SEBI for its proposed initial public offering (IPO). The company is looking to raise ₹760 crore through a mix of a fresh issue and an offer for sale (OFS).

The fresh issue comprises equity shares aggregating up to ₹120 crore, while the OFS aggregates up to ₹640 crore. The selling shareholders in the OFS include promoter selling shareholders Deepak Gupta, Ankur Gupta, Rahul Gupta, Sonu Gupta, Stuti Gupta, Ruchi Gupta, Mitali Gupta and Santosh Devi Gupta.

In consultation with the book-running lead managers, the company may also consider a pre-IPO placement of specified securities aggregating up to ₹24 crore, as permitted under applicable law, Bharat PET said in its exchange filing.

The company proposes to use the net proceeds from the fresh issue towards the repayment or prepayment of borrowings, in full or in part, amounting to ₹50 crore; funding capital expenditure towards the purchase of machinery and equipment amounting to ₹35.8 crore; and general corporate purposes.

Equirus Capital Private Limited and Ambit Private Limited are the book-running lead managers to the issue.

About Bharat PET

Incorporated in 1998, the company is engaged in the manufacturing of a diversified SKU portfolio of rigid packaging products across multiple container formats and sizes, including PET bottles and jars, preforms, multi-layer co-extruded bottles, caps and closures, and tin containers.

It offers a diverse portfolio of packaging solutions, including PET bottles and jars, multi-layer co-extruded bottles, tin containers and PET preforms, across a wide range of sizes and configurations to cater to varied customer requirements.

The company serves a diversified customer base of over 1,500 customers across industries, with its marquee clients including Tata Consumer Products Limited, Dhanuka Agritech Limited, PI Industries Limited, India Pesticides Limited and Safex Chemicals India Limited.

As per the DRHP, the company competes with listed peers such as Mold-Tek Packaging, Shaily Engineering Plastics and Time Technoplast.

In terms of financial performance, the company posted revenue of ₹411.82 crore in fiscal 2025 and ₹274.90 crore for the six months ended September 30, 2025.

Profitability remained strong, with pro forma EBITDA of ₹87.93 crore in Fiscal 2025 and ₹71.37 crore in the six-month period, translating into EBITDA margins of 21.35% and 25.96%, respectively. Pro forma profit after tax stood at ₹50.99 crore in fiscal 2025 and ₹48.12 crore in the latest six-month period, with PAT margins improving to 16.90%.

Operationally, the company operates four manufacturing facilities with a pro forma installed capacity of 33,401 MTPA and recorded a total sales volume of 19,891 MTPA in Fiscal 2025, underscoring its scale and ability to cater to growing demand across end-use industries.

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