RFBL Flexi Pack launches IPO to fund debt reduction
The company has fixed the price band at Rs 47 to Rs 50 per equity share
11 May 2026 | By Divya Subramaniam
RFBL Flexi Pack, a Gujarat-based manufacturer of printed multilayer flexible packaging materials, has announced its initial public offering (IPO), with the issue opening for subscription on 12 May 2026 and closing on 14 May 2026. The company has fixed the price band at Rs 47 to Rs 50 per equity share.
The IPO comprises a fresh issue of up to 70.65 lakh equity shares of face value Rs 10 each. At the upper end of the price band, the company aims to raise approximately Rs 35.3 crore. The shares are proposed to be listed on the National Stock Exchange of India SME platform.
According to the company, around Rs 35 crore from the issue proceeds will be used for repayment or prepayment of existing borrowings, with the remaining funds allocated toward general corporate purposes and issue expenses. Grow House Wealth Management is managing the issue, while KFin Technologies is the registrar.
Founded in 2005, RFBL Flexi Pack manufactures and trades printed multilayer flexible packaging materials, including plastic film rolls and pouches used across food and beverage, pharmaceuticals, agriculture, home care and fast-moving consumer goods sectors. The company operates on a business-to-business model, providing customised packaging designed to enhance durability, moisture resistance and barrier performance.
The company’s manufacturing facility and registered office are located in Himatnagar, Sabarkantha district, Gujarat. Positioned close to the Gujarat-Rajasthan border, the facility enables efficient access to markets across western and northern India. RFBL also trades in woven fabric packaging materials, polyester laminated films and specialty films, broadening its product offering. The facility operates under ISO 9001:2015 quality standards.
RFBL Flexi Pack has posted robust financial growth in recent years. Revenue from operations rose to Rs 135.46 crore in FY25, compared with Rs 79.96 crore in FY24. Profit after tax increased to Rs 8.33 crore from Rs 5.79 crore over the same period, reflecting stronger capacity utilisation, operational efficiency and increased market penetration.
The company serves customers in sectors where packaging plays a critical role in product protection, shelf appeal and supply chain efficiency. With rising demand for high-performance and more sustainable packaging formats, RFBL said it intends to continue focusing on customised solutions that combine functionality with evolving sustainability requirements.
The IPO marks an important milestone for the company as it seeks to deleverage its balance sheet and position itself for the next phase of growth in India’s expanding flexible packaging market.