Knack Packaging Summary
Knack Packaging Limited is a leading producer of printed and laminated woven polypropylene (PLWPP) bags and flexible packaging solutions based out of Ahmedabad, Gujarat. The company has around 10.1% of the market share in the flexible bulk PLWPP bags segment of India's domestic flexible market for fiscal year 2025. As on May 31, 2026, the company employs 1,959 people with an effective installed capacity of 43,300 MTPA. The company has both domestic as well as an international presence serving top Indian household brands such as Baba Agro Food Limited, Drools Pet Food, Laxmi Protein Products, and KRBL Limited besides exporting to 71 countries such as Cristo S.A. (Portugal), Cargill, and Repi Soap and Detergent PLC. Major strengths of the company are its integration manufacturing facility with in-house printing, expertise in PLWPP pinch-bottom bags, and efficiency due to its single integrated manufacturing facility.
Knack Packaging Mainboard IPO is a book-built issue of 2,58,52,941 equity shares (face value ₹10 each) aggregating up to ₹439.5 Cr at the upper price band, comprising a fresh issue of ₹380 Cr (2,23,52,941 shares) and an OFS of 35,00,000 shares (₹59.5 Cr) by the promoter group, priced at ₹161–₹170 per share, opening July 1, 2026 and closing July 3, 2026, with a tentative listing date of July 8, 2026 on both BSE and NSE.
Knack Packaging IPO Details:
Knack Packaging Limited Issue Management:
Systematix Corporate Services Limited, IDBI Capital Markets & Securities Limited, and Pantomath Capital Advisors Private Limited act as the book-running lead managers for Knack Packaging Mainboard IPO, managing underwriting and compliance.
Knack Packaging Limited IPO RTA (Registrar) Details:
MUFG Intime India Pvt.Ltd. handles allotment, refunds, and demat credits - contact at +91-22-4918 6270 or knackpackaging.ipo@in.mpms.mufg.com.
Knack Packaging Limited IPO Allotment Status:
To check your IPO allotment status:
Visit the MUFG Intime India Pvt.Ltd. IPO Application Status page.
Select the company name from the dropdown menu.
Select and enter PAN, Application Number, DP/Client ID, or Account Number/IFSC.
Click Submit to view your allotment status.
Knack Packaging Mainboard IPO comprises a total issue size of 2,58,52,941 shares, comprising a fresh issue and OFS. There is no market maker reservation (mainboard IPO).
Knack Packaging Limited IPO proceeds from the fresh issue will be deployed towards:
Knack Packaging Mainboard IPO is structured for QIB (50%), NII (15%), and Retail (35%) investors as per SEBI mainboard norms. Employee reservation with ₹16 discount to final offer price is also available. Minimum retail investment is ₹14,960 (1 lot at upper band).
The anchor bidding for Knack Packaging Limited Mainboard IPO is scheduled for June 30, 2026, one working day before the issue opens on July 1, 2026. Anchor investors will be allotted shares in accordance with SEBI mainboard IPO regulations — up to 60% of the QIB portion may be allocated to anchor investors.
Lock-in: 50% of anchor shares are locked in for 30 days and the remaining 50% for 90 days from the listing date of July 8, 2026 on BSE and NSE.
Systematix Corporate Services Ltd., IDBI Capital Markets & Securities Ltd., and Pantomath Capital Advisors Pvt. Ltd. are the BRLMs. MUFG Intime India Pvt. Ltd. is the registrar. Company promoters: Alpesh Tulsibhai Patel (Chairman & MD), Pravinkumar Ambalal Patel, Rashminbhai Tulsibhai Patel, and Tulsibhai Keshavlal. Pre-IPO promoter holding: 89.60%, expected to reduce to 70.59% post-IPO.
There was an increase in revenue from ₹747.38 crore in FY25 to ₹823.4 crore in FY26, registering an increase of 11.8%. Similarly, PAT witnessed an increase from ₹73.81 crore in FY25 to ₹92.7 crore in FY26, reflecting an increase of 25.6%. Key financial ratios for FY25 include ROE 41.70%, ROCE 50.36%, Debt/Equity 0.80x, PAT margin 9.88%, EBITDA margin 19.31%. FY26 key ratios: ROE 35.75%, ROCE 46.71%, P/E at upper price band: 18.30x. Total borrowings as of December 31, 2025: ₹242.57 Cr.
Action Links:
To apply for Knack Packaging Limited IPO, open a demat account here
Knack Packaging Limited IPO Subscription Status: Check live subscription here
Knack Packaging Limited IPO GMP Update: Check latest grey market premium here
Knack Packaging Key Highlights:
Knack Packaging Ltd is a company that manufactures PLWPP (Printed & Laminated Woven Polypropylene) Bags and Flexible Packing Solutions and is located in Ahmedabad. Market share (Domestic): 10.1% for flexible bulk PLWPP Bags in FY2025. Export markets in 71 countries. Integrated manufacturing facility with printing plant. Installed capacity: 43,300 MTPA with 1,959 employees. Major customers include Baba Agro Food, Drools Pet Food, KRBL Ltd. Valuation of the IPO: ₹2,080 Crores at Upper price band. GMP as on 24th June 2026: ₹12-₹13, suggesting listing price of ₹182 (7.06% above issue price). First main board IPO of July 2026.
Promoters: Alpesh Tulsibhai Patel, Pravinkumar Ambalal Patel, and Rashminbhai Tulsibhai Patel.
Knack Packaging Risk Factors:
The risks of Knack Packaging Limited IPO are mentioned below:
High Borrowings: Borrowings amounting to ₹242.57 crore as of December 31, 2025 may raise questions regarding debt servicing capacity, especially with a fresh capital raising of ₹380 crore intended for setting up a new plant.
Risk Associated with Capital Expenditure Implementation: The planned new manufacturing unit at Borisana, Gujarat, will consume ₹320 crore of fresh issue proceeds. There is an inherent risk that any delay in project execution, equipment purchase, or capacity enhancement may have an adverse effect on the expected return.
Export Dependence Risk: Majority of the sales are export-oriented and generated in 71 countries. This exposes the company to the vagaries of international market demand, protectionism, and currency risks.
Vulnerability to Raw Material Price Fluctuations: PP is the main raw material used in the production of various products by the company and its price is dependent on global crude oil and petrochemical cycle.
PAT Margin Declining Trend: There is a trend of falling margin of PAT from 17.56% in FY23 to 8.97% in FY25 before recovering to 16.65% in 9M FY26. The sustainability of the current trend relies on successful new plant execution.
Promoters' Share Dilution: Promoters shareholding falls from 89.60% to 70.59% post-IPO.
Fully Priced Valuation: At P/E ratio of 18.30x, the IPO seems to be fully valued due to its bumper profits in FY26 that are not likely to be sustainable in the long term.
Knack Packaging Expert Analysis:
Knack Packaging Mainboard book-built IPO is priced at ₹161–₹170 per share (face value ₹10), aggregating up to ₹439.5 Cr comprising a fresh issue of ₹380 Cr and OFS of ₹59.5 Cr. Listing on both BSE and NSE.
Basic details of the IPO:
Type of IPO: Book-built Mainboard IPO (BSE & NSE)
Uses of funds: New manufacturing facility at Borisana, Gujarat (₹320 Cr) and general corporate purposes (from fresh issue); OFS proceeds go to promoters
Anchor bidding: June 30, 2026 | Opens: July 1, 2026 | Closes: July 3, 2026 | Allotment: July 6, 2026 | Listing: July 8, 2026 (BSE & NSE)
Lead Managers: Systematix Corporate Services Ltd., IDBI Capital Markets & Securities Ltd., Pantomath Capital Advisors Pvt. Ltd. | Registrar: MUFG Intime India Pvt. Ltd.
Expert View on the IPO:
Knack Packaging is a profitable company with exports and is an established player in the PLWPP packaging manufacturing sector with a domestic market share of 10.1%, high ROE of 35.75% and ROCE of 46.71%, and a definite plan for expansion via the Borisana factory. GMP range of ₹12 – ₹13 signifies a positive market sentiment (+7% listing gain). Nevertheless, with a P/E of 18.30x on stellar FY26 results, the issue looks well-priced. The substantial debt levels (₹242.57 Cr) and magnitude of capital expenditure (₹320 Cr for a new factory) introduce execution risks. Long to medium-term investors with exposure to industrial packaging in India would benefit.
Should you invest in Knack Packaging?
Investor suitable if the investor has medium to long investment period and is looking for exposure to a profitable PLWPP packaging company with strong domestic market presence and strong exports across the world. Short-term/investors who are looking for listing gain should keep an eye on GMP and subscription status owing to the fully priced valuations.
Consider investing when:
Looking for exposure to the Indian flexible packaging industry with domestic market leader (market share 10.1%), international exports to 71 countries and growth driven by expansion plans.
Comfortable with dynamics of main board listing, high borrowings and risks of execution of new plant worth ₹320 Crore in Borisana, Gujarat.
Do not invest when:
Risk adverse to high borrowings (₹242.57 Crore), fully priced valuations (P/E 18.30x on FY26 profits), OFS (promoter exit) and capex execution risk for the new plant.
Expecting undervaluation or listing gains - the GMP range of ₹12 – ₹13 indicates a modest upside only.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Knack Packaging Limited IPO, open a demat account here
Knack Packaging Limited IPO Subscription Status: Check live subscription here
Knack Packaging Limited IPO GMP Update: Check latest grey market premium here
1. What is the Knack Packaging Limited IPO open and close date?
Knack Packaging Mainboard IPO opens on July 1, 2026 and closes on July 3, 2026. Allotment is on July 6, refunds and demat credit on July 7, and listing on BSE and NSE is July 8, 2026.
Track Knack Packaging Limited IPO subscription status live here from Finnpick.
2. What is the Knack Packaging Limited IPO price band and lot size?
The IPO price band is ₹161–₹170 per share (face value ₹10). Lot size is 88 shares. Minimum retail investment is ₹14,960 (1 lot at ₹170). Maximum retail application is 13 lots (1,144 shares) at ₹1,94,480.
3. What is Knack Packaging Limited IPO total size?
Knack Packaging IPO is a Mainboard IPO of 2,58,52,941 equity shares aggregating up to ₹439.5 Cr, comprising a fresh issue of ₹380 Cr (2,23,52,941 shares) and OFS of ₹59.5 Cr (35,00,000 shares) by the promoter group. Listing on both BSE and NSE.
4. How to apply for the Knack Packaging Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or apply ASBA by July 3, 4 PM. Monitor Knack Packaging Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check Knack Packaging Limited IPO Allotment Status?
The allotment date is on July 6, 2026. Check allotment on MUFG Intime India Pvt. Ltd. portal or on BSE/NSE IPO allotment pages using PAN, Application Number, or DP/Client ID.
6. What is Knack Packaging Limited IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹13 as of June 28, indicating listing at the price range of ₹183 - check daily updates of Knack Packaging Limited IPO GMP trends here and live subscription status here from July 1st opening only on Finnpick.
7. What does Knack Packaging Limited specialize in?
Knack Packaging Limited is an Ahmedabad-based manufacturer of printed and laminated woven polypropylene (PLWPP) bags and flexible packaging solutions. The company commands a 10.1% domestic market share in flexible bulk PLWPP bags and exports to 71 countries, serving food, agriculture, pet food, and industrial goods sectors.
8. When is the Knack Packaging Limited IPO listing date?
The IPO is scheduled to list on both BSE and NSE on July 8, 2026. Allotment on July 6, refunds and demat credits on July 7, 2026.
9. What are the Knack Packaging Limited IPO proceeds utilization details?
Fresh issue proceeds of ₹380 Cr will be primarily utilised for partial funding of a new manufacturing facility at Borisana, Kadi, Mehsana, Gujarat (₹320 Cr) and general corporate purposes. OFS proceeds of ₹59.5 Cr will go to selling promoter shareholders.
10. Who are the promoters of Knack Packaging Limited?
The promoters are Alpesh Tulsibhai Patel (Chairman & MD), Pravinkumar Ambalal Patel, Rashminbhai Tulsibhai Patel, and Tulsibhai Keshavlal. Pre-IPO promoter holding: 89.60%, reducing to 70.59% post-IPO.
11. Should I apply for the Knack Packaging IPO?
You may consider applying if you are comfortable with a profitable mainboard PLWPP packaging manufacturer with 10.1% domestic market share, global export presence (71 countries), and a clear capacity expansion plan. Note the fully priced valuation (P/E 18.30x), high borrowings (₹242.57 Cr), OFS component, and capex-execution risk. Minimum retail investment of ₹14,960 makes this accessible. Read the RHP and consult a SEBI-registered advisor before investing.
