The Knack Packaging Limited IPO opens for subscription on July 1, 2026, and closes on July 3, 2026.
Operating as an integrated, export-oriented manufacturer, the company specializes in customized flexible packaging solutions like printed and laminated woven bags for the agriculture, pet food, and chemical sectors.
The firm plans to raise capital through a fresh issue of ₹380 crores, alongside an Offer for Sale of 3.5 million equity shares. Track all the IPOs of 2026 at our updated IPO section.
The price band is set at ₹161 to ₹170 per equity share, with a minimum lot size of 88 shares and an employee discount of ₹16.
This review covers essential data for the Knack Packaging IPO, including today's GMP, subscription status, price band, and the allotment timeline.
Briefs of Knack Packaging IPO Details
- Price Band: ₹161 – ₹170 per share (Employee Discount: ₹16.00)
- IPO Open / Close Dates: 1 July 2026 / 3 July 2026
- Lot Size: 88 shares
- Issue Size: Fresh Issue of ₹380 Crores + OFS of 3.5 million shares
- Fresh Issue / OFS: Fresh capital cum OFS
- Registrar: MUFG Intime India Pvt.Ltd.
- Listing Exchange: BSE, NSE
IPO Reservation
- Face value: ₹10 per share
- Anchor offer: Up to 60% of the QIB portion
- QIB-shares: Not more than 50% of the Net Offer
- NIIs-Shares offered: Not less than 15% of the Net Offer
- RIIs- Shares offered: Not less than 35% of the Net Offer
What is the Current Grey Market Premium (GMP) for the Knack Packaging IPO Today?
Daily updates regarding the GMP of this and other upcoming issues are available on our centralized GMP page.
As an unofficial indicator determined by daily market demand, the Grey Market Premium is not subject to regulation by SEBI, NSE, or BSE. Consequently, investors are advised against relying exclusively on GMP when making investment choices.
What is the Definitive Timeline and Basis of Allotment Schedule for the Knack Packaging IPO?
- IPO Open & Close Date: 1 July 2026 to 3 July 2026
- Basis of Allotment Date: 6 July 2026
- Refund Initiation Date: 7 July 2026
- Credit of Shares: 7 July 2026
- Listing Date: 8 July 2026
What Are The Objectives of Knack Packaging IPO ?
Management proposes to allocate the net proceeds of the fresh issue toward the following corporate purposes:
- Capital Expenditure: An allocation of ₹320.00 Crores is earmarked to set up a new manufacturing facility at Borisana in Kadi, Mehsana, Gujarat. This expansion aims to meet domestic and export market demands.
- General Corporate Purposes: The remaining balance, capped at 25% of the gross proceeds, will be used for general business operations.
- OFS Proceeds: Funds from the Offer for Sale will go directly to the selling shareholders, and the company will not receive any portion of these proceeds.
How is The Financial Performance of Knack Packaging ?
The section below outlines the company's financial statements, with all figures stated in rupees crores.
Period Ended | 31 Mar 26 | 31 Mar 2025 | 31 Mar 24 |
Total Income | 843.77 | 747.38 | 659.01 |
Profit After Tax | 92.72 | 73.81 | 45.98 |
EBITDA | 172.29 | 144.34 | 101.37 |
Total Borrowing | 192.47 | 172.06 | 173.09 |
Assets | 595.25 | 449.36 | 379.38 |
Source: RHP
Financial Observations
Total Income
The company registered a sequential scaling of its top-line revenue over the last three fiscal years.
- Revenue moved from ₹659.01 crores in FY24 to ₹843.77 crores in FY26.
- This shift was facilitated by higher production volumes.
- Export market deliveries also contributed to the reported revenue figures.
Profit After Tax
Net profit showed upward movement alongside the expansion in operational scale.
- PAT increased from ₹45.98 crores in FY24 to ₹92.72 crores in FY26.
- An altered product mix played a role in this bottom-line change.
- Lower raw material costs during the reporting period aided this outcome.
EBITDA
Operating earnings progressed as factory utilisation rates remained high.
- EBITDA stood at ₹101.37 crores in FY24 and shifted to ₹172.29 crores in FY26.
- The EBITDA margin was recorded at 20.42% for FY26.
- This metric points to the capital efficiency of the existing manufacturing units.
Total Borrowing
The business holds short-term debt to manage the working capital cycles typical in packaging.
- Total borrowing was ₹173.09 crores in FY24, moving to ₹192.47 crores in FY26.
- Out of the FY26 debt, ₹153.00 crores consists of short-term borrowings.
- No IPO proceeds are allocated to repay loans belonging to the promoters.
Assets
The company’s asset base expanded to support its manufacturing activities.
- Total assets grew from ₹379.38 crores in FY24 to ₹595.25 crores in FY26.
- The expansion is tied to regular equipment upgrades and inventory requirements.
- The proposed Borisana facility is expected to add to this asset base in the future.
What Are The P/E Ratio and Peer Comparison?
The Price-to-Earnings (P/E) ratio, calculated at the top of the price band, serves as the metric for understanding the valuation.
- Issue Price (Upper Band): ₹170
- EPS (FY26): ₹9.27
- P/E Ratio: ~18.34x
Peer Comparison Table (FY 2025-26 Data):
Company | Face Value (₹) | P/E Ratio | RoNW (%) | EPS (₹) |
Knack Packaging Ltd | 10 | 18.34 | 35.47 | 9.27 |
Time Technoplast Ltd | 1 | 17.86 | 13.37 | 9.99 |
TCPL Packaging Ltd | 10 | 28.19 | 14.34 | 107.47 |
Mold-tek Packaging Ltd | 5 | 31.83 | 10.98 | 21.93 |
Analysis:
Knack Packaging is entering the market at a P/E multiple of approximately 18.34x based on its FY26 EPS.
When compared to listed peers like Mold-tek Packaging (which trades at a P/E of 31.83x) and TCPL Packaging (28.19x), the issue reflects a lower multiple, while sitting closely aligned with Time Technoplast (17.86x).
Furthermore, Knack reports a Return on Net Worth (RoNW) of 35.47%, which is substantially higher than that of Mold-tek Packaging (10.98%) and TCPL Packaging (14.34%).
This metric points to the company's historical efficiency in generating profit from shareholder equity when assessed against its current listed peer group
What is The Industry Outlook of Knack Packaging?
Growth potential: The flexible packaging industry in India is driven by demand from agriculture, FMCG, and chemical sectors. Additionally, the push toward recycled and sustainable materials creates new avenues for manufacturers capable of adapting their production lines.
Market trends and competitors: The market features a mix of organised corporations and local unorganised entities. Export-oriented firms often face the dual task of meeting international quality standards while navigating global supply chain variables.
What Are The Strengths and Risks of Knack Packaging IPO ?
Strengths:
- Global Export Footprint: The firm derived 56.30% of its FY26 revenue from exports, serving 71 countries including the US, Mexico, and South Africa.
- Sustainable Offerings: The manufacturer incorporates up to 72% recycled plastics in its woven bags and provides pinch-bottom bags featuring laser-cut, easy-open designs.
- Customer Retention: The company recorded a customer retention ratio of 88.32% in FY26, catering to recognized brands across multiple industries.
Risks:
- Geographic Risk: All four existing manufacturing facilities are located in Gujarat. Concentrating operations in a single state exposes the firm to localised regulatory shifts or regional disruptions.
- Concentration Concerns: The top 10 customers contributed 40.87% of FY26 revenue, and the top 10 suppliers provided 86.21% of raw materials. The absence of long-term contracts presents supply chain risks.
- Forex Exposure: With a significant portion of its sales coming from exports (the US alone accounts for 23.66% of total revenue), fluctuating exchange rates can impact operational margins.
Key Considerations for Investors
- Capacity Expansion: A major portion of the fresh proceeds (₹320.00 crores) is allocated to establish a new manufacturing unit in Mehsana, Gujarat.
- Export & Forex Exposure: Exports contribute 56.30% of FY26 revenue (23.66% from the US), making the firm susceptible to foreign currency fluctuations.
- Working Capital Debt: The company carries ₹192.47 crores in total borrowings (FY26), including ₹153.00 crores in short-term debt to fund its working-capital-intensive operations.
- Concentration Risks: All four existing facilities are situated in Gujarat. Additionally, the top 10 suppliers account for 86.21% of raw materials without long-term contracts.
Key Takeaways
- IPO Price Band: ₹161 to ₹170 per equity share
- Lot Size: 88 shares (Minimum retail application of ₹14,960)
- Allotment & Listing Dates: Allotment on 6 July 2026; Listing on BSE and NSE on 8 July 2026
important IPO Resources:
2. IPO GMP vs Listing Accuracy Study 2026
3. IPO Listing Performance Tracker 2026 – Complete Dataset of IPO Listing Gains in India
4. January 2026 IPO Review – 18 Listings, 118.955X Average Subscription & Market Performance
5. IPO Glossary: 100+ Important Terms Every Investor Should Know
FAQs on Knack Packaging IPO
What does today's GMP for the Knack Packaging IPO stand at?
Since unofficial premium figures change every day, you can check our dedicated GMP hub page to access the latest GMP updates for this offering.
At what price range are the shares being offered in the Knack Packaging IPO?
The price band has been fixed at ₹161 to ₹170 per equity share, with a ₹16 discount for eligible employees.
When can investors expect the allotment results for the Knack Packaging IPO?
Investors can expect the official basis of allotment to be determined on July 6, 2026.
What are the necessary steps to find out the share allotment status for the Knack Packaging IPO?
Allotment status verification is accessible to investors through the official portal of the registrar, MUFG Intime India Pvt. Ltd., upon providing a PAN or application number. It can also be verified through the dedicated allotment platforms of the NSE and BSE.
When will the shares of the Knack Packaging IPO be listed on the stock exchanges?
Trading for these equity shares is scheduled to commence on both the BSE and NSE on July 8, 2026.
Investment Perspective on Knack Packaging IPO
Market participants should read the RHP closely to understand the company's export-heavy revenue structure, geographic concentration in Gujarat, and short-term debt levels. It is advisable to consult a SEBI-registered financial advisor before making any financial commitments.
Disclaimer:
This content is intended solely for educational use. Before committing to any investments, we recommend seeking guidance from a financial advisor registered with SEBI.
