Knack Packaging IPO
Knack Packaging LtdMainboard
This IPO has listed.
- Open date
- 1 Jul 2026
- Close date
- 3 Jul 2026
- Min. Investment
- ₹14,960
- Lot Size
- -
- Fresh Issue
- ₹380.00 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers154.34x
- Non-Institutional Investors139.81x
- Retail-Individual Investors20.07x
- Total83.33x
Schedule
- Completed: IPO open date1 Jul 2026
- Completed: IPO close date3 Jul 2026
- Completed: Allotment date6 Jul 2026
- Completed: Funds unblock or debit7 Jul 2026
- Completed: Tentative listing date8 Jul 2026
About
Promoter shareholding in Knack Packaging Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Alpesh Tulsibhai Patel | 2,10,30,000 | 21.03% | 2,03,54,250 | 16.63% |
| Pravinkumar Ambalal Patel | 1,12,00,000 | 11.20% | 1,09,00,000 | 8.91% |
| Rashminbhai Tulsibhai Patel | 2,26,90,000 | 22.70% | 2,20,14,250 | 17.99% |
| Tulsibhai Keshavlal Patel | 68,00,000 | 6.80% | 64,38,000 | 5.26% |
| Patel Kamlesh Ambalal | 63,00,000 | 6.30% | 59,92,500 | 4.90% |
| Dharmisthaben Pravinbhai Patel | 10,00,000 | 1.00% | 8,75,000 | 0.72% |
| Divyaben Rashminkumar Patel | 39,60,000 | 3.96% | 36,61,750 | 2.99% |
| Savitaben Tulsibhai Patel | 19,80,000 | 1.98% | 19,80,000 | 1.62% |
| Shital Alpesh Patel | 39,60,000 | 3.96% | 36,61,750 | 2.99% |
| Ambalal Keshvalal Patel (HUF) | 2,00,000 | 0.20% | 2,00,000 | 0.16% |
| Pravinbhai Ambalal Patel (HUF) | 2,00,000 | 0.20% | 2,00,000 | 0.16% |
| Patel Jay Pravinkumar | 39,96,000 | 4.00% | 38,26,000 | 3.13% |
| Kamleshbhai Ambalal Patel (HUF | 2,00,000 | 0.20% | 2,00,000 | 0.16% |
| Tulsibhai Keshavlal Patel (HUF | 2,00,000 | 0.20% | 2,00,000 | 0.16% |
| Alpeshbhai Tulsibhai Patel (HU | 2,00,000 | 0.20% | 2,00,000 | 0.16% |
| Rashminbhai Tulsibhai Patel (H | 2,00,000 | 0.20% | 2,00,000 | 0.16% |
| Patel Dhyey | 16,60,000 | 1.66% | 16,60,000 | 1.36% |
| Tithi Alpesh Patel | 16,60,000 | 1.66% | 16,60,000 | 1.36% |
| Ishita Dhavalkumar Patel | 5,00,000 | 0.50% | 5,00,000 | 0.41% |
| Patel Katha | 16,60,000 | 1.66% | 16,60,000 | 1.36% |
Financials of Knack Packaging IPO
| Key Performance Indicators | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Operating Revenue | - | - | - |
| Other Income | - | - | - |
| Total Income | 515.11 | 654.56 | 736.49 |
| Total Expenses | 484.90 | 597.26 | 648.15 |
| Profit Before Tax | - | - | - |
| Total Profit | 22.18 | 45.98 | 73.81 |
Knack Packaging IPO Strengths & Risks
- Focus on operational efficiency through integrated and digitised processes.
- Capability to deliver complex product design with accuracy.
- Customer-centric custom packaging solutions.
- Presence across Indian and global market catering to various industries.
- Experienced and skilled management and Board of Directors.
- Risks Relating to the Business: The company is significantly dependent on its key suppliers for sourcing raw materials and the company does not has any contractual arrangements with them. Accordingly, the company inability to maintain relationship with key suppliers may adversely impact its business, operations and financial results.
- Risks Relating to the Business: A significant portion of the company revenue from operations is derived from its existing customers. Additionally, the company derives a substantial portion of its revenue from operations from few customers, and the company does not has any contractual arrangements with them. Its failures to retain these customers may adversely impact the company business, operations, and financial performance.
- Risks Relating to the Business: The company manufacturing facilities is concentrated in a single region domestically i.e., Gujarat, which are critical to the company business operations. Any shutdown of its manufacturing facilities dues to adverse conditions in the state of Gujarat or other reasons may adversely affect the company business, financial condition, results of operations, cash flows and future business prospects.
- Risks Relating to the Business: A significant percentage of the company revenue (amounting to 23.66% of its revenue from operations during Fiscal 2026) is derived from the company customers in the United States. Any adverse situation in the United States, including any breakdown in India-US bilateral relations may adversely affect its business, results of operations, and financial condition.
- Risks Relating to the Business: The estimated cost of the company Project has been reduced from Rs. 5,148.94 million to Rs. 3,649.56 million and the schedule for implementation of the Project has been extended from December 2026 to October 2027. Any further changes in the cost, delays cost overruns may adversely affect the expected benefits from the Project and its financial condition.
- Risks Relating to the Business: The company requires a number of approvals, NOCs, licences, registrations and permits in the ordinary course for its existing business and any failures to obtain the same will adversely affect the company operations, business and profitability.
- Risks Relating to the Business: The company Statutory Auditors has made certain Emphasis of Matters in its Restated Consolidated Financial Information. Any failures to timely address these concerns may adversely affect the company business, financial condition, and reputation.
- Risks Relating to the Business: The company Registered and Corporate Office and manufacturing facilities are located on leased premises obtained from its Promoters. If the company is unable to renew these leases or relocate on commercially suitable terms, it may has a material adverse effect on its business, results of operation and financial condition.
- Risks Relating to the Business: The Company extends credit facilities to customers, which may expose its to counterparty risks, adversely impact the company cash flows and increase its working capital requirements.
- Risks Relating to the Business: The company lenders has charge over its movable and immovable properties in respect of the finance availed by the company, and its inability to meet the company obligations under these debt financing arrangements could adversely affect its business, results of operations, and cash flows.
- Risks Relating to the Business: The company may not be able to successfully integrate or manage its joint venture and subsidiary, and any challenges in aligning operations, systems, or management practices may adversely affect the company ability to realise the anticipated benefits, synergies, or efficiencies from such arrangement.
- Risks Relating to the Business: The company has instances of delays in payments of statutory dues by its Company. Any delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may has an adverse impact on its financial condition and cash flows.
- Risks Relating to the Business: The company is subject to diverse regulatory requirements in the jurisdiction where its Subsidiary operates, and non-compliance with such laws or foreign exchange regulations could adversely impact the company manufacturing operations, business, financial condition, and results of operations.
- Risks Relating to the Business: There are factual inaccuracies in certain of the company corporate records and corporate filings. Its cannot assure you that regulatory proceedings or actions will not be initiated against the company in the future which may impact its financial condition and reputation and the company will not be subject to any penalty imposed by the competent regulatory authority in this regard.
- Risks Relating to the Business: The company Director and members of the Senior Management Personnel are unable to trace their educational degrees, certificates and experience documents. Accordingly, its has relied on marksheets and alternate documents furnished by them for such details of their profile.
- Risks Relating to the Business: A downgrade in the company credit ratings could materially adversely affect its business and financial condition and the company ability to raise capital in the future.
- Risks Relating to the Business: The development or adoption of alternative packaging materials, changes in consumer preferences, or advances in packaging technology may adversely affect the demand for the company products and impact its business operations.
- Risks Relating to the Business: The company faces significant competition from domestic and international packaging businesses (including players from both organized and unorganized sector) which may lead to a reduction in its market share, which in turn may adversely affect the company business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company may be unable to detect, deter and prevent all instances of fraud or negligence or other misconduct committed by its employees, distributors, consumers or other third parties, which may has a material adverse effect on the company business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company business is significantly dependent on its printing cylinders, of which 43.08% of the total cylinders are owned by the Company. Any loss, damage, or misuse of these assets, or disruption in related services, may materially and adversely impact its operations, customer relationships, and financial performance.
- Risks Relating to the Business: The company significant exposure to foreign currency exchange rate fluctuations may adversely affect its results of operations, cash flows, and financial condition.
- Risks Relating to the Business: In order to price the company products competitively, its depends on sourcing raw material and packing materials in a cost-efficient manner. Non-availability of long-term agreements with the company suppliers, among other reasons, may lead to inadequate or interrupted supply and price fluctuation of its raw materials and packaging materials, consequently and adversely affecting the company business, results of operations, cash flows, profitability, and financial condition.
- Risks Relating to the Business: The company may be unable to protect its intellectual property or knowhow from third party infringement which could harm the company brand and services.
- Risks Relating to the Business: The funds raised through this Offer are intended to be deployed for the implementation of Objects, which is critical to the company growth strategy. However, there is a risk that the implementation of this project may be delayed dues to various factors, or there may be any cost overruns, which may, in turn, impact its financial performance and growth prospects.
- Risks Relating to the Business: The company is yet to place orders for 100% of the plant and machinery, including electrical installations amounting to Rs. 2,848.55 million. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the above in a timely manner, or at all, it may result in time and cost over-runs and its business, results of operations, financial condition and cash flows may be adversely affected.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to does so in the future.
- Risks Relating to the Business: The Company requires significant amounts of working capital and significant portion of its working capital is consumed in trade receivables and inventories. The company inability to meet its working capital requirements including failures to realise receivables and inventories may has an adverse effect on its results of operations and overall business.
- Risks Relating to the Business: Changing regulations in India may result in new compliance requirements that could adversely impact the company business and operations.
- Risks Relating to the Business: The company has certain contingent liabilities, amounting to 10.22% of its net worth, as on March 31, 2026 , which has not been provided for in the company financial statements, which, if they materialize, may adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company success is largely dependent upon its ability to design and develop new sustainable packaging solutions suitable for evolving needs of the company customers and market trends. Any inability to does so could adversely affect its business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: Lapses in precision, product design accuracy or quality control in the company products may lead to customer dissatisfaction, product rejections, reputational damage, or financial losses.
- Risks Relating to the Business: Certain customers or regulatory requirements necessitate process modifications, which may result in increased costs, operational complexity or delays in implementation.
- Risks Relating to the Business: The company is dependent on the availability of timely and cost-efficient third-party transportation and logistics service providers for delivery of its products to the company customers. Any failures by or loss of a third-party transport service provider could result in delays and increased costs, which may adversely affect the company business.
- Risks Relating to the Business: Non-compliance with Safety, Health, Environmental Laws, and Evolving Regulatory Restrictions on Plastic Products May Adversely Affect the company Business, Financial Condition, and Results of Operations.
- Risks Relating to the Business: The company Promoters has extended certain guarantees to third parties on behalf of its Company, aggregating to Rs. 4,510.00 million, as on May 31, 2026. Invocation of such guarantees or any liabilities arising therefrom may adversely impact the company financial condition.
- Risks Relating to the Business: The company is dependent on contractual and payroll labour for its manufacturing activities, and any disruptions, increased costs, or adverse regulatory changes relating to the company workforce could negatively impact its operations and financial performance.
- Risks Relating to the Business: If the company is unable to manage attrition and attract and retain skilled professionals, it may adversely affect its business prospects, reputation and future financial performance.
- Risks Relating to the Business: There are outstanding litigations involving the Company, if determined adversely, may adversely affect its business and financial condition.
- Risks Relating to the Business: The company operations is dependent on a consistent supply of electricity and power, and any disruption to the supply of electricity and power could disrupt its manufacturing operations and increase the company production costs, which could adversely affect its results of operations and profitability.
- Risks Relating to the Business: The company derives its revenue from the sale of products and packaging solutions. Any slowdown in the demand of these products, regulatory changes leading to changes in market demand could has a material adverse effect on the company business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: The company benefit from certain export incentives from the Government of India and certain other benefits, which if withdrawn or modified may has an adverse impact on its results of operations.
- Risks Relating to the Business: An inability to renew quality accreditations in a timely manner or at all, or any deficiencies in the quality of the company products may adversely affect its business prospects and financial performance.
- Risks Relating to the Business: The orders placed by customers may be delayed, modified or cancelled, which may has an adverse effect on the company business, financial condition and results of operations. Further any defaults or delays in payment by a significant portion of its customers, may has an adverse effect on cash flows, results of operations and financial condition.
- Risks Relating to the Business: The company depends on its Promoters and Promoter Group, and upon completion of the Offer, its Promoters and Promoter Group will continue to retain control over the company.
- Risks Relating to the Business: Pricing pressure from customers may affect the company gross margins and ability to increase its prices, which in turn may adversely affect the company Revenue from Operations, profits and cash flows.
- Risks Relating to the Business: Failures or disruption to the company Information Technology and/or business resource planning systems may adversely affect its business, financial condition, results of operations, cash flows and prospects.
- Risks Relating to the Business: The company inability to effectively manage its growth or to successfully implement the company business plan and growth strategies could has an adverse effect on its business, results of operations and financial condition. The success of the company business will depends greatly on its ability to effectively implement the company business and growth strategies.
- Risks Relating to the Business: The company insurance may not be adequate to cover all risks, specifically risks like product defect/liability risk, loss of profits and loss dues to terrorism. As of March 31, 2026, 56.93% of its assets are insured and 43.07% remain uninsured. In the event of the occurrence of such events, the company insurance coverage may not adequately protect its against possible risk of loss.
- Risks Relating to the Business: The company is significantly dependent on the continued services of its Chairman and Managing Director and Whole-Time Directors. Any loss of their services or inability to retain or replace them in a timely manner could adversely affect the company business operations and financial condition.
- Risks Relating to the Business: The company Promoters, certain of its Directors, KMPs and SMPs may be interested in the company other than in terms of remuneration and reimbursement of expenses, and this may result in conflict of interest with the company.
- Risks Relating to the Business: The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
- Risks Relating to the Business: Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Risks Relating to the Business: Within the parameters as mentioned in the chapter titled `Objects of the Offer', the Company's management will has flexibility in applying the proceeds of this Offer. The fund requirement and deployment mentioned in the Objects of this Offer has not been appraised by any bank or financial institution.
- Risks Relating to the Business: Information relating to installed capacity, effective installed capacity, actual production and capacity utilization of the company Manufacturing Facilities included in this Red Herring Prospectus is based on various assumptions and estimates by the chartered engineer verifying such information and future production and capacity utilization may vary.
- Risks Relating to the Business: Industry information included in this Red Herring Prospectus has been derived from an industry report exclusively commissioned and paid for by the Company.
- Risks Relating to the Business: None of the Directors of the Company has experience of being a director of a public listed company.
- Risks Relating to the Business: The company has included certain Non-GAAP Measures, industry metrics and key performance indicators related to its operations and financial performance in this Red Herring Prospectus that are subject to inherent measurement challenges. These Non-GAAP Measures, industry metrics and key performance indicators may not be comparable with financial, or industry-related statistical information of similar nomenclature computed and presented by other companies. Such supplemental financial and operational information is therefore of limited utility as an analytical tool for investors and there can be no assurance that there will not be any issues or such tools will be accurate going forward.
- Risks Relating to the Business: Threats and Challenges for the Flexible Packaging Industry may adversely affect the company business, financial condition and results of operations.
