RFBL Flexi Pack IPO Opens Today 12 May 2026: GMP at Rs 8 (16%), Price Band Rs 47-50, NSE SME Issue of Rs 35.32 Crore

The RFBL Flexi Pack IPO opens for subscription today on 12 May 2026 on the NSE SME platform. The Gujarat-based printed flexible packaging manufacturer has fixed a price band of Rs 47 to Rs 50 per share for its Rs 35.32 crore SME IPO, which comprises entirely a fresh issue with no offer for sale component. The RFBL Flexi Pack IPO GMP as of 9 May 2026 stands at Rs 8 per share, implying an expected listing premium of approximately 16 percent over the upper band of Rs 50, with a projected listing price of approximately Rs 58.

Anchor investor bidding for the RFBL Flexi Pack IPO took place on 11 May 2026. The issue will be open for subscription from 12 May to 14 May 2026, with allotment on 15 May and listing on the NSE SME platform on 19 May 2026.

RFBL Flexi Pack IPO Key Details

• Exchange: NSE SME
• Issue Opens: 12 May 2026 (today)
• Issue Closes: 14 May 2026
• Allotment Date: 15 May 2026
• Listing Date: 19 May 2026
• Price Band: Rs 47 to Rs 50 per share
• Face Value: Rs 10 per share
• Issue Size: Rs 35.32 crore (100% fresh issue, 70,65,000 shares)
• Lot Size: 3,000 shares
• Minimum Retail Application: 2 lots (6,000 shares) at Rs 3,00,000
• Minimum HNI Application: 3 lots (9,000 shares) at Rs 4,50,000
• Category Split: QIB 5.37%, NII 31.78%, Retail 62.85%
• GMP (as of 9 May 2026): Rs 8 per share (16% premium over upper band)
• Implied Listing Price (GMP basis): Approximately Rs 58
• Lead Manager: Grow House Wealth Management Pvt Ltd
• Registrar: KFin Technologies Ltd

Track RFBL Flexi Pack IPO subscription status and GMP updates on the Check the Univest Screener for live data.

About RFBL Flexi Pack: Business and Financials

Gujarat-Based Flexible Packaging Manufacturer Since 2005

RFBL Flexi Pack Ltd was established in July 2005 and operates an integrated manufacturing facility in Himatnagar, Sabarkantha district of Gujarat, near the Rajasthan border. The company manufactures and trades printed multilayer flexible packaging materials including plastic film rolls, laminated films, pouches and specialty films for food and beverage, pharmaceutical, agriculture, home care and consumer goods companies. All operations are ISO 9001:2015 certified.

The business operates on a B2B model serving industrial clients that require high-quality, customised printed flexible packaging. The product range covers BOPP, CPP, CPE and metallized films processed through advanced lamination techniques. The Himatnagar location provides logistics advantages for customers across western and northern India.

Strong Revenue Growth: Rs 135.46 Crore in FY25

RFBL Flexi Pack reported FY25 revenue from operations of Rs 135.46 crore, up 69.4 percent from Rs 79.96 crore in FY24. PAT grew to Rs 8.33 crore in FY25 from Rs 5.79 crore in FY24, a 43.9 percent year-on-year increase. This step-up in both revenue and profitability from FY24 to FY25 is one of the key positives behind the RFBL Flexi Pack IPO GMP of Rs 8. Current capacity utilisation is approximately 52 percent of installed capacity, suggesting meaningful headroom for growth from the IPO’s fresh capital infusion.

RFBL Flexi Pack IPO Use of Proceeds

• Capital Expenditure: Rs 12.41 crore for plant and machinery upgrades to add approximately 5,840 MTPA of additional flexible packaging capacity.
• Working Capital: Rs 17.76 crore to fund raw material procurement, finished goods inventory and debtor cycles for the expanded capacity.
• General Corporate Purposes: Remaining proceeds for operational and administrative requirements.

RFBL Flexi Pack IPO GMP Day 1 Analysis

The RFBL Flexi Pack IPO GMP of Rs 8 as of 9 May 2026 represents a 16 percent premium over the Rs 50 upper band. GMP rose from Rs 0 on 8 May to Rs 8 on 9 May, reflecting building grey market interest as anchor bidding day (11 May) approached. Day 1 of subscription, which is today, typically sees lower participation as QIBs and large HNI investors wait for Day 2 and Day 3 before placing bids.

The RFBL Flexi Pack IPO GMP Day 1 of Rs 8 is encouraging but modest. For context, Recode Studios on Day 1 also opened with a GMP of Rs 11 and rose to Rs 43 by closing, so the Day 1 reading should not be extrapolated linearly. Track live subscription data across all three categories on the NSE SME platform to get a clearer demand picture by Day 3.

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Key Risks in the RFBL Flexi Pack IPO

• Sudden Revenue Growth Raises Questions: Revenue nearly doubling from FY24 to FY25 warrants scrutiny of revenue recognition practices and customer concentration. Investors should review the RHP carefully.
• Capacity Expansion Into Weak Demand: The company is adding nearly 5,840 MTPA of capacity while operating at only 52 percent of existing installed capacity. The rationale for aggressive expansion before existing capacity is full should be evaluated.
• SME Liquidity Risk: NSE SME listings have structurally lower daily trading volumes than mainboard stocks. Exit at a fair price post-listing may require time.
• Market Conditions on Listing Day: Listing is on 19 May. If market conditions remain negative due to crude oil and geopolitical headwinds, even positively-subscribed SME IPOs can see muted listing gains.

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Conclusion

The RFBL Flexi Pack IPO opens today on 12 May 2026 with a GMP of Rs 8 and a price band of Rs 47 to Rs 50 for its Rs 35.32 crore NSE SME issue. The Gujarat-based flexible packaging manufacturer’s FY25 revenue of Rs 135.46 crore and PAT of Rs 8.33 crore provide a fundamental support for the listing premium. However, the rapid revenue growth, expansion into underutilised capacity and SME liquidity constraints are key risks. Track the RFBL Flexi Pack IPO subscription status live on Univest and consult a SEBI-registered advisor before applying.

FAQs on RFBL Flexi Pack IPO

What is the RFBL Flexi Pack IPO price band and listing date?

Ans. The RFBL Flexi Pack IPO price band is Rs 47 to Rs 50 per share. The IPO opens today 12 May 2026, closes 14 May 2026, with allotment on 15 May and listing on the NSE SME platform on 19 May 2026.

What is the RFBL Flexi Pack IPO GMP today?

Ans. The RFBL Flexi Pack IPO GMP as of 9 May 2026 was Rs 8 per share, implying a listing price of approximately Rs 58 against the Rs 50 upper band, a 16 percent premium. GMP can change daily and is not a guaranteed indicator of actual listing price.

What does RFBL Flexi Pack do?

Ans. RFBL Flexi Pack Ltd is a Gujarat-based printed multilayer flexible packaging manufacturer established in 2005. It produces plastic film rolls, laminated films and pouches for food and beverage, pharmaceutical, agriculture and home care industries on a B2B model from its ISO 9001:2015 certified facility in Himatnagar, Sabarkantha.

What is the minimum investment for RFBL Flexi Pack IPO?

Ans. The minimum lot size for the RFBL Flexi Pack IPO is 3,000 shares. Retail investors must apply for a minimum of 2 lots (6,000 shares), requiring a minimum investment of Rs 3,00,000 at the upper band of Rs 50.

How to apply for RFBL Flexi Pack IPO?

Ans. Apply for the RFBL Flexi Pack IPO through ASBA via your bank account’s net banking section, through a UPI-enabled broker app or through your broker’s physical form. The IPO is listed on the NSE SME platform. Apply before the window closes on 14 May 2026.

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