Knack Packaging and Eldorado Agritech File IPO Papers With SEBI, Aim to Raise Over ₹1,400 Crore

Packaging solutions provider Knack Packaging and agro-science company Eldorado Agritech have filed draft papers with the Securities and Exchange Board of India (SEBI) to launch initial public offerings (IPOs), aiming to strengthen operations and fund future growth.

Knack Packaging IPO Details

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Knack Packaging has submitted its Draft Red Herring Prospectus (DRHP) with SEBI to raise funds through a mix of fresh equity shares and an offer for sale (OFS). The proposed offering comprises a fresh issue worth ₹475 crore and an OFS of 7,000,000 shares by existing shareholders.

Promoters and shareholders, including Alpesh Tulsibhai Patel, Rashminbhai Tulsibhai Patel, Pravinkumar Ambalal Patel, and other family members, will be offloading part of their stake through the OFS route.

The company plans to utilise proceeds from the fresh issue to establish a new manufacturing facility in Gujarat and meet general corporate requirements. The IPO will be managed by Systematix Corporate Services, Pantomath Capital Advisors, and IDBI Capital Markets, while MUFG Intime India is the registrar. Shares will be listed on both the National Stock Exchange (NSE) and the BSE.

About Knack Packaging

Knack Packaging is one of India’s prominent packaging solution providers, with a portfolio that includes printed and laminated woven polypropylene (PLWPP) bags and PLWPP pinch bottom bags. The company holds about 10.1% of the domestic market share in flexible bulk PLWPP bags.

It serves top Indian brands such as Baba Agro Food, Drools Pet Food, Laxmi Protein Products, KRBL, and DCM Shriram. Its global footprint spans 68 countries, with clients including Cargill, Cristo S.A., Sacos y Empaques Internacionales, and Repi Soap and Detergent PLC.

Eldorado Agritech IPO Structure and Objectives

Separately, Eldorado Agritech, known for its Srikar Seeds brand, has filed its DRHP with SEBI to raise ₹1,000 crore. The IPO consists of a fresh equity issue of ₹340 crore and an OFS worth ₹660 crore by existing promoters.

Promoters Srinivasa Rao Linga and Usha Rani Papineni will sell shares worth ₹500 crore and ₹160 crore, respectively, under the OFS component. Proceeds from the fresh issue will be used to repay or prepay borrowings amounting to ₹245 crore, with the balance allocated for corporate purposes.

Business Overview

Eldorado Agritech operates across the agriculture value chain, from seed innovation to crop care. Its portfolio includes 226 hybrid and open-pollinated seed varieties covering 47 crops, such as maize, paddy, wheat, cotton, and vegetables.

As of June 30, 2025, the firm held 269 registrations for agrochemical formulations, 43 fertiliser registrations, and 32 bio-stimulant product approvals. It has also applied for nine patents under the Indian Patents Act, 1970, strengthening its regulatory position.

Financial Performance

• In FY25, Eldorado Agritech reported revenue of ₹441 crore and profit after tax of ₹71 crore.
• The company recorded a compound annual growth rate (CAGR) of 27.92% between FY23 and FY25, making it one of the fastest-growing agro-science players in India.

Conclusion

Both Knack Packaging and Eldorado Agritech are gearing up to enter the capital market with sizeable IPOs aimed at expansion, debt reduction, and strengthening business operations. While Knack Packaging is focused on scaling its packaging solutions business domestically and internationally, Eldorado Agritech’s strong financials and diversified portfolio highlight growth potential in India’s agriculture sector. Together, these offerings present investors with opportunities to participate in two high-growth industries ahead of their public listings.