Knack Packaging Limited

About the company

Knack Packaging is an integrated packaging company with a strong focus on innovation, exports and sustainable packaging solutions. It manufactures a wide range of printed and Laminated Woven Polypropylene (PLWPP) bags and PLWPP pinch bottom bags, which are high-strength, customised packaging products used mainly for food products and pet food. It was also one of the early companies to manufacture BOPP/PLWPP bags and became the first company in India and Asia to introduce laser-cut and easy-open features in PLWPP pinch bottom bags. In FY25, the company held ~10.1% market share in the Indian flexible bulk PLWPP bags market, including pinch bottom bags. Over the years, the company expanded its product portfolio, entered export markets such as the US and Europe by 2018, established a new manufacturing facility at Indrad, Gujarat, in 2020, and incorporated its wholly-owned subsidiary Knack Packaging SA (RF) Proprietary Limited in South Africa in 2021. It also formed a joint venture, Sayem Knack S.A. de C.V., with SACOS Y Empaques Internacionales to expand into Latin America and the USA. The joint venture started commercial operations on April 6, 2026. The company follows a business-to-business-to-consumer (B2B2C) business model and supplies packaging solutions to several leading domestic and global companies. Its major Indian customers include Baba Agro Food Limited, Drools Pet Food Private Limited, KRBL Limited and DCM Shriram Limited, while international customers include Cargill, Cristo S.A. and Repi Soap and Detergent PLC. It exports to 71 countries and offers packaging solutions ranging from 5 kg to 50 kg for products such as grains, pulses, flour, spices, sugar, salt, fruits, nuts, animal feed, pet food, fertilisers, chemicals and construction materials. Cargill remained the company's largest customer in FY26, contributing 16.73% of total revenue or ₹137.73 crore, compared with 19.03% in FY25 and 22.33% in FY24. The top 10 customers together contributed 40.87% of total revenue in FY26. The company currently has four manufacturing facilities, all located in Mehsana district, Gujarat. Unit-1, which is situated on a combination of owned and leased land, manufactures finished PLWPP products. Units 2, 3 and 4 mainly produce semi-finished woven fabric and liners. Overall capacity utilisation for PLWPP products stood at 81.63% in FY26, compared with 85.98% and 88.65% in FY25 and FY24, respectively. The installed capacity also increased from 43,300 MT to 55,800 MT during the same period. Knack Packaging also has a well-developed in-house printing facility that provides complete design support, which includes artwork creation and cylinder development. As of May 31, 2026, it had developed more than 73,000 printing cylinders for 1,950+ customers and 13,379 SKUs. These cylinders are stored in a dedicated warehouse covering 92,065.47 sq. ft. The company has a presence in both domestic and international markets. In FY26, exports contributed 56.30% of revenue from operations, while domestic sales accounted for 43.70%. Its international presence is supported by its South African subsidiary and customers across North America, Africa and different parts of India. Product-wise, printed and laminated woven PP bags remained the largest contributor, accounting for 73.37% of product revenue in FY26, followed by printed and laminated woven PP pinch bottom bags at 20.27%. The remaining revenue came from PP woven bags, bottom gusset bags, block bottom bags and other products. The global market for PLWPP bags, ranging from 5kg to 50kg, was valued at $1.52 billion in CY25 and is expected to reach $1.85 billion by CY29 with a CAGR of 5.0%. The company also expects to benefit from the global China plus one sourcing strategy, which is encouraging international customers to source more products from India. The specialised packaging industry has high entry barriers because it requires significant capital investment, access to PP resin, advanced manufacturing processes, integrated ERP systems and compliance with multiple regulatory standards. The company believes that these factors give established companies a competitive advantage over new entrants. Going forward, the company plans to expand its manufacturing capacity by setting up new production facilities. It will focus on increasing production of pinch bottom bags while also entering new product categories such as PLPE pinch bottom bags and zipper pinch bottom bags, targeting fast-growing segments including pulses, spices, rice and pet food. Now, Knack Packaging Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹380 crore and an offer for sale of ₹60 crore only. The total issue size of the IPO is ₹440 crore. Its shares will be listed on the NSE and BSE. ### **How to pre-apply for Knack Packaging IPO?** You can pre-apply for Knack Packaging IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Knack Packaging IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Pre-Apply’ - Accept the mandate on your UPI app ### **How to apply for Knack Packaging IPO?** If you are interested in this investment opportunity but unsure how to apply for Knack Packaging IPO, here are the steps that you need to follow. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Knack Packaging IPO on Upstox: - Log in to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Knack Packaging IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app ### **How to check the Knack Packaging IPO allotment status? ** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes. Here’s a step-by-step guide on how to check the Knack Packaging IPO allotment status: - Login to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ page, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, you will find the ‘View all’ option - Once you click on ‘View all’, you will be directed to the ‘IPO’ tab - In the ‘IPO’ tab, click on ‘My applications’ - In ‘My applications’, under the History section, your Knack Packaging IPO allotment status will be mentioned

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   01 Jul 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   03 Jul 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   06 Jul 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   07 Jul 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   07 Jul 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   08 Jul 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.