Ahmedabad-based plastic packaging manufacturer Dhaval Packaging Limited (DPL) will launch its initial public offering (IPO) on July 30, with the issue closing on August 3. The company aims to raise Rs. 36.36 crore through a fresh issue of 37,48,800 equity shares.
Dhaval Packaging has fixed a price band of Rs. 92 to Rs. 97 per share for the IPO. The net proceeds from the issue will be utilised for capacity expansion at its manufacturing facility at Sanand-II Industrial Estate, for which Rs. 27.19 crore has been earmarked. A further Rs. 3.75 crore will be utilised for the repayment or prepayment of certain loans, while the rest will be used for general corporate purposes.
