NEW DELHI — Integrated packaging solutions provider Bharat PET Limited has filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise ₹760 crore through an initial public offering (IPO). The company, which has evolved from a regional manufacturer into a major player in the rigid packaging sector, aims to capitalize on the surging demand for specialized packaging across the agrochemical and FMCG sectors.
IPO Structure & Details
The offering is a combination of a fresh capital raise and an exit for existing promoters.
| Component | Amount |
| Total Issue Size | Up to ₹760 Crore |
| Fresh Issue | ₹120 Crore |
| Offer for Sale (OFS) | ₹640 Crore (by existing promoters) |
| Face Value | ₹10 per Equity Share |
| Pre-IPO Placement | Up to ₹24 Crore (optional) |
Promoters Paring Stakes: The OFS includes shares from Deepak Gupta, Ankur Gupta, Rahul Gupta, Sonu Gupta, Stuti Gupta, Ruchi Gupta, Mitali Gupta, and Santosh Devi Gupta.
Use of Proceeds
The company plans to deploy the ₹120 crore from the fresh issue toward three primary goals:
- Debt Reduction: ₹50 crore will be used to repay existing borrowings.
- Capital Expenditure: ₹35.8 crore is earmarked for purchasing new machinery and equipment to expand capacity.
- General Corporate Purposes: The remaining funds will support day-to-day operations and growth initiatives.
Business Profile & Market Standing
Founded in 1998, Bharat PET has built a niche in the rigid packaging market, specifically catering to high-stakes industries like agrochemicals, where it holds an estimated 11% market share in India.
- Diverse Portfolio: Manufactures PET bottles, jars, preforms, multi-layer co-extruded bottles, caps, closures, and tin containers.
- Manufacturing Reach: Operates four facilities across Delhi, Haryana (Sonipat), Gujarat (Ankleshwar), and Jammu, with a total installed capacity of 18,110.53 MTPA.
- Blue-Chip Clients: Serves over 1,500 customers, including Tata Consumer Products, Dhanuka Agritech, PI Industries, and India Pesticides Limited.
- Customer Loyalty: Approximately 91% of its revenue in FY25 came from repeat customers.
Financial Performance (FY25 Highlights)
Bharat PET demonstrated robust growth and capital efficiency in its most recent filings:
- Revenue: ₹411.82 Crore (FY25).
- Profit After Tax (PAT): ₹50.99 Crore.
- EBITDA Margin: 21.35% (rising to 25.96% for the first half of FY26).
- Efficiency Ratios: Reported a strong Return on Equity (ROE) of 53.33% and Return on Capital Employed (ROCE) of 32.51% for FY25.
Market Context & Lead Managers
The IPO comes at a time when the Indian packaging industry is witnessing rapid consolidation and growth driven by e-commerce and pharmaceutical demand. Bharat PET will compete with listed peers such as Mold-Tek Packaging, Shaily Engineering Plastics, and Time Technoplast.
Lead Managers: Equirus Capital Private Limited and Ambit Private Limited are the Book Running Lead Managers for the issue.
