Ecoline Exim Limited, incorporated in 2008 and headquartered in Kolkata, is a manufacturer of sustainable cotton and jute packaging and promotional bags. The company exports its products to over 27 countries, including the EU, USA, Japan, Southeast Asia, and Mexico. Ecoline Exim serves supermarkets, retail chains, wholesalers, and promotional companies as an OEM.
The company operates three manufacturing units, one in Ahmedabad, Gujarat, and two in West Bengal. As of March 31, 2025, it had 201 permanent employees and 339 contractual employees.
Products:
- Cotton Bags: Conventional, Organic, Fairtrade
- Jute Bags: Standard jute shopping bags
Competitive Strengths:
- Eco-friendly business model focusing on Reduce, Reuse, Recycle.
- Stringent quality control ensuring standardized product quality.
- Strategically located in-house manufacturing capabilities.
- Long-standing customer relationships.
- Widespread international market reach.
- tredingmarket.com ecoline.net.in
📊 IPO Details-Ecoline Exim Limited
| Feature | Details |
|---|---|
| IPO Type | Book Building (Fresh Issue + Offer for Sale) |
| Price Band | ₹134 – ₹141 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,000 shares |
| Minimum Retail Investment | ₹2,82,000 (2,000 shares) |
| HNI Minimum Investment | 3 lots (3,000 shares) = ₹4,23,000 |
| Issue Open | Sep 23, 2025 |
| Issue Close | Sep 25, 2025 |
| Allotment Date | Sep 26, 2025 |
| Refund Initiation | Sep 29, 2025 |
| Share Credit | Sep 29, 2025 |
| Tentative Listing | Sep 30, 2025 (NSE SME) |
| Book Running Lead Manager | Hem Securities Ltd. |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Market Maker | Hem Finlease Pvt. Ltd. |
| Total Issue Size | 54,20,000 shares (₹76.42 Cr) |
| Fresh Issue | 40,68,000 shares (₹61.19 Cr) |
| Offer for Sale | 10,80,000 shares (₹15.23 Cr) |
| Market Maker Reserved | 2,72,000 shares (₹3.84 Cr) |
💹 Shareholding & Reservation-Ecoline Exim Limited
| Category | Shares Offered | % Allocation |
|---|---|---|
| Market Maker | 2,72,000 | 5.02% |
| QIB | 25,73,000 | — |
| NII (HNI) | 7,73,000 | 14.26% |
| Retail (RII) | 18,02,000 | 33.25% |
| Total | 54,20,000 | 100% |
Promoters: Sudarshan Saraogi, Saurabh Saraogi, Shradha Saraogi, Gunjal Saraogi, SL Commercial Pvt. Ltd.
- Pre-IPO: 100%
- Post-IPO: 73.58%
📈 Financials (Restated Standalone)-Ecoline Exim Limited
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr) | 146.31 | 128.72 | 104.46 |
| Total Income | 273.07 | 280.59 | 310.67 |
| PAT | 18.82 | 22.59 | 18.86 |
| EBITDA | 29.99 | 33.94 | 30.57 |
| Net Worth | 88.45 | 71.70 | 49.11 |
| Reserves & Surplus | 72.27 | 70.54 | 47.96 |
| Total Borrowing | 39.89 | 44.81 | 42.47 |
Key Performance Indicators (FY25):
- ROE: 23.51%
- ROCE: 21.14%
- Debt/Equity: 0.45
- PAT Margin: 6.99%
- EBITDA Margin: 11.14%
- Price to Book Value: 2.58
- Market Cap: ₹289.27 Cr
- Pre IPO EPS: ₹11.64, P/E: 12.12x
- Post IPO EPS: ₹9.17, P/E: 15.37x
🎯 IPO Objectives-Ecoline Exim Limited
| Object | Expected Amount (₹ Cr) |
|---|---|
| Capital expenditure for new manufacturing facility in Ahmedabad | 50.00 |
| General Corporate Purposes | Remaining balance |
📌 Summary
Ecoline Exim Limited IPO offers investors a chance to participate in sustainable packaging solutions, a sector gaining traction globally. The IPO is reasonably priced with moderate financial growth and an established export footprint. Long-term investors with interest in eco-friendly manufacturing may consider this opportunity.
Reference: Ecoline Exim IPO RHP