Bharat PET Limited, an integrated packaging solutions provider, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise ₹760 crore through an initial public offering (IPO).
Bharat PET IPO Details
The proposed IPO consists of a fresh issue of equity shares worth ₹120 crore and an offer for sale (OFS) of ₹640 crore by existing promoter shareholders, including members of the Gupta family.
Additionally, the company may consider a pre-IPO placement of up to ₹24 crore, subject to regulatory approvals and market conditions.
Utilisation of IPO Proceeds
Bharat PET plans to strategically deploy the funds raised from the fresh issue towards:
- Repayment of borrowings (₹50 crore)
- Capital expenditure for machinery and equipment (₹35.8 crore)
- General corporate purposes
This move is expected to strengthen the company’s balance sheet and support its future growth plans.
Company Overview
Founded in 1998, Bharat PET has evolved from a regional manufacturer into a leading integrated packaging solutions provider. The company manufactures a wide range of rigid packaging products, including:
- PET bottles and jars
- PET preforms
- Multi-layer co-extruded bottles
- Caps and closures
- Tin containers
It serves multiple industries, with a strong focus on the agrochemical sector, where it holds approximately 11% market share in India.
Strong Customer Base and Market Presence
Bharat PET caters to over 1,500 customers, with 841 active clients as of September 2025. Notably, repeat customers contribute around 91% of its revenue, highlighting strong customer retention.
Its key clients include major companies across FMCG, chemicals, and beverage industries.
Manufacturing Capabilities and Infrastructure
The company operates four manufacturing facilities located in:
- Delhi
- Sonipat
- Ankleshwar
- Jammu
As of September 2025, Bharat PET had an installed capacity of 18,110.53 MTPA, which later expanded to 33,401 MTPA on a pro forma basis.
Its in-house design and tooling capabilities allow rapid prototyping and delivery of moulds within 48 hours, offering a significant competitive edge.
Financial Performance and Growth
Bharat PET has demonstrated strong financial growth and profitability:
- Revenue (FY25): ₹411.82 crore
- Revenue (H1 FY25): ₹274.90 crore
- EBITDA Margin: 21.35% (FY25), 25.96% (H1 FY25)
- PAT (FY25): ₹50.99 crore
- PAT Margin: 16.90%
The company also reported impressive capital efficiency:
- ROE: 53.33%
- ROCE: 32.51%
These metrics position Bharat PET among the top performers in the packaging sector.
Competitive Landscape
Bharat PET competes with established listed players such as:
- Mold Tek Packaging
- Shaily Engineering Plastics
- Time Technoplast
Compared to peers, the company has achieved:
- Second-highest fixed asset turnover ratio (4.63)
- Highest return on equity (ROE)
- Strong CAGR growth during FY23–FY25
Industry Outlook
India’s packaging industry is witnessing rapid growth driven by:
- Rising consumer demand
- Urbanisation
- Expansion of e-commerce
- Increasing adoption of sustainable packaging
The rigid plastic packaging market is expected to grow significantly by 2030, led by sectors such as FMCG, pharmaceuticals, agrochemicals, and beverages.
IPO Lead Managers
The IPO is being managed by:
- Equirus Capital Private Limited
- Ambit Private Limited
Ruchi Kumar is the associate editor at Entrepreneur News Network and TVW News India, where she leads editorial strategy, brand storytelling, and startup ecosystem coverage. With a strong focus on innovation, business, and marketing insights, he curates impactful narratives that spotlight India’s evolving entrepreneurial landscape. She has written extensively on fintech, AI and emerging startups.