Ecoline Exim Limited is engaged in the business of manufacturing sustainable cotton and jute packaging and promotional bags. The company focuses on providing eco-friendly alternatives to plastic packaging, catering to the growing global demand for reusable and biodegradable solutions.
The company exports its products to more than 25 countries, including key markets such as the European Union, USA, Japan, Southeast Asia, and Mexico.
Ecoline Exim operates as an Original Equipment Manufacturer (OEM), supplying packaging solutions to:
- Supermarkets
- Retail chains
- Wholesalers
- Promotional companies
As of September 30, 2024, the company had supplied products to 48 functional customers and 24 promotional customers. Further, by December 31, 2024, it had an outstanding order book worth ₹9,744.37 lakhs from around 60 customers, showcasing strong business visibility and consistent demand.
Ecoline Exim Limited operates three manufacturing units, comprising one facility in Ahmedabad, Gujarat, and two in West Bengal. This strategic geographic spread enables the company to cater efficiently to both domestic and international demand.
As of September 30, 2024, the company employed 267 people across different locations, supporting its production, operations, and export activities.
Ecoline Exim IPO – Details
| IPO Opening Date | 23 September 2025 |
| IPO Closing Date | 25 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 54,20,000 Shares Worth ₹76.42 Crore Fresh Issue: 43,40,000 Shares Worth ₹61.19 Crore Offer For Sale: 10,80,000 Shares Worth ₹15.23 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹134– ₹141 per share |
| Market Lot | 1000 Shares |
| Min Order | 1000 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Ecoline Exim IPO – Date Schedule
| IPO Open Date | 23 September 2025 |
| IPO Close Date | 25 September 2025 |
| Basis of Allotment | 26 September 2025 |
| Initiation of Refund | 29 September 2025 |
| Credit of Shares to Demat | 29 September 2025 |
| IPO Listing Date | 30 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2025 |
Ecoline Exim IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹2,82,000 |
| Retail (Max) | 2 | 2,000 | ₹2,82,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,23,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,87,000 |
| B-HNI (Min) | 8 | 8,000 | ₹11,28,000 |
Competitive Strengths
- Sustainable and Eco-friendly business model focusing on three R’s of the environment – Reduce, Reuse and Recycle.
- Stringent quality control mechanism ensuring standardized product quality.
- Strategically located in-house manufacturing capabilities with design expertise.
- Long standing association with customers.
- Widespread reach in International Market.
Company Promoters
- Sudarshan Saraogi
- Saurabh Saraogi
- Shradha Saraogi
- Gunjal Saraogi
- SL Commercial Private Limited
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹310.67 Cr | ₹286.11 Cr | ₹18.86 Cr | ₹42.47 Cr |
| 31 March 2024 | ₹280.59 Cr | ₹251.98 Cr | ₹22.59 Cr | ₹44.81 Cr |
| 31 March 2025 | ₹273.07 Cr | ₹247.92 Cr | ₹18.82 Cr | ₹39.89 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 23.51% |
| ROCE | 21.14% |
| Debt/Equity | 0.45 |
| RoNW | 21.28% |
| PAT Margin | 6.99% |
| EBITDA Margin | 11.14% |
| Price to Book Value | 2.58 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.64 | 9.17 |
| P/E (x) | 12.12 | 15.37 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding the capital expenditure towards construction of building, mechanical and electrical works and procurement of plant and machinery for setting up a new manufacturing facility at Ahmedabad (“Proposed Factory V”). | ₹50.00 |
| General Corporate Purposes. | – |
✅Strengths
- Eco-friendly cotton & jute bag model (3R’s: Reduce, Reuse, Recycle).
- Strong global exports (25+ countries).
- Quality control & in-house manufacturing.
- Long customer relationships & healthy financials.
- Experienced management team.
⚠️Risks
- Heavy export dependency (100% revenue from exports).
- Forex fluctuations impact earnings.
- Compliance with global trade laws & tariffs.
- Vulnerable to geopolitical/natural disruptions.
- High customer concentration & competition.
Ecoline Exim IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.58% |
Ecoline Exim IPO Prospectus
Company Contact Information
| Ecoline Exim Ltd. 8, G.C. Ghosh Road Kolkata, West Bengal, 700048 Phone: +91-89101-0025 Email: cs@ecoline.net.in Website: https://ecoline.net.in/ |
Ecoline Exim IPO Registrar
| MUFG Intime India Pvt.Ltd. Phone: +91-22-4918 6270 Email: ecolineexim.smeipo@in.mpms.mufg.com Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Ecoline Exim IPO Lead Manager(s)
| 1. Hem Securities Ltd. |
Ecoline Exim IPO FAQ
| What is Ecoline Exim IPO? Ecoline Exim IPO is an SME IPO. The issue is priced at ₹134 – ₹141 per equity share. The IPO is to be listed on NSE SME. |
| When Ecoline Exim IPO will open? The IPO is to open on 23 September 2025 for QIB, NII, and Retail Investors. |
| What is Ecoline Exim IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Ecoline Exim IPO Size? Ecoline Exim IPO size is ₹76.42 Crore. |
| What is Ecoline Exim IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 2000 Shares with ₹2,82,000 amount, while the maximum bid is 2000 Shares with ₹2,82,000. |
| What is the Ecoline Exim IPO Allotment Date? Ecoline Exim IPO allotment date is 26 September 2025. |
| What is the Ecoline Exim IPO Listing Date? Ecoline Exim IPO listing date is 30 September 2025. The IPO is to be listed on the NSE SME. |
