Ecoline Exim IPO: Price, GMP, Analysis, And Details

Ecoline Exim IPO- Company Analysis 

Ecoline Exim IPO under the SME IPO category is a bookbuild issue of Rs. 76.42 Cr by Ecoline Exim Ltd, which was incorporated in 2008, and specializes in textiles and related materials, and trades and exports a variety of goods. The business has grown over the years, now operating several sites across Gujarat and West Bengal.

The business is an OEM that supplies packaging solutions to wholesalers, retail chains, supermarkets, and advertising agencies.

Products

• Cotton Bags

• Jute Bags.

Ecoline Exim IPO Details

The Ecoline Exim IPO date is on 23 September 2025, and its initial public offering will end on 25 Sep with IPO allotment on Sep 26, and refund initiation on Sep 29, 2025.

The Rs. 76.42 crore new SME IPO comprises a combination of fresh issue of 0.43 crore shares (Rs. 61.19 Cr) and an offer for sale (OFS) of 0.11 crore shares (Rs. 15.23 Cr).

The Ecoline Exim IPO listing date (expected) might be on Tuesday, Sep 30, 2025, and listing at the NSE and SME. 

The Ecoline Exim IPO price band is Rs. 134 to Rs. 141.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Sep 23, 2025
IPO Closing Date	Sep 25, 2025
IPO Allotment Date	Sep 26, 2025
Refund Initiation	Sep 29, 2025
IPO Listing Date	Sep 30, 2025

 

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Company Financials

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	146.31	128.72	104.46
Total Revenue	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

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(498.15)	2,008.07	1,355.86
Net Cash Flow Investing Activities	137.36	(1,322.82)	(681.86)
Net Cash Flow Financing Activities	(699.55)	77.43	(46.45)

Revenue Bifurcation

Sales-wise Revenue Breakdown

Segment-wise Revenue Breakdown

Geography-wise Revenue Breakdown

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Funding the capital expenditures for the purchase of equipment and machinery, building construction, mechanical and electrical work, and the establishment of a new manufacturing facility in Ahmedabad ("Proposed Factory V"). ~ Rs. 50 Cr.

• General Corporate Purposes.
  
  

Listed Peers of Ecoline Exim Ltd. 

No listed peer of a similar size is engaged in the same lines of business as mentioned in the RHP.

Valuation

Metric	Value
ROCE	21.14%
ROE	23.51%
PBV	2.58
Debt/Equity	0.45
PAT Margin	6.99%
EBITDA Margin	11.14%
RoNW	21.28%

 

 

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 11.64 from the last year, the resulting P/E ratio is 12.11x. 

 

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IPO's Strengths

• Knowledgeable managers and promoters.

• A varied product line with several locations.

• Cultivated connections with clients and suppliers.

• Consistent earnings and high profitability.

 

IPO’s Weaknesses

• Since this is the first listing, there is no previous market history.

• Dependent on price-variable commodities-related items.

• A cutthroat industry with narrow profit margins.

• Risks of geographical and operational concentration.

 

Ecoline Exim IPO GMP (Grey Market Premium)

Ecoline Exim IPO GMP today is Rs. 5 as of 20 Sep 2025 at the time of writing this information.

Ecoline Exim IPO Summary

The Ecoline IPO has a market maker portion size of 2,72,000 Shares (Rs. 3.84 Cr).

IPO Opening & Closing Date	23 Sep, 2025 to 25 Sep, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 134 to Rs. 141 per Share.
Lot Size	1000 Shares
Issue Size	54,20,000 Shares (Rs. 76.42 Cr)
Offer for Sale	10,80,000 Shares (Rs. 15.23 Cr)
Fresh Issue	40,68,000 Shares (Rs. 57.36 Cr)
Listing at	NSE, SME
Issue Type	Bookbuilding IPO
Registrar	MUFG Intime India Pvt. Ltd.

 

 

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (2000 Shares) for Rs. 2,82,000 and in multiples thereof, while for S-HNI investors, the minimum Lot is 3 (3000 Shares) for Rs. 4,23,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

Ecoline Exim IPO Allotment Status

To check the Ecoline Exim IPO Allotment Status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Ecoline Exim Ltd.

• Sudarshan Saraogi

• Saurabh Saraogi

• Shradha Saraogi

• Gunjal Saraogi

• SL Commercial Private Limited.
  
  

Pre-Issue Promoter Shareholding	100%
Post-Issue Promoter Shareholding	73.58%

 

IPO Lead Managers

• Hem Securities Ltd.  

Dividend Policy

The company has not paid a dividend during the last three fiscal years.

Conclusion

An opportunity to engage in a lucrative, expanding trading-export business with solid financial performance is presented by the Ecoline Exim IPO. Despite the company's strong fundamentals and promising future, there are still risks associated with market rivalry and exposure to commodities.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.