THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT. THIS DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES.

DHAVAL PACKAGING LIMITED

(Formerly Known as Dhaval Packaging Private Limited)

Corporate Identity Numbers: U22203GJ2015PLC084963

Our Company was incorporated on November 02, 2015 as 'Dhaval Packaging Private Limited', a private limited company under the provisions of the Companies Act, 2013, pursuant to a certificate of incorporation issued by the Assistant Registrar of Companies, Gujarat, at Ahmedabad. Subsequently, our Company was converted into a public limited company pursuant to a resolution passed by our Board of Directors in their meeting held on August 14, 2025 and by our Shareholders in an Annual General Meeting held on September 08, 2025 and consequently the name of our Company was changed to 'Dhaval Packaging Limited' and a fresh certificate of incorporation dated October 08, 2025, consequent upon conversion to public company was issued by the Central Processing Centre on behalf of the jurisdictional Registrar of Companies. The corporate identification number of our Company was U25202GJ2015PLC084963. Subsequently, the Object Clause of the Memorandum of Association of our Company was amended pursuant to a resolution passed by our Board of Directors in their meeting held on September 24, 2025, and by our Shareholders in an Extraordinary General Meeting held on October 08, 2025. Consequent to such alteration, a fresh certificate of incorporation dated October 22, 2025, reflecting the change in the Object Clause, was issued by the Registrar of Companies, Central Processing Centre, on behalf of the jurisdictional Registrar of Companies. The Corporate Identification Number (CIN) of our Company has been changed to U22203GJ2015PLC084963. For further details of our Company, please refer to section titled "History and Corporate Structure" beginning on page 203 of this Prospectus.

1. A majority of our revenue from operations is from our top 10 customers (which accounted for 51.27%, 46.37% and 49.76% of our revenue from operations for Fiscal Year ended March 31, 2026, March 31, 2025 and March 31, 2024). Additionally, a significant portion of our revenue from operations is derived from our existing customers. Loss of any such customers or reduction in business or demand from such customers will have a significant adverse impact on our business and results of operation.

2. We depend on a limited number of suppliers for our raw material requirements of our business. Further, we do not have definitive agreements or fixed terms of trade with most of our suppliers. Failure to successfully leverage our relationships with existing suppliers or to identify new suppliers could adversely affect our business operations.

3. Pending NCLT proceedings for revision of Financial Statements and Board's Reports may result in regulatory action and penalties.

4. There have been certain instances of delays in payment of certain statutory dues by us. Any further delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may have a material adverse impact on our financial condition and cash flows.

5. There have been instances of delays in filings of certain forms which were required to be filed as per the reporting requirements as well as discrepancies in the forms submitted to the Registrar of Companies (ROC)/Central Registration Centre (CRC) in accordance with the Companies Act, 2013.

6. Any disruptions to the supply, or increases in the pricing, of the raw materials and finished products that we procure, may adversely affect the supply and pricing of our products and, in turn, adversely affect our business, cash flows, financial condition and results of operations.

7. Our revenues are significantly dependent on certain geographical regions, and any adverse developments in these regions could adversely impact our business, financial condition and results of operations.

8. Our manufacturing facilities are located only in the state of Gujarat. Any adverse developments affecting our operations in the Gujarat could have an adverse impact on our revenue and results of operations.

9. Our business is operating under various laws which require us to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business, and if we are unable to obtain these approvals and the renewals, our business operations could be adversely affected thereby impacting our revenues and profitability

10. Our business operations are highly dependent on the efficient functioning of our manufacturing machinery, and any breakdown, malfunction or technical failure may adversely affect our production and profitability.

This Issue was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 229 of the SEBI ICDR Regulations and in compliance with Regulation 253 of the SEBI ICDR Regulations, wherein not more than 50.00% of the Net Issue was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion") our Company in consultation with the BRLM may allocated 60.00% of the QIB Portion to Anchor Investors on a discretionary basis ("Anchor Investor Portion"). 33.33% of the Anchor Investor Portion shall be reserved for domestic Mutual Funds and 6.67% for Life Insurance Companies and Pension Funds (aggregating to 40%), subject to valid Bids being received from them at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations. In the event of under-subscription in the Life Insurance Companies and Pension Funds portion, the same may be allocated to domestic Mutual Funds. Further, 5.00% of the Net QIB Portion was made available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion was made available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids having been received at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 5.00% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion were added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than 15.00% of the Net Issue was made available for allocation on a proportionate basis to Non-Institutional Investors out of which (a) one third of the portion available to non-institutional investors was reserved for applicants with application size of more than two lots and up to such lots equivalent to not more than Rs. 10 lakhs (b) two third of the portion available to non-institutional investors was reserved for applicants with application size of more than Rs. 10 lakhs, provided that the unsubscribed portion in either of the sub-categories specified in clauses (a) or (b) was allocated to applicants in the other sub-category of non-institutional investors, and not less than 35.00% of the Net Issue was made available for allocation to the Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received from them at or above the Issue Price. All Bidders were required to participate in the Issue by mandatorily utilizing the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA Account (as defined hereinafter) in which the corresponding Bid Amounts were blocked by the Self Certified Syndicate Banks ("SCSBs") or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. For details, see "Issue Procedure" on page 308 of this Prospectus.

The bidding for Anchor investors was opened and closed on July 29, 2026. The company received 5 Anchor Investors application for 13,41,600 Equity Shares. The Anchor Investor Allocation Price was finalized at Rs. 97.00 per Equity Share. A total of 10,30,800 Equity Shares were allotted under the Anchor Investor portion aggregating to Rs. 9,99,87,600.

The issue (excluding Anchor Investor Portion) received 25,493 applications for Equity Shares (before rejections and after removing Multiple/Duplicate bids, and Bid not Banked) resulting in 46.76 times subscription (including reserved portion of market maker). The Details of the total Applications received in the issue from various categories are as under (before rejections):

* Individual Investors means Individual Investors who applies for minimum application size.

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE on August 4, 2026

1. Allocation to Individual Investor (After Rejections & Withdrawal) (including ASBA Applications): The Basis of Allotment to the Individual Investors, who have bid at or above the Issue Price of Rs. 97 per equity shares, was finalized in consultation with BSE. The category was subscribed by 39.70949 times i.e. for 48,223,200 Equity Shares. Total number of shares allotted in this category is 1,214,400 Equity Shares (i.e. Includes spilled over of 9,600 Equity Shares from Employee Category) to 506 successful applicants. The category wise details of the Basis of Allotment as under:

2. Allocation to Non-Institutional Investors (up to Rs. 10 lakhs) (After Rejections & Withdrawal): The Basis of Allotment to Other than Individual Investors (who applied for minimum application size), who have bid at Issue Price of Rs. 97 per equity shares or above, was finalized in consultation with BSE. The category was subscribed by 49.38621 times i.e. for 8,593,200 Equity Shares. The total number of shares allotted in this category is 174,000 Equity Shares (i.e. Includes spilled over of 1,200 Equity Shares from Employee Category) to 48 successful applicants. The category wise details of the Basis of Allotment are as under:

Note : 1 lot of 1200 shares have been allocated to 1 Applicant from amongst 4 Successful Allottees from Category 4800 to 9600 (i.e.excluding successful Allottees from Category 3600) in the ratio of 1:4.

3. Allocation to Non-Institutional Investors (above Rs. 10 lakhs) (After Rejections & With drawl) (including ASBA Applications)

The Basis of Allotment to Other than Individual Investors (who applied for minimum application size), who have bid at Issue Price of Rs. 97 per equity shares or above, was finalized in consultation with BSE. The category was subscribed by 88.03103 times i.e. for 30,634,800 for Equity Shares. The total number of shares allotted in this category is 348,000 Equity Shares (i.e. Includes spilled over of 3,600 Equity Shares from Employee Category) to 96 successful applicants. The category wise details of the Basis of Allotment are as under:

Note : 1 (One) lot of 1200 shares have been allocated to all the 96 Successful Applicants from all the Categories in the ratio of 2 : 96

4. Allotment to Eligible Employees (After Technical Rejections) (including ASBA Applications): The Basis of Allotment to the Eligible Employees, who have bid at the Offer Price of Rs. 97 per Equity Share or above, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.82000 times. The total number of Equity Shares allotted in this category is 98,400 Equity Shares to 21 successful applicants. The category-wise details of the Basis of Allotment are as under:

Unsubscribed portion of 21,600 Equity Shares spilled over to QIBs, NIB and Individual Investor Categories in the ratio of 50:15:35.

5. Allocation to QIBs excluding Anchor Investors (After Rejections & Withdrawal): The Basis of Allotment to QIBs, who have bid at Issue Price of Rs. 97/- per Equity Shares or above, was finalized in consultation with BSE. The category was subscribed by 55.44732 times i.e. for 38,524,800 Equity Shares. The total number of shares allotted in this category is 694,800 Equity Shares (i.e., Includes spilled over of 34,800 Equity Shares from QIB MF category and 7,200 Equity shares from Employee Category) to 25 successful applicants. The category wise details of the Basis of Allotment are as under:

6. Allocation to Anchor Investors (After Rejections & Withdrawal): The Company in consultation with the BRLM has allotted 1,030,800 Equity Shares to 5 Anchor Investors at Anchor Investor Issue Price of Rs. 97/- per Equity Shares in accordance with the SEBI ICDR Regulations. The category wise details of the Basis of Allotment are as under:

7. Allocation to Market Maker (After Rejections & Withdrawal): The Basis of Allotment to Market Maker who have bid at Issue Price of Rs. 97/- per Equity Shares or above, was finalized in consultation with BSE. The category was subscribed by 1.000000 times i.e. for 188,400 Equity Shares. The total number of shares allotted in this category is 188,400 Equity Shares. The category wise details of the Basis of Allotment are as under:

The Board of Directors of the Company on August 4, 2026, has taken on record the Basis of Allotment of Equity Shares as approved by BSE Limited and has allotted the Equity Shares to various successful bidders. The Allotment Advices-cum-Intimations and/or notices have been forwarded to the email ids and/or address of the Applicants as registered by the depositories/as filled in the application form. Further, the instructions to Self-Certified Syndicate Banks for unblocking the funds & transfer to Public Issue Account have been issued on or before August 5, 2026 and payment to non-syndicate brokers has been issued on or before August 5, 2026. In case the same is not received within two working days, investors may contact at the address given below. The equity shares allotted to the successful allottees have been uploaded on August 5, 2026 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with BSE Limited on August 5, 2026. trading will commence on August 6, 2026..

The details of the allotment made would also be hosted on the website of the Registrar to the issue, Kfin Technologies Limited SEBI Registration Number: INR000000221 at www.kfintech.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicants, serial number of the Bid cum Application Form, number of shares applied for and Bank Branch where the application had been lodged and payment details at the Registrar as given below:

	KFIN TECHNOLOGIES LIMITED
	SEBI Registration Number: INR000000221
	Address: 301, The Centrium, 3rd Floor, 57, Lal Bahadur Shastri Road, Nav Pada, Kurla (West), Mumbai - 400 070, Maharashtra, India. Tel. Number: +91 40 6716 2222;
	Email Id: dhavalpack.ipo@kfintech.com; Investors Grievance Id: einward.ris@kfintech.com
	Website: www.kfintech.com; Contact Person: Mr. M Murali Krishna; CIN: L72400MH2017PLC444072

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF DHAVAL PACKAGING LIMITED.

Dhaval Packaging Limited is proposing, subject to market conditions, public issue of its equity shares and had filed the Prospectus with the Registrar of Companies, Ahmedabad. The Prospectus is available on the website of SEBI at www.sebi.gov.in, the website of the Book Running Lead Manager at www.rarever.in, the website of the BSE at www.bseindia.com and website of Issuer Company at www.dhavalpackaging.com. Investors should note that investment in equity Shares involves a high degree of risk. For details, investors shall refer to and rely on the Prospectus including the section titled "Risk Factors" beginning on page 22 of the Prospectus, which has been filled with ROC. The Equity Shares have not and will not be registered under the US Securities Act (the "Securities Act") or any state securities law in United States and may not be Issued or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in the Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act of 1933.