RFBL Flexi Pack is raising Rs. 35.33 crore at a price band of Rs. 47-50, while revenue jumped nearly 69% year-on-year to Rs. 135.46 crore in FY25.
Goldline Pharmaceutical’s Rs. 12 crore IPO is priced at Rs. 41-43 per share, with the company reporting FY25 EBITDA margin of 20.79%.
Simca Advertising’s Rs. 58.04 crore IPO closes on May 12, with FY25 revenue rising to Rs. 75.09 crore and ROCE standing at a strong 76.57%.
India’s SME IPO market is buzzing this week with three companies from different sectors opening public issues. RFBL Flexi Pack, Goldline Pharmaceutical, and Simca Advertising are looking to raise fresh capital through book-built IPOs listed on the NSE SME and BSE SME platforms.
The three IPOs differ widely in business models, issue sizes, and financial strength. For investors looking to diversify their portfolios, these IPOs offer exposure to the packaging, healthcare, and advertising sectors. These IPOs are especially appealing to retail and institutional bidders who are looking for high-growth opportunities in smaller-cap stocks.
Below is a quick comparison between the three IPOs, including details like IPO dates, price bands, allotment timelines, and more.
| Feature | RFBL Flexi Pack | Goldline Pharma | Simca Advertising |
|---|---|---|---|
| Close Date | May 14, 2026 | May 14, 2026 | May 12, 2026 |
| Price Band | Rs. 47 - Rs. 50 | Rs. 41 - Rs. 43 | Rs. 174 - Rs. 183 |
| Lot Size | 6,000 Shares | 6,000 Shares | 1,200 Shares |
| Min. Investment | Rs. 3,00,000 | Rs. 2,58,000 | Rs. 2,19,600 |
| Listing Date | May 19, 2026 | May 19, 2026 | May 15, 2026 |
Here is a detailed look at the other key details investors should know before applying.
RFBL Flexi Pack IPO opened for subscription on May 12 and will close on May 14, 2026. The company plans to raise around Rs. 35.33 crore entirely through a fresh issue. The stock will list on the NSE SME platform on May 19. The allotment is expected to be finalised on May 15, while refunds and demat credit are scheduled for May 18.
RFBL Flexi Pack manufactures flexible packaging products like plastic film rolls and pouches used in industries including food, pharma, and home care. The company also trades woven fabric packaging material and laminated films. Its manufacturing unit is located in Himatnagar, Gujarat.
The company reported strong financial growth over the last two years. Revenue increased from Rs. 79.96 crore in FY24 to Rs. 135.46 crore in FY25. Net profit also rose from Rs. 5.79 crore to Rs. 8.33 crore during the same period. The company posted a return on equity (ROE) of 60.18% and an EBITDA margin of 9.28%.
The IPO proceeds will mainly be used for capital expenditure worth Rs. 12.41 crore and working capital needs of Rs. 17.76 crore. Promoters Kunjit Maheshbhai Patel and Roopyaa Tradebizz Limited held 100% stake before the issue.
Goldline Pharmaceutical's IPO also opened on May 12; it closes on May 14. The company aims to raise around Rs. 12 crore through a fresh issue. The stock will list on the BSE SME platform on May 19. The allotment date is May 15.
The company markets pharmaceutical products under the Goldline brand and operates in multiple therapeutic areas, including cardiology, orthopaedics, paediatrics, neurology, gastroenterology, and wellness therapies. Its products are sold in Maharashtra, Rajasthan, Tamil Nadu, Bihar, Odisha, and Madhya Pradesh.
Goldline Pharmaceutical posted revenue of Rs. 28.06 crore in FY25 compared to Rs. 23.57 crore in FY24. Profit after tax increased from Rs. 1.81 crore to Rs. 2.83 crore. The company reported an EBITDA margin of 20.79% and ROCE of 38.46%.
The company plans to use Rs. 8.90 crore from the IPO proceeds to repay or prepay borrowings. The IPO includes a 27.11% anchor investor allocation and a 33.33% retail quota. Promoters Amol Laxmikant Mujumdar and Swapan Premprakash Khandelwal currently hold nearly a 79.70% stake in the company before the issue.
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Simca Advertising IPO, which opened on May 8, will close on May 12. The company is raising around Rs. 58.04 crore through a fresh issue. The stock is scheduled to list on NSE SME on May 15. The basis of allotment will be finalised on May 13.
Simca Advertising provides out-of-home advertising solutions in Mumbai and Maharashtra. Its services include hoardings, bus shelters, kiosks, gantries, utility ads, and LED display campaigns. The company currently manages around 100 outdoor advertising locations.
Financially, Simca Advertising showed strong growth in FY25. Revenue increased to Rs. 75.09 crore from Rs. 49.31 crore in FY24, while net profit rose from Rs. 5.78 crore to Rs. 9.98 crore. The company reported an ROCE of 76.57% and a PAT margin of 13.31%.
The IPO proceeds will be used for LED screen installations, strategic advertising partnerships, and working capital requirements. The IPO review is ‘Neutral,’ despite strong growth numbers amid valuation concerns and the competitive nature of the outdoor advertising business.
Once the bidding closes, the next step is checking if you were successful in getting shares. For Simca Advertising, you can check the status on May 13, while for RFBL and Goldline, the date is May 15. You will need your PAN card number or your Application Number. Simply visit the website of the official registrar for each IPO and enter your details in the ‘IPO Allotment Status’ section. Most investors also receive an SMS or email notification from the exchange once the process is complete.
All three SME IPOs come from different sectors, giving investors varied options based on risk appetite and sector preference. Remember, SME IPOs usually come with higher risk and lower liquidity than mainboard stocks. So, it is wise to hold these stocks for the long term rather than looking for quick gains on the listing day.
Reviewing the debt-to-equity ratios and sector peers is a smart move before hitting the ‘apply’ button. For instance, Simca Advertising has a high Return on Equity (ROE) of 57.44%, while RFBL Flexi Pack leads in total revenue volume. Keeping an eye on the allotment dates is also important to manage your funds for future market opportunities.
Investors should closely track subscription demand, GMP trends, financial consistency, and liquidity risks before applying for the above IPOs.
Also Read: Best Small Cap Funds in India for Long-Term Wealth Creation (May 2026)
1. What is the price band of RFBL Flexi Pack IPO?
The RFBL Flexi Pack IPO price band is fixed at Rs. 47 to Rs. 50 per share. Investors need to apply for a minimum lot of 6,000 shares, which takes the minimum investment amount to around Rs. 3 lakh. The IPO opened on May 12, 2026, and closed on May 14, 2026. The company plans to raise Rs. 35.33 crore through a fresh issue.
2. When will Simca Advertising IPO list?
Simca Advertising IPO is scheduled to list on the NSE SME platform on May 15, 2026. The IPO opened on May 8 and closes on May 12. The allotment process is expected to be completed on May 13, while shares will be credited to demat accounts on May 14. Investors are closely watching the IPO because of the company’s strong revenue and profit growth.
3. When did Goldline Pharmaceutical's IPO opens?
Goldline Pharmaceutical IPO opened for subscription on May 12, 2026, and will close on May 14, 2026. The company is raising nearly Rs. 12 crore through a fresh issue. The allotment date is May 15, while the IPO is expected to list on the BSE SME platform on May 19. The IPO has attracted attention because of the company’s growing pharma business across several Indian states.
4. What is the latest IPO news?
The latest IPO news focuses on three SME public issues currently open to investors. RFBL Flexi Pack, Goldline Pharmaceutical, and Simca Advertising are all raising funds through SME IPOs this week. These companies operate in packaging, pharmaceuticals, and outdoor advertising. Investors are tracking subscription numbers, GMP trends, listing timelines, and company financials before placing bids.
5. Are SME IPOs good investments for retail investors?
SME IPOs can offer high growth opportunities, but they also carry higher risk than mainboard IPOs. These stocks usually have lower liquidity and can see sharp price movement after listing. Investors should study company revenue growth, profit trends, debt levels, and valuation before investing. SME IPOs may suit long-term investors who are comfortable with higher risk and smaller companies.