Bharat PET Files for Rs 760 Crore IPO
Analysis based on 7 articles · First reported Mar 25, 2026 · Last updated Mar 26, 2026
The IPO of Petroleum is expected to generate significant interest in the Indian packaging sector, potentially leading to increased investment and competition. The funds raised will allow Petroleum to strengthen its balance sheet and expand operations, which could positively impact its market share and profitability.
Petroleum, an integrated packaging solutions provider, has filed its draft red herring prospectus with the India — Securities and Exchange Board of India for an initial public offering of up to Rs 760 crore. The IPO includes a fresh issue of Rs 120 crore and an offer for sale of Rs 640 crore by promoter shareholders, including Deepak Gupta, Ankur Gupta, and Rahul Gupta. The company may also consider a pre-IPO placement of up to Rs 24 crore. Proceeds from the fresh issue will be used to repay Rs 50 crore in borrowings, fund Rs 35.8 crore in capital expenditure for machinery and equipment, and cover general corporate purposes. Petroleum, founded in 1998, specializes in PET bottles, jars, preforms, and other packaging products, primarily serving the agrochemical industry where it holds an 11% market share in India. The company operates four manufacturing facilities and serves over 1,500 customers, including Godrej Consumer Products, Dhanuka Agritech, and PI Industries. Equirus Capital and Ambit Private Limited are the book running lead managers, with KFin Technologies as the registrar. Shares will be listed on JSE Limited and National Stock Exchange of India.
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