NSE has notified the listing of equity shares of RFBL Flexi Pack Limited (Symbol: RFBL) on the NSE EMERGE SME Platform effective May 19, 2026. The shares will be admitted to dealings in the Trade for Trade Surveillance Segment (TFTS) under Series ‘ST’ with Settlement Type ‘W’, and will subsequently be shifted to Series ‘SM’ (Normal Rolling Segment) as per SEBI guidelines.

Key Points

• Symbol: RFBL; ISIN: INE0V2V01015
• Listed on NSE EMERGE SME Platform under Series ‘ST’ (Trade for Trade Surveillance Segment – Settlement Type ‘W’)
• Issue price: Rs. 50/- per share; Face value: Rs. 10/-
• Total securities listed: 2,33,15,000 equity shares
• Market lot and Market Maker Minimum Quantity: 3,000 equity shares
• Market Maker Maximum Permissible Spread: within 10%
• Market Maker: MNM Stock Broking Private Limited, Ahmedabad
• Registrar & Transfer Agent: Kfin Technologies Limited, Hyderabad
• Security will be part of pre-open session for IPO and Other category scrips
• Continuous market trading applicable as per Exchange Circular NSE/CMTR/37202 dated March 14, 2018

Regulatory Changes

No new regulatory changes introduced. Listing is in pursuance of Regulation 3.1.1 and Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A. The shift from Series ‘ST’ to Series ‘SM’ will follow SEBI circular nos. CIR/MRD/DP/01/2012 and CIR/MRD/DP/02/2012 dated January 20, 2012.

Compliance Requirements

• Members must identify the security only by its designated codes for trading purposes
• Trading must be conducted in the specified lot sizes (3,000 equity shares)
• Members to note pre-open session applicability for IPO category scrips
• Lock-in restrictions apply to specified tranches of shares as per Annexure I

Important Dates

• Effective date of listing: May 19, 2026
• Lock-in schedules:
  • 46,70,000 shares locked in until May 24, 2029
  • 57,91,000 shares locked in until May 24, 2028
  • 57,89,000 shares locked in until May 24, 2027
  • 70,65,000 shares are free (no lock-in)

Impact Assessment

This is a standard SME IPO listing on the NSE EMERGE platform. The listing of RFBL Flexi Pack Limited at Rs. 50/- per share with a total of 2,33,15,000 shares represents a small-cap market entry. The Trade for Trade segment placement limits speculative activity initially, reducing volatility risk. The 10% spread cap on market makers and mandatory lot size of 3,000 shares are consistent with SME platform norms. Impact is limited to participants in the SME/EMERGE segment and investors in this specific IPO.