The initial public offering of Knack Packaging Ltd is open for subscription and got fully subscribed on the first day of bidding on Tuesday. According to data from the National Stock Exchange (NSE), the IPO received bids for 4,92,00,448 shares against 1,89,64,018 shares on offer. The non-institutional investor quota was subscribed 4.89 times. The retail portion was booked 1.30 times, while the Qualified Institutional Buyers (QIBs) category was subscribed 3.15 per cent.
The Rs 439.5-crore mainboard issue will conclude on July 3. The company has fixed a price band of Rs 161-170 per equity share for the IPO.
Knack Packaging IPO GMP
According to Investorgain, Knack Packaging’s unlisted shares are trading at a grey market premium (GMP) of Rs 27. Considering the upper price band of Rs 170, the company’s shares are expected to list at around Rs 197, reflecting a grey market premium of 15.88 per cent.
Knack Packaging IPO Listing Date
The company’s shares are proposed for listing on both the BSE and the NSE. The expected date of listing is July 8, 2026.
Raises Rs 131 crore from anchor investors
Meanwhile, the company raised Rs 131.25 crore from anchor investors ahead of the opening of its initial public offering (IPO). The company allotted 77.20 lakh equity shares to anchor investors at Rs 170 apiece, the upper end of the IPO price range of Rs 161-170 per share, according to a circular uploaded on the BSE’s website.
Axis Opportunities AIF Series II emerged as the largest anchor investor, receiving 23.53 lakh equity shares, accounting for 30.48 per cent of the anchor investor portion, for Rs 40 crore.
How the company plans to use the proceeds?
Proceeds from the fresh issue will be utilised to set up a new manufacturing facility at Borisana, Kadi, in Gujarat’s Mehsana district, while the remaining funds will be used for general corporate purposes.
What does the company do?
Headquartered in Ahmedabad, Knack Packaging is an integrated, innovation-driven and export-oriented packaging solutions provider. It manufactures customised Printed and Laminated Woven Polypropylene (PLWPP) bags and PLWPP pinch bottom bags, catering to sectors including food products and pet foods.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
