The Knack Packaging IPO closes for subscription today, July 3, after witnessing strong investor demand during the bidding period. The ₹439.50 crore mainboard IPO has already been subscribed more than 7 times, while its Grey Market Premium (GMP) has strengthened further, indicating the possibility of healthy listing gains.
Here's everything investors need to know about the IPO, including the latest GMP, subscription status, price band, allotment schedule, and listing date.
Knack Packaging IPO Subscription Status
The public issue, which opened on July 1, received an enthusiastic response from investors.
By the end of the second day:
Total subscription: Over 7 times
Shares offered: 1,89,64,018
Bids received: 13,68,24,424 shares
The strong subscription reflects robust demand across investor categories ahead of the issue's closing.
Knack Packaging IPO GMP Today
The Grey Market Premium (GMP) remains positive.
According to market sources:
Latest GMP: ₹28 per share
Upper price band: ₹170
Estimated listing price: Around ₹198 per share
Expected listing premium: Approximately 16.47%
Investors should note that GMP is an unofficial market indicator and does not guarantee actual listing performance.
Knack Packaging IPO Price Band and Lot Size
The company has fixed the IPO price band at:
₹161–₹170 per share
Retail investors can apply for:
Minimum lot size: 88 shares
Minimum investment: ₹14,960 (at the upper price band)
The IPO comprises:
Fresh Issue: 2.24 crore shares worth ₹380 crore
Offer for Sale (OFS): 35 lakh shares worth ₹59.50 crore
The total issue size stands at ₹439.50 crore.
How Will Knack Packaging Use the IPO Proceeds?
The company plans to utilize the funds raised through the fresh issue primarily to expand its manufacturing capacity.
The proceeds will be used for:
Setting up a new manufacturing facility at Borisana, Kadi, Mehsana district, Gujarat
General corporate purposes
About Knack Packaging
Founded in 1993, Gujarat-based Knack Packaging is an integrated industrial packaging solutions provider.
The company manufactures products including:
BOPP laminated PP woven bags
Pinch-bottom bags
Woven sacks
Its packaging solutions are widely used across industries for products such as:
Rice
Cement
Pet food
Agricultural products
Consumer goods
Lead Managers
The book-running lead managers for the IPO are:
Systematix Corporate Services Limited
IDBI Capital Markets & Securities Limited
Pantomath Capital Advisors Private Limited
Knack Packaging IPO Allotment and Listing Date
According to the IPO schedule:
IPO Closing Date: July 3
Expected Allotment Date: July 6
Tentative Listing Date: July 8
Listing Exchanges: NSE and BSE
Should Investors Watch the GMP?
The rising Grey Market Premium and strong subscription indicate positive market sentiment towards the issue. However, investors should remember that GMP is based on unofficial market activity and may fluctuate before listing. Investment decisions should be based on the company's fundamentals, valuation, financial performance, and individual risk appetite rather than GMP alone.
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