Knack Packaging share price makes strong debut, lists with over 10% premium at ₹188 on NSE

Knack Packaging IPO listing: The shares of Knack Packaging made a strong listing in the Indian stock market on Wednesday, 8 July. Knack Packaging share price listed at a 10.59% premium over the IPO price of ₹170.

Knack Packaging share price opened at ₹188 on NSE and ₹186 on BSE (premium of 9.41%). This means that the IPO allottees made a gain of over 10% on the Knack Packaging IPO listing.

The listing of the Knack Packaging IPO exceeded market expectations. The GMP of Knack Packaging IPO was ₹9, signalling an estimated listing price of ₹179, which is 5.29% higher than the IPO price.

Knack Packaging IPO details

The Knack Packaging IPO was open for subscription from July 1 to July 3, with the basis of allotment finalised on July 6. The company's shares are scheduled to debut on the BSE and NSE on July 8.

The company offered its shares in a price band of ₹161–170 apiece and raised ₹439.5 crore through the public issue. The IPO comprised a fresh issue of 2.24 crore equity shares worth ₹380 crore and an offer-for-sale (OFS) of 35 lakh shares aggregating ₹59.5 crore.

The public issue received a strong response, with an overall subscription of 83.33 times, according to NSE data. The retail individual investor (RII) quota was subscribed 20.07 times, while the non-institutional investor (NII) portion was booked 139.81 times. The qualified institutional buyers (QIB) segment attracted the highest demand, garnering 154.34 times subscription.

Systematix Corporate Services Ltd. acted as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. served as the registrar to the IPO.

Knack Packaging is an integrated packaging solutions provider focused on innovation, exports, and sustainable manufacturing practices.

The company manufactures a wide range of printed and laminated woven polypropylene (LWWPP) bags, including pinch-bottom, gusseted, block-bottom, and retail shopping bags. Its durable packaging solutions serve customers across multiple industries, including food, pet food, agriculture, fertilisers, construction materials, detergents, cement, chemicals, minerals, and other industrial segments.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.