Market Debut: Boss Packaging Solution lists at ₹82.5 on NSE SME, a premium of 25% from IPO price of ₹66

Boss Packaging Solutions IPO listing: Shares of Boss Packaging Solution made a strong debut on the bourses today. It listed at ₹82.5 on NSE SME, a premium of 25 percent from its IPO price of ₹66.

The ₹8.41 crore SME initial public offering (IPO) was open for subscription from August 30, 2024, to September 3, 2024, with a price set at ₹66 per share.

During the 3 days of bidding the IPO received overwhelming subscription and was bid 136.21 times overall. The issue received bids for 16.45 crore equity shares against 12.08 lakh shares on offer. The retail category saw a subscription of 165.29 times, while 'others' quota was subscribed 103.80 times.

About the IPO

Boss Packaging Solutions Limited's IPO featured a fresh issuance of 12.74 lakh shares, generating ₹8.41 crore in total. The primary objectives of the IPO were to fund the purchase of new machinery, meet working capital needs, and cover general corporate expenses, enabling the company to expand its operations and improve its production capabilities.

Retail investors interested in participating were required to apply for a minimum lot size of 2,000 shares, amounting to ₹1,32,000. High Net-Worth Individuals (HNIs) had a higher entry point, needing to invest in at least two lots, or 4,000 shares, with a total investment of ₹2,64,000.

The IPO was managed by Fedex Securities Pvt Ltd, serving as the book-running lead manager, while Kfin Technologies Limited acted as the registrar for the issue. Additionally, B.N. Rathi Securities played the role of the market maker, ensuring liquidity for the shares post-listing. This IPO marks a significant step for Boss Packaging Solutions as it seeks to scale its operations and enhance its market presence.

About the firm

Boss Packaging Solutions Limited, incorporated in January 2012, is engaged in the manufacturing, supply, and export of a wide range of packaging machinery. The company's product offerings include packaging, capping, and filling machines, as well as self-adhesive sticker labeling machines, conveyors, turntables, web sealers, and sleeve applicators. These machines cater to diverse industrial needs, providing comprehensive packaging solutions.

Their portfolio encompasses labeling, packing, filling, sealing machines, and accessories, along with complete packaging lines tailored for various industries. The company's products are essential for sectors such as edible oil, lubricants, chemicals, cosmetics, homecare, pharmaceuticals, viscous liquids, juices and dairy, agriculture and pesticides, food and ancillaries, cosmetics and toiletries, as well as distilleries and breweries.

In terms of financial performance, Boss Packaging Solutions Limited has demonstrated steady growth. For the fiscal year ending March 31, 2024, the company’s revenue saw a significant increase of 17.67 percent compared to the previous year. However, profit after tax (PAT) rose more modestly, by 0.53 percent, indicating that while the company has successfully expanded its top line, profitability growth has remained relatively flat.