Knack Packaging IPO Allotment Expected Today with 11% GMP: Here’s How to Check Your Status!

The Knack Packaging IPO, with a public issue size of ₹439.5 crore, is witnessing a pivotal moment as the basis of allotment is set to be finalized today. Investors will have the opportunity to determine whether they have successfully secured shares in what has been a heavily subscribed issue. The company’s shares are expected to make their debut on the BSE and NSE on July 8, following a subscription phase that attracted immense interest from investors between July 1 and July 3. The price band for the IPO was established at ₹161-170 per share, requiring potential investors to bid for a minimum of 88 shares.

Demonstrating strong market demand, the IPO garnered bids amounting to an impressive 83.33 times the shares offered. Notably, Qualified Institutional Buyers (QIBs) led the charge, subscribing 154.34 times their allotted quota, while Non-Institutional Investors (NIIs) and Retail Investors followed suit at 139.81 times and 20.07 times, respectively. The grey market premium (GMP) currently stands at around 11%, indicating positive sentiment around the listing and expectations of a modest gain on the first day of trading. This enthusiasm reflects investors’ confidence in Knack Packaging’s growth potential as an established player in the packaging industry.

For Indian investors, this IPO presents a compelling opportunity to engage with a company that holds a strong market position in India’s flexible bulk PLWPP bags segment, accounting for about 10.1% of the market share. Knack Packaging has a robust export portfolio, serving over 1,950 customers globally, including well-known names like Cargill and KRBL. The keen interest observed during the subscription period, coupled with the favorable grey market sentiment, suggests that investors may be looking at a promising investment proposition. As the stock market debut approaches, stakeholders are advised to stay informed about the allotment results and subsequent performance of the shares post-listing.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)