Investors who participated in the Knack Packaging Initial Public Offering (IPO) are anticipating the finalization of share allotments, which is tentatively scheduled for Monday, July 6. Following the allotment, successful bidders are expected to receive notifications and debit alerts for their funds by Tuesday, July 7.
Knack Packaging IPO Sees Strong Investor Interest
The Ahmedabad-based integrated packaging solutions provider offered its shares in a price band of Rs 161 to Rs 170 per equity share. The IPO, which ran from July 1 to July 3, aimed to raise Rs 439 crore. This included a fresh issue of Rs 380 crore and an Offer For Sale (OFS) of 3.5 million equity shares valued at Rs 60 crore.
The issue garnered significant attention, with an overall subscription of 83.33 times. Over 19.86 lakh applications were received, amounting to bids worth approximately Rs 26,865 crore. Qualified Institutional Buyers (QIBs) led the charge, subscribing 154.34 times their allocated portion. Non-Institutional Investors (NIIs) saw their segment subscribed 139.81 times, while the retail portion was booked 20.07 times. The employee quota received bids for 9.27 times its offered shares.
Allotment Odds and Grey Market Premium
Given the high oversubscription rates, the odds of receiving an allotment varied across investor categories. For the retail category, approximately 1 in 17 applicants is expected to receive a lot of 88 shares. In the small HNI category, roughly 1 in 108 investors might secure 1,232 shares, and for big HNI investors, the probability was about 2 in 67 to receive 1,232 shares.
Despite the robust bidding, the Grey Market Premium (GMP) for Knack Packaging has reportedly seen a decline. Initially commanding a GMP of around Rs 28-30 per share on the last day of bidding, it has since fallen to a discount of Rs 16-18 per share. This suggests an expected listing gain of around 10 percent for investors, a moderated figure compared to initial expectations.
Checking Your Knack Packaging IPO Allotment Status
Investors can verify their allotment status through several official channels once the process is finalized. The company's shares are slated to be listed on both the BSE and NSE, with Wednesday, March 11, indicated as the listing date by the source.
On the BSE Website:
- Visit https://www.bseindia.com/investors/appli_check.aspx
- Select "Equity" under Issue Type.
- Choose "Knack Packaging Limited" from the Issue Name dropdown.
- Enter your Application Number and PAN ID.
- Complete the "I am not a Robot" captcha and click "Search".
On the NSE Website:
- Go to https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
- Select "Equity & SME IPO Bid details".
- Choose "KNACK" under "Select Symbol".
- Input your PAN Number and Application Number.
- Click "Submit".
Via the Registrar (MUFG Intime India):
- Navigate to the registrar's portal: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
- From the dropdown, select the Knack Packaging IPO (once allotment is finalized, the name will appear).
- Choose one of three modes for verification: Application number, Demat Account number, or PAN ID.
- Select "ASBA" or "non-ASBA" for application type.
- Enter the required details for your chosen mode.
- Fill in the captcha and click "Submit".
About Knack Packaging
Founded in 2013, Knack Packaging is an Ahmedabad-based company specializing in integrated packaging solutions. The firm focuses on innovation, exports, and sustainable practices. Its product portfolio includes Printed and Laminated Woven Polypropylene (PLWPP) bags, such as pinch bottom, gusset, block bottom, and retail shopping bags. Systematix Corporate Services, IDBI Capital Markets & Securities, and Pantomath Capital Advisors served as the book running lead managers for the IPO, with MUFG Intime India acting as the official registrar for the issue.