Knack Packaging opens IPO, seeking ₹439.5cr, subscription ends July 3
Business
Knack Packaging, a major maker of woven polypropylene bags, just opened its IPO for subscription. It runs until July 3.
The company aims to raise ₹439.5 crore, with shares priced at ₹161-170 each (minimum bid: 88 shares).
If you're curious about investing, this is their first public offer and it's getting some buzz.
Knack Packaging plans ₹320cr Gujarat plant
Shares will list on BSE and NSE on July 8, and there's already a 15% gray market premium, so demand looks strong.
Knack plans to use most of the funds (₹320 crore) for a new manufacturing plant in Gujarat.
With over 1,950 customers in 71 countries and big clients like KRBL and Cargill, brokerages like Choice Broking say it's worth considering for the long term thanks to solid growth plans and good financials.