Knack Packaging's initial public offering (IPO), which opened on July 1 and closes on July 3, has been subscribed 8.98 times as of day two, according to livemint.com. The company raised ₹131.25 crore from anchor investors ahead of the public issue. The IPO price band is set between ₹161 and ₹170 per equity share, with the listing expected on July 8.
The IPO includes allocations for qualified institutional buyers (QIBs), non-institutional investors (NIIs), and retail investors. The strong subscription rate reflects robust investor interest in the packaging solutions provider. The company’s anchor investor funding was secured prior to the public subscription, providing a foundation for the offering’s momentum, livemint.com reported.
The packaging sector has seen increased investor attention recently, with companies leveraging demand growth in consumer goods and e-commerce. Knack Packaging’s IPO subscription rate compares favorably with recent listings in the segment, highlighting market confidence in its business model and growth prospects. The ₹131.25 crore anchor investment underscores institutional backing ahead of the public offering.
The IPO subscription period closes on July 3, with the shares scheduled to list on the stock exchanges on July 8, according to livemint.com. Investors will be able to track the final subscription figures and listing performance following the close of the issue.