The initial public offering (IPO) of Boss Packaging Solutions Limited garnered overwhelming interest and robust subscriptions. With the bidding period now concluded, investors eagerly await the IPO allotment, which is expected to be finalised today.
The SME IPO, valued at ₹8.41 crore, opened for subscription on August 30 and closed on September 3. The price was set at ₹66 per share.
Investors can check the Boss Packaging Solutions IPO allotment status online through the official portal of the IPO registrar, Kfin Technologies.
The company will credit the equity shares on September 5 into the Demat accounts of investors who have received the allotment, while those whose applications have been rejected will get the refunds on the same day. Boss Packaging Solutions IPO will list on NSE SME with a tentative listing date fixed as Friday, September 6, 2024.
Investors can check their status online by following the steps below.
Step 1: Go to the IPO registrar website of Kfin Technologies – https://ris.kfintech.com/ipostatus/
Step 2: Select one link and then the Initial Public Offering (IPO) from the menu; the name will be assigned once the allocation is finished.
Step 3: To discover the current status, click on the PAN, demat account, or application number.
Step 4: Enter the required information, such as your application number, PAN (Permanent Account Number), or Demat Account number.
Step 5: Enter the ‘captcha’ to verify that you are not a robot.
Step 6: Click ‘submit’ after completing the captcha.
About the IPO
The Boss Packaging Solutions was a fresh issue of 12.74 lakh shares. The minimum lot size for an application was 2,000 shares, and the minimum investment required by retail investors was ₹1.32 lakh.
The IPO closed with overwhelming demand, with the SME issue being subscribed 136.21 times.
The IPO received bids for 16.45 crore shares against the 12.08 lakh shares on offer. Specifically, the subscription breakdown was notable across different segments: the retail investor segment saw a subscription of 165.29 times while the ‘others’ category was booked 103.80 times.
The company plans to allocate the net proceeds from the issue to several key objectives, including purchasing machinery, funding its working capital requirements, and covering general corporate purposes.
Fedex Securities Pvt Ltd is the book-running lead manager of the Boss Packaging Solutions IPO, while Kfin Technologies Limited is the registrar. B.N. Rathi Securities is the market maker for the Boss Packaging Solutions IPO.
Review
“The company has posted growth in its top lines for the reported periods but marked static bottom line for the last two fiscals. A small post-IPO equity base indicates a longer gestation period for migration. Though the company is operating in a highly competitive and fragmented segment of packaging and sticker machines, considering current fancy for the segment, well-informed investors may park moderate funds for the long term,” said Dilip Davda, Contributing Editor at Chittorgarh.com.
About the Company
Established in January 2012, Boss Packaging Solutions Limited specializes in the manufacturing, supplying, and exporting a wide range of packaging, capping, and filling machines. Their product lineup includes self-adhesive sticker labelling machines, conveyors, turntables, web sealers, and sleeve applicators. The company offers comprehensive packaging solutions, including labelling, packing, filling, sealing machines, and full packaging lines, catering to industries such as edible oil, lubricants, chemicals, cosmetics, pharmaceuticals, and more.
Between the financial years ending March 31, 2023, and March 31, 2024, Boss Packaging Solutions saw a 17.67 per cent increase in revenue, while profit after tax (PAT) grew by 0.53 per cent.
Boss Packaging Solutions IPO GMP today
Its IPO GMP or grey market premium today, is ₹12 per share, indicating an expected listing price of ₹78, a premium of 18.18 percent from its issue price of ₹66. The GMP has been the same since the previous session, September 3, but jumped from ₹0 on September 2.
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