Boss Packaging Solutions IPO Day 1: NSE SME issue booked 2 times on strong retail demand

Boss Packaging Solutions IPO subscription began on a decent note as the issue was subscribed 2.12 times on Day 1. The packaging, capping and filling machines manufacturer received bids for more than 25.68 lakh shares against 12.08 lakh shares on offer.

The strong subscription demand for the IPO was led by retail investors who booked their allocation over 3 times. Retail investors placed bids for over 18.26 lakh shares against 6.04 lakh shares reserved for the category.

The issue was subscribed 1.22 times in the Non-Institutional Investors (NIIs) category with applications for 7.42 lakh shares against 6.04 lakh shares set aside for the segment.

Boss Packaging Solutions did not receive bids from Qualified Institutional Buyers (QIBs) on Day 1.

Boss Packaging Solutions IPO offer size, price band and minimum investment

Boss Packaging Solutions IPO is a ₹8.41 crore book-building issue consisting solely of a fresh issue of 12.47 lakh shares at ₹66 apiece.

The minimum lot size for an application in Boss Packaging Solutions IPO is 2,000 shares, resulting in an investment of ₹1,32,000 from retail investors.

For Non-Institutional Investors (NIIs), the minimum investment is 2 lots or 4,000 shares, aggregating an investment of ₹2,64,000.

Boss Packaging Solutions IPO dates

Boss Packaging Solutions Limited IPO subscription window is open from August 30 to September 3. The IPO allotment status is likely to be finalised on September 4.

Refunds will be initiated for non-allottees on September 5. Credit of shares into the demat accounts of successful bidders will also be done on the same day.

Shares of Boss Packaging Solutions Limited are likely to be listed on the NSE SME platform, Emerge, on Friday, September 6.

Boss Packaging Solutions IPO registrar

The registrar of the Boss Packaging Solutions IPO is Kfin Technology Limited whereas Fedex Securities Private Limited is the book-running lead manager.

The market Maker for Boss Packaging Solutions IPO is B.N. Rathi Securities.

Boss Packaging Solutions IPO objective

Boss Packaging Solutions intends to use the funds from the offering to meet a variety of financial needs. This includes the purchase of machinery, meeting working capital requirements and offering expenses.

About Boss Packaging Solutions Limited

Boss Packaging Solutions Limited, founded in January 2012, manufactures, supplies, and exports a variety of packaging, capping, and filling machines.

Their product line includes self-adhesive sticker labelling equipment, conveyors, turntables, web sealers, and sleeve applicators for industries such as edible oil, lubricants, chemicals, cosmetics, pharmaceuticals, food, agriculture, and distilleries.