Boss Packaging Solutions IPO Day 3: Issue subscribed 54.23 times so far, retail investors lead; check key details

Boss Packaging Solutions IPO has received a robust response from investors. On Tuesday, the final day of subscription, the issue was subscribed 54.23 times.

The part set aside for non-institutional investors (NIIs) was subscribed 18.78 times, while the retail investors category was booked 89.68 times.

The initial public offering, which opened for subscription on August 30, will conclude on September 3. It is a fixed price issue at ₹66 per share.

The ₹8.41 crore IPO of packaging machines manufacturer is entirely a fresh issuance of 12.74 lakh equity shares without any offer-for-sale (OFS) component.

The money raised from the issue will be used to buy machinery and fund working capital requirements. A portion will also be used for general corporate purposes.

Retail investors can place bids for a minimum of 2,000 equity shares or one lot worth ₹1.32 lakh. High-net-worth individuals (HNIs) can bid for at least two lots, taking transaction value to ₹2.64 lakh.

Fedex Securities Private Limited is the book-running lead manager to the IPO.

About Boss Packaging Solutions

Boss Packaging Solutions, established in 2012, manufactures and supplies machines for packaging, capping, and filling. It also provides self-adhesive sticker labelling machines, conveyors, turntables, web sealers and sleeve applicators.

Its product portfolio includes honey packaging, automatic liquid packaging, flavoured milk packaging, cream/lotion packaging, paint packaging, pesticides and chemicals packaging, sanitiser packaging, syrup packaging, edible oil packaging, sauce packaging, and lubricant oil packaging.

The Ahmedabad-based company reported revenue from operations of ₹12.1 crore in the financial year 2023-24 (FY24) and a net profit of ₹1.01 crore.