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Anand Rathi Report
Knack Packaging Ltd. lauched its Iinitial public offering (IPO) on July 1 and will conclude on July 03. The Gujarat-based manufacturer of printed and laminated woven polypropylene (PLWPP) bags and PLWPP pinch bottom bags has fixed the price band in the range of Rs 161 to Rs 170 per share, valuing the company at about Rs 2,080 crore at the upper end of the band.
The Rs 439.5 crore IPO consists of a fresh issue of equity shares worth up to Rs 380 crore and an offer for sale of up to 35 lakh equity shares, valued at about Rs 59.5 crore, by existing shareholders.
Systematix Corporate Services Ltd., IDBI Capital Markets & Securities Ltd., Pantomath Capital Advisors Pvt. Ltd. are the book-running lead managers for the public issue while MUFG Intime India Private Ltd. is the registrar to the offer.
The allotment for the Knack Packaging IPO is expected to be finalized on July 06.
The shares will be listed on both the National Stock Exchange and the BSE on July 08.
Objects of the Issue:
- Partial funding of capital expenditure towards setting up of new manufacturing facility at Borisana situated at Gujarat (‘Project Site').
- General corporate purposes.
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ALSO READ: Knack Packaging IPO Opens Today For Subscription: 10 Key Things To Know Before You Subscribe
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