Knack Packaging IPO allotment status: Odds of getting shares, latest GMP & listing date

Knack Packaging is likely to finalize the basis of allotment of its shares on Monday, July 06. Applicant bidders will get the messages, alerts or emails for debit of their funds by Tuesday, July 07. The packaging solutions player received a solid response from the investors during the three day bidding period.

The IPO of Knack Packaging was open for bidding between July 01-03. It had offered its shares in the price band of Rs 161-170 per share with a lot size of 88 shares. The company eyed to raise a total of Rs 439 crore via IPO, which included a fresh share sale of Rs 380 and an offer-for-sale (OFS) of up to 35,00,000 equity shares worth Rs 60 crore.

The issue was overall subscribed a solid 83.33 times with more than 19.86 lakh applications, fetching bids for nearly Rs 26,865 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 154.34 times. The quotas for non-institutional investors (NIIs) and retail bidders were undersubscribed at 139.81 times and 20.07 times, respectively. Employee portion was booked 9.27 times.

The grey market premium (GMP) of Knack Packaging has tanked sharply despite the solid bidding and rebounded market sentiments. Last heard, it was commanding a discount of Rs 16-18 per share, suggesting a listing pop of nearly 10 per cent for the investors. It was commanding a GMP around Rs 28-30 apiece, on the last day of the bidding period. 

Based on the bidding, here are the odds of allotment for IPO of Knack Packaging:

• Big HNI category: 2 investor out of 67 investors will get 1,232 shares (Probability: 2.98 per cent)
• Small HNI category: 1 investor out of 108 investors will get 1,232 shares (Probability: 0.21 per cent)
• Retail category: 1 investor out of 17 investors will get 88 shares. (Probability: 5.88 per cent)

Incorporated in 2013, Ahmedabad-based Knack Packaging is an integrated packaging solutions provider focusing on innovation, exports and sustainability. It manufactures Printed and Laminated Woven Polypropylene (PLWPP) bags, including pinch bottom, gusset, block bottom, and retail shopping bags. 

Systematix Corporate Services, IDBI Capital Markets & Securities and Pantomath Capital Advisors are the book running lead managers for Knack Packaging IPO and MUFG Intime India is the registrar of the issue. Refund of the bidding amount shall be done on Tuesday, July 08. Shares of the company shall be listed on both BSE and NSE with March 11, Wednesday as the date of listing.

Investors, who had bid for the issue of Knack Packaging, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Knack Packaging Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button
• Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)
• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘KNACK’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

• Go to the web portal of MUFG Intime India Limited
• Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.