Boss Packaging Solutions SME IPO: Details on ₹8.41 Crore Issue, Price Band, and GMP as Subscription Opens Today

Boss Packaging Solutions has launched its SME Initial Public Offering (IPO), which opened for subscription today and will close on September 3. The company aims to raise approximately ₹8.41 crore through this public offering and plans to list the shares on the NSE SME platform.

IPO Size

The IPO is entirely a fresh issue of 12.74 lakh equity shares, aiming to raise ₹8.41 crore. The shares are being offered at ₹66 each. Investors can bid for a minimum of 2,000 shares in one lot.

GMP (Grey Market Premium)

As of the IPO opening, there is no Grey Market Premium (GMP) reported for Boss Packaging Solutions’ shares.

About the Company

Boss Packaging Solutions manufactures, supplies, and exports a wide range of packaging machines, including self-adhesive sticker labelling machines, conveyors, turntables, web sealers, and electric tunnels.

Industry Overview

The Indian manufacturing industry, contributing 16-17% to India’s GDP before the pandemic, is expected to be one of the fastest-growing sectors. The machine tool industry plays a crucial role in this growth.

Financial Performance

For the financial year ending March 2024, Boss Packaging Solutions reported total revenue of ₹12.17 crore and a net profit of ₹1.01 crore. The funds raised will be used for purchasing new machinery, meeting working capital requirements, and covering general corporate expenses.

Fedex Securities is the lead manager for the IPO, and Kfin Technologies is the registrar.

Issue Structure

The IPO has been structured to reserve 50% of the shares for retail investors and the remaining 50% for other investors.

Important Dates

• IPO Opening Date: August 30
• IPO Closing Date: September 3
• Final Allotment Date: September 4
• Expected Listing Date: September 6