Boss Packaging Solutions made a strong debut on the stock market today, listing at ₹82.5 on the NSE SME platform, which is 25% higher than its IPO price of ₹66 per share.
The company’s ₹8.41 crore SME IPO was open for subscription from August 30 to September 3, 2024, with each share priced at ₹66.
The IPO received an overwhelming response, getting subscribed 136.21 times. Investors bid for 16.45 crore shares, while only 12.08 lakh shares were available. The retail segment was highly active, with subscriptions reaching 165.29 times, while the “others” category was subscribed 103.80 times.
About the IPO
The IPO for Boss Packaging Solutions Limited involved issuing 12.74 lakh new shares, raising a total of ₹8.41 crore. The funds from the IPO will be used to buy new machinery, meet working capital needs, and cover general business expenses to help the company grow and increase its production capacity.
Retail investors had to buy at least one lot of 2,000 shares, costing ₹1,32,000, while High Net-Worth Individuals (HNIs) needed to invest in at least two lots, or 4,000 shares, totaling ₹2,64,000.
Fedex Securities Pvt Ltd was the lead manager for the IPO, and Kfin Technologies Limited served as the registrar. B.N. Rathi Securities acted as the market maker to ensure there was enough trading liquidity for the stock after listing. This IPO is a major step for Boss Packaging Solutions to expand its business and strengthen its position in the market.
About Boss Packaging Solutions
Established in January 2012, Boss Packaging Solutions Limited specializes in making, supplying, and exporting a wide variety of packaging machinery. Their product lineup includes packaging, capping, and filling machines, as well as self-adhesive sticker labeling machines, conveyors, turntables, web sealers, and sleeve applicators, which are used in different industries for packaging needs.
The company provides a range of machines and complete packaging lines designed for sectors like edible oil, lubricants, chemicals, cosmetics, homecare, pharmaceuticals, viscous liquids, juices and dairy, agriculture and pesticides, food and ancillaries, cosmetics and toiletries, and distilleries and breweries.
Financially, Boss Packaging Solutions has shown steady growth. For the year ending March 31, 2024, the company’s revenue increased by 17.67% compared to the previous year. However, its profit after tax (PAT) only grew by 0.53%, suggesting that while the company has grown its sales significantly, its profitability has not seen a big boost.
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