Boss Packaging Solutions lists at 25% premium over IPO price on NSE SME

The company plans to use the net proceeds from the issue for several purposes, including the purchase of machinery, funding working capital requirements, and general corporate purposes.

Boss Packaging Solutions shares were off to a good start on its stock exchange debut on September 6 after listing at Rs 82.5, a premium of 25 percent over the issue price of Rs 66 on the NSE SME platform.

The listing gains have beaten grey market estimates where shares were trading at a premium of about 8 percent. The grey market is an unofficial ecosystem where shares start trading much before the offer opens for subscription and continue to trade till the listing day.

Follow our LIVE blog for all the latest updates

The Rs 8.41-crore public offer was massively subscribed over its three-day subscription period after the public offer was bought a staggering 135 times, translating to bids worth Rs 1,073 crore. Retail investors bought 163 times their allotted quota while non-institutional investors purchased 103.64 times the portion reserved for them.

Also read: Prestige Estates stock in focus as realtor raises Rs 5,000 crore via QIP; CLSA raises target price

Founded in 2012, the company is engaged in manufacturing, supplying, and exporting a diverse range of packaging, capping, and filling machines. Its offerings also include self-adhesive sticker labeling machines, conveyors, turntables, web sealers, and sleeve applicators.

Read more: Buffett's Berkshire offloads more shares in Bank of America

The Ahmedabad-based company, which operates out of a small 500-square yards facility, has seen a sharp rise in net debt. The official documents show that its net rose 82 percent to Rs 3.06 crore in 2023 from 1.64 crore in the previous year.

The company plans to use the net proceeds from the issue for several purposes, including the purchase of machinery, funding working capital requirements, and general corporate purposes.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.