Kahan Packaging IPO to open on September 6, issue price at Rs 80 per share

Kahan Packaging IPO to open on September 6

Kahan Packaging IPO will be opening for subscription on September 6. This would be the first public issue next week from the SME segment. It is a fixed-price issue. The issue price has been fixed at Rs 80 per share.

The bulk packaging solutions company intends to garner Rs 5.76 crore via an initial public offering (IPO) of 7.2 lakh shares.

The IPO comprises only a fresh issue portion. Hence, the entire issue proceeds will be utilised by the company mainly for working capital requirements and the remaining for general corporate purposes.

The offer will close on September 8.

The Mumbai-based company has reserved 40,000 equity shares of the total offer of 7.2 lakh shares and the remaining 6.8 lakh shares will be divided equally amongst retail investors and high networth individuals, i.e. 3.4 lakh shares each.

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Kahan Packaging, which makes polypropylene (PP) & high-density polyethylene (HDPE) woven fabric, provides customised bulk packaging solutions to business-to-business (B2B) manufacturers catering to agro pesticides, cement, chemical, fertilizer, and food products industries.

Hem Securities is the merchant banker, and Purva Sharegistry (India) is the registrar of the issue.

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