Boss Packaging Solutions IPO: Public Offer Subscribes Over 2 Times; QIB With No Bids On The Issue

The Boss Packaging Solutions initial public offering (IPO) subscription started off fairly well, with 2.12 subscriptions on Day 1. In contrast to the 12.08 lakh shares that were on offer, the manufacturer of filling, capping, and packaging machines received bids for over 25.68 lakh shares.

Retail investors led the strong IPO subscription demand, booking their allocation more than three times over. Over 18.26 lakh shares, out of the 6.04 lakh shares reserved for the category, were bid on by retail investors.

The Non-Institutional Investors (NIIs) category received 1.22 subscriptions for the issue, with applications for 7.42 lakh shares submitted against the 6.04 lakh shares reserved for the segment.

On the first day of business, Qualified Institutional Buyers (QIBs) did not submit any bids to Boss Packaging Solutions.

Total issue size and price band

The Boss Packaging Solutions initial public offering (IPO) is a Rs 8.41 crore book-building offering that consists only of a new issuance of 12,47 lakh shares at Rs 66 each.

Retail investors must invest Rs 1,32,000 in order to participate in the Boss Packaging Solutions IPO, as the minimum lot size is 2,000 shares.

The minimum investment for non-institutional investors (NIIs) is 4,000 shares, or two lots, for a total investment of Rs 2,64,000.

Subscription timetable

The subscription period for the IPO of Boss Packaging Solutions Limited is open from August 30 to September 3. On September 4, the IPO allotment status is probably going to be finalized.

On September 5, refunds for those who were not allotted will begin. The same day, shares will also be credited to the winning bidders' demat accounts.

On Friday, September 6, Boss Packaging Solutions Limited's shares are probably going to go public on the NSE SME platform.

Utilisation of proceeding from IPO

The proceeds from the offering will be used by Boss Packaging Solutions to cover a range of expenses. This covers paying for expenses, buying machinery, and meeting working capital requirements.