Knack Packaging gets SEBI`s approval to float IPO
Knack Packaging has secured Securities and Exchange Board of India’s (SEBI's) approval to raise funds through initial public offering (IPO). The issue comprises a fresh equity issue of Rs 475 crore and an Offer for Sale (OFS) of 70 lakh equity shares by promoters and an existing shareholder.
Of the fresh issue, about Rs 435 crore will be utilised for setting up a new manufacturing facility at Borisana, Kadi in Mehsana, Gujarat, while the balance will be earmarked for general corporate purposes. Systematix Corporate Services, IDBI Capital Markets & Securities, and Pantomath Capital Advisors are the lead managers to the IPO. The company's shares will be listed on the NSE and BSE.
Knack Packaging is a leading integrated, innovation-driven, export-oriented packaging solutions provider. Its portfolio includes Printed and Laminated Woven Polypropylene (PLWPP) bags and PLWPP pinch bottom bags, catering to diverse sectors such as food products and pet foods.
