IPO for Boss Packaging Solutions: Over two times subscribed to the public offer; QIB without any bids on the issue
The robust IPO subscription demand was driven mostly by retail investors, who reserved their allotment more than three times over. Retail investors placed bids on more than 18.26 lakh of the 6.04 lakh shares set aside for the category.
Following 2.12 subscriptions on Day 1, the Boss Packaging Solutions IPO subscription got off to a decent start. The maker of filling, capping, and packaging machinery got offers for nearly 25.68 lakh shares, compared to the 12.08 lakh shares that were offered.
The robust IPO subscription demand was driven mostly by retail investors, who reserved their allotment more than three times over. Retail investors placed bids on more than 18.26 lakh of the 6.04 lakh shares set aside for the category.
1.22 subscriptions for the issuance were made by Non-Institutional Investors (NIIs), who applied for 7.42 lakh shares out of the 6.04 lakh shares designated for the segment.
Qualified Institutional Buyers (QIBs) did not submit any bids to Boss Packaging Solutions on the first day of business.
The initial public offering (IPO) of Boss Packaging Solutions is a book-building transaction valued at Rs 8.41 crore, consisting solely of a fresh issuance of 12,47 lakh shares priced at Rs 66 apiece.
Because there is a minimum lot size of 2,000 shares in the Boss Packaging Solutions IPO, retail investors need to deposit Rs 1,32,000 in order to participate.
Non-institutional investors (NIIs) are required to invest a minimum of 4,000 shares, or two lots, for a total investment of Rs 2,64,000.
Timetable for subscriptions
Boss Packaging Solutions Limited’s initial public offering (IPO) subscription period is open from August 30 to September 3. The IPO allotment status is most likely going to be resolved on September 4.
Refunds for those who did not receive an allocation will start on September 5. Additionally, shares will be credited to the demat accounts of the successful bidders on the same day.
The shares of Boss Packaging Solutions Limited are expected to go public on the NSE SME platform on Friday, September 6.
application of the IPO proceedings
Boss Packaging Solutions will utilize the offering’s profits to pay for a variety of costs. This includes covering the cost of living, purchasing equipment, and fulfilling working capital demands.
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