Knack Packaging Limited’s initial public offering concluded on Friday with a final subscription multiple of 25.75 times, marking a significant surge in investor appetite during the last hours of bidding.
The issue, which opened for subscription on July 1, saw demand accelerate sharply from 7.21 times on the second day to nearly 26 times by mid-afternoon on the final day.
Non-institutional investors (NII) emerged as the primary drivers of the oversubscription, with the category recording a subscription multiple of 7,683 times.
This intense retail interest underscores the broader market sentiment favoring consumer-facing and manufacturing plays in the current IPO window.
The Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) categories both contributed to the heavy demand, though the NII segment's participation was disproportionately high relative to its allocation.
The packaging solutions provider intends to utilize the proceeds from the fresh issue primarily to fund a new manufacturing facility in Borisana, Gujarat.