Kahan Packaging IPO: GMP, subscription status on day 3, other details to know | Mint – Mint

Kahan Packaging IPO details: Kahan Packaging IPO opened for subscription on Wednesday, September 6, and will close on Friday, September 8. The company has set the IPO’s price band at 80 per equity share and the share will be listed on the BSE SME exchange Monday, September 18.
Kahan Packaging IPO, which is worth 5.76 crore, is completely a fresh issue; there is no offer for sale (OFS) component. The company plans to use the net proceeds from the offering to meet working capital requirements, and general corporate purpose.
Investors can bid for a minimum of 1,600 shares in one lot and multiples thereafter.
Business-to-business (B2B) manufacturers serving diverse industries, such as the agro-pesticides industry, the cement industry, the chemical industry, the fertiliser industry, and the food products industry, turn to Kahan Packaging Ltd for bulk packaging solutions.
The issue’s book-running lead manager is Hem Securities Ltd, while Kahan Packaging IPO’s registrar is Purva Sharegistry.

Kahan Packaging IPO date

Kahan Packaging IPO share allotment will take place on Wednesday, September 13. Those allotted shares will get them in their Demat accounts on Friday, September 15. The refund process for those who did not get shares will begin on Thursday, September 14.

Kahan Packaging IPO Subscription Status

Kahan Packaging IPO subscription status was 730.45 times on day 3. The issue received positive response from retail investors who’s portion set was subscribed 1,042.37 times, and non-institutional buyers who’s portion set was subscribed 405.59 times, according to data on chittorgarh.com.
The company has received bids for 49,67,04,000 shares against 720,000 shares on offer, according to data on chittorgarh.com.
Kahan Packaging IPO subscription status was 55.40 times on day 1, and the issue was subscribed 175.99 times on day 2.
Also Read: Basilic Fly Studio IPO allotment tomorrow: Latest GMP, here’s how to check allotment status

Kahan Packaging IPO GMP today

Kahan Packaging IPO GMP today or grey market premium is +72 similar to the previous four trading sessions. This indicates Kahan Packaging share price were trading at a premium of 72 in the grey market on Friday, according to topsharebrokers.com
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Kahan Packaging share price is 152 apiece, which is 90% higher than the IPO price of 80.
Today IPO GMP trending upward and expects a strong listing. The lowest GMP is 72, while the highest GMP is 75, according to topsharebrokers.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: EMS Ltd IPO: EMS IPO raises 96.37 crore from anchor investors; details here
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