Packaging products maker Knack Packaging’s Rs.440-Cr IPO subscribed 83x

The initial public offering (IPO) of Knack Packaging concluded with an overall subscription of 83 times the shares on offer. The issue, which includes a fresh issue of INR 380 crore and an offer for sale (OFS) of INR.59.5 crore has seen active participation from institutional and non-institutional investors.Founded in 1993 as an integrated packaging manufacturer, Knack Packaging produces printed and laminated woven polypropylene (PLWPP) bags for a diverse range of industries, including food, fertiliser, and construction. The company covers the entire production process, from polypropylene processing to final bag conversion. It claims to export to 71 countries, serving over 1,950 global customers.The company plans to use the net proceeds from the fresh issue primarily for capital expenditure, specifically to fund the construction of a new manufacturing facility in Gujarat.