Boss Packaging Solutions IPO Subscribed 134.60x, GMP Soars; Check Allotment & Listing Dates

Team Finance Saathi

    04/Sep/2024

What's covered in the Article:

Boss Packaging Solutions IPO opens on August 30, 2024, with a fixed price of ₹56 per share.

The IPO proceeds will be used for machinery purchase, working capital, and general corporate purposes.

The Grey Market Premium (GMP) indicates potential listing gains of 70% - 75%.

Boss Packaging Solutions Limited began its journey in 2012, initially focusing on manufacturing filling and sticker labeling machines. Over the years, the company has expanded its portfolio to include a diverse range of packaging, capping, filling machines, and self-adhesive sticker labeling machines. They also manufacture conveyors, turntables, web sealers, and sleeve applicators. With a robust sales and distribution network across India, Boss Packaging has established itself as a key player in the packaging machinery sector.

The Boss Packaging Solutions IPO is set to open on August 30, 2024, and close on September 03, 2024. This Fixed Price Issue amounts to ₹8.40 crores and consists entirely of a fresh issue of 12.74 lakh shares priced at ₹56 per share. The allotment is anticipated to be finalized on September 04, 2024, with the shares expected to list on the NSE SME on September 06, 2024.

Investment Details:

Retail investors must invest a minimum of ₹112,000 for a lot size of 2,000 shares. High-Net-Worth Individuals (HNIs) need to apply for a minimum of 2 lots (4,000 shares), amounting to ₹224,000. FEDEX SECURITIES PRIVATE LIMITED is the book-running lead manager, KFIN TECHNOLOGIES LIMITED is the registrar, and B.N. Rathi Securities Limited will act as the Market Maker for the IPO.

Utilization of IPO Proceeds:

The funds raised through the IPO will be allocated as follows:

₹333.70 lakhs for purchasing new machinery.

₹300.00 lakhs for funding working capital requirements.

₹142.14 lakhs for general corporate purposes.

Financial Performance:

Boss Packaging Solutions has shown notable financial growth. The company's revenue surged from ₹548.21 lakhs in FY22 to ₹1,034.71 lakhs in FY23, and is currently at ₹1,217.54 lakhs in FY24. EBITDA increased from ₹69.19 lakhs in FY22 to ₹143.69 lakhs in FY23, reaching ₹155.57 lakhs in FY24. PAT also grew from ₹41.77 lakhs in FY22 to ₹100.51 lakhs in FY23, and is now ₹101.04 lakhs in FY24, indicating consistent financial performance.

For the IPO, the company is offering shares at a pre-issue Earnings Per Share (EPS) of ₹3.38 and a post-issue EPS of ₹2.27. The pre-issue Price-to-Earnings (P/E) ratio stands at 19.53x, while the post-issue P/E ratio is 29.07x, compared to the industry average of 43.38x. The company's Return on Capital Employed (ROCE) for FY24 is 28.99%, and Return on Equity (ROE) is 22.31%, suggesting the IPO is reasonably priced.

Also Read : Gala Precision Engineering IPO GMP soars on last day of subscription

Grey Market Premium (GMP):

The Grey Market Premium for Boss Packaging Solutions is expected to be in the range of ₹45 to ₹50, indicating potential listing gains of 70% - 75%. GMP reflects market sentiment and should be viewed cautiously, as it does not guarantee the actual listing price.

Live Subscription Status:

As of 08:15 PM on September 03, 2024, the Boss Packaging Solutions IPO has been subscribed 134.60 times on its final day of the subscription period. For up-to-date subscription status, investors can check the details at NSE.

Allotment Status:

The IPO allotment is scheduled for September 04, 2024. To check the allotment status:

Visit the IPO allotment status page.

Select Boss Packaging Solutions Limited IPO from the dropdown list.

Enter your application number, PAN, or DP Client ID.

Submit the details to view your allotment status.

Given the company’s strong financial performance and the IPO's valuation metrics, it is advisable for risk-tolerant investors to apply for the Boss Packaging Solutions Limited IPO for potential listing gains or long-term investment.

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