Boss Packaging Solutions Limited, a company that started its journey in 2012 as a manufacturer of filling and sticker labeling machines, has expanded its portfolio significantly over the years. Today, the company is a leading manufacturer, supplier, and exporter of diversified packaging solutions, including capping and filling machines, self-adhesive sticker labeling machines, conveyors, turn tables, web sealers, and sleeve applicators. With a robust sales and distribution network across India, Boss Packaging has established itself as a significant player in the packaging industry.

The company's Initial Public Offering (IPO) is a Fixed Price Issue, amounting to ₹8.40 crores, consisting entirely of a Fresh Issue of 12.74 Lakh shares. The subscription period for the Boss Packaging IPO opened on August 30, 2024, and is set to close on September 03, 2024. The allotment of shares is expected to be finalized on or about September 4, 2024, with the shares scheduled to be listed on the NSE SME on or around September 6, 2024.

The IPO share price is set at ₹56 per equity share, with a minimum lot size of 2,000 shares. Retail investors are required to invest a minimum of ₹112,000, while High-Net-Worth Individuals (HNIs) must invest in a minimum of 2 lots (4,000 shares), amounting to ₹224,000. The IPO is managed by FEDEX Securities Private Limited as the book-running lead manager, with KFIN Technologies Limited serving as the registrar. B.N. Rathi Securities Limited is designated as the Market Maker for this IPO.

Boss Packaging Solutions Limited IPO GMP Today

The Grey Market Premium (GMP) for Boss Packaging Solutions Limited IPO is expected to range between ₹30 and ₹35, reflecting market optimism based on the company's financial performance. However, it is important to note that the GMP is purely speculative and is not an official indicator of the IPO's performance on the listing day. The Grey Market Premium depends largely on the demand and supply dynamics of the company's shares in an unregulated manner, and hence, should be considered for informational purposes only.

Boss Packaging Solutions Limited IPO Live Subscription Status

As of 2:32 PM on September 3, 2024, the live subscription status for the Boss Packaging Solutions Limited IPO indicates that the issue has been subscribed 60.41 times on its third day. This strong subscription suggests high investor interest, particularly in the SME segment, where IPOs have historically seen significant demand. Investors can monitor the live subscription status on the NSE website to stay updated on the latest figures.

Boss Packaging Solutions Limited IPO Allotment Status

The allotment date for the Boss Packaging IPO is set for September 4, 2024. Investors eagerly awaiting the allotment results can check their status by visiting the registrar's website. To check the Boss Packaging Solutions Limited IPO Allotment Status, follow these simple steps:

Visit the IPO allotment status page on the registrar's website.

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.

This process will help investors quickly determine whether they have been allotted shares and proceed with their investment decisions accordingly.

Objectives of Boss Packaging Solutions Limited IPO

The proceeds from the Boss Packaging IPO will be utilized for several key objectives:

Purchase of Machinery: ₹333.70 Lakhs will be allocated for acquiring new machinery to enhance production capabilities.

Working Capital Funding: ₹300.00 Lakhs will be used to meet the company’s working capital requirements.

General Corporate Purposes: ₹142.14 Lakhs will be directed towards general corporate needs, ensuring the smooth operation of the company’s business activities.

Boss Packaging Solutions IPO Review

The promoters of Boss Packaging Solutions Limited bring a wealth of experience to the table. Kamleshbhai Hasmukhbhai Patel has over 5 years of experience in the industry, while Jagrutiben Manishbhai Brahmbhatt has been handling administrative affairs for over 10 years. Manishbhai Natvarbhai Brahmbhatt and Ketan Suryakantbhai Thakkar boast nearly 15 and 12 years of experience, respectively, in the packaging business. Their collective expertise has been instrumental in steering the company towards growth.

Financially, Boss Packaging has demonstrated robust performance. The company’s revenue increased from ₹548.21 Lakhs in FY22 to ₹1,034.71 Lakhs in FY23 and reached ₹1,217.54 Lakhs in FY24. Similarly, EBITDA rose from ₹69.19 Lakhs in FY22 to ₹143.69 Lakhs in FY23, and is currently at ₹155.57 Lakhs in FY24. The Profit After Tax (PAT) also saw an upward trend, increasing from ₹41.77 Lakhs in FY22 to ₹100.51 Lakhs in FY23, and now stands at ₹101.04 Lakhs in FY24. This consistent growth underscores the company’s strong financial health.

For the Boss Packaging IPO, the company is issuing 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 P/E ratio of 43.38x. The Return on Capital Employed (ROCE) for FY24 is 28.99%, and the Return on Equity (ROE) for FY24 is 22.31%, indicating that the IPO is reasonably priced and offers a good opportunity for investors.

Investment Recommendation

Based on the company’s financial performance and the valuation of the IPO, investors with a higher risk tolerance may consider applying for the Boss Packaging Solutions Limited IPO. The Grey Market Premium suggests potential listing gains of 50% to 55%, making it an attractive option for those seeking short-term gains or long-term investment opportunities.

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