Boss Packaging Solutions made a strong debut on the stock exchange on September 6, listing at ₹82.5 per share, a 25% premium over its issue price of ₹66 on the NSE SME platform. This opening surpassed grey market expectations, where the shares were trading at an 8% premium before the listing.
The company’s ₹8.41 crore public offer saw tremendous interest, being subscribed 135 times during its three-day subscription period. Retail investors oversubscribed their portion by 163 times, while non-institutional investors placed bids 103.64 times their allotted quota. The total bids reached a value of ₹1,073 crore.
Founded in 2012, Boss Packaging Solutions specializes in manufacturing and exporting packaging, capping, and filling machines. They also offer a range of products including self-adhesive sticker labeling machines, conveyors, turntables, web sealers, and sleeve applicators.
Despite its growth, the Ahmedabad-based company has faced rising debt, with net debt increasing by 82% to ₹3.06 crore in 2023 from ₹1.64 crore the previous year. The funds raised from the IPO will be used for purchasing machinery, funding working capital, and other corporate needs.
