Knack Packaging IPO shares allotted? Check latest GMP ahead of Wednesday listing

New Delhi: Investors who applied for the Knack Packaging IPO can now check their allotment status, with the company's shares scheduled to list on the stock exchanges on Wednesday. Ahead of the market debut, the grey market is signalling a modest listing premium despite some cooling in sentiment. Knack Packaging IPO GMP The latest Grey Market Premium (GMP) stood at Rs 15.5 as on July 7, indicating an estimated listing price of around Rs 185.5 per share against the IPO's upper price band of Rs 170. Based on the current GMP, the IPO is expected to list at a premium of about 9.12 per cent. However, grey market trends are unofficial and do not guarantee the stock's actual listing performance. The IPO was priced in the range of Rs 161 to Rs 170 per share and received a strong response from investors, with the issue being subscribed 87.17 times across categories. The company raised Rs 439.5 crore through the public issue. Knack Packaging IPO GMP eases from recent highs While the grey market continues to point to a positive listing, the premium has moderated in recent sessions. Market trackers show the GMP has moved between Rs 11.5 and Rs 28 over the past two weeks. The current premium of Rs 15.5 is closer to the lower end of that range, suggesting expectations have cooled somewhat ahead of listing. Market experts caution that the GMP is an unofficial indicator based on grey market trading and can change until the shares begin trading. The actual listing price will depend on market conditions and investor demand on debut. A positive GMP generally indicates expectations of a listing above the issue price, while a negative GMP points to a possible discount. However, the grey market is unregulated and should be viewed only as a sentiment indicator rather than a reliable predictor of listing gains. With the allotment process complete, successful applicants can expect the shares to be credited to their demat accounts ahead of Wednesday's listing. Refunds for unsuccessful applicants are also expected to be processed as per the IPO schedule. About Knack Packaging IPO The Knack Packaging IPO opened for subscription on July 1 and closed on July 3. The Rs 439.5 crore public issue comprised a fresh issue of Rs 380 crore and an offer for sale (OFS) of Rs 59.5 crore by existing shareholders. The shares were offered in a price band of Rs 161-170 apiece, with a minimum application size of 88 shares. The company plans to utilise the fresh issue proceeds primarily to set up a new manufacturing facility at Borisana in Gujarat, while the balance will be used for general corporate purposes. Ahmedabad-based Knack Packaging manufactures printed and laminated woven polypropylene (PLWPP) bags used across industries including food grains, sugar, fertilisers, chemicals, cement, pet food and construction materials. It exports to 71 countries, serves more than 1,950 customers globally and counts companies such as KRBL, Drools, DCM Shriram, Baba Agro Foods and Cargill among its customers.