Knack Packaging fixes ₹439.5-crore IPO price band at ₹161-170 per share

Knack Packaging sets ₹161-170 IPO price band to raise ₹439.5 crore, with proceeds earmarked for capacity expansion and capital expenditure

Knack Packaging Ltd. has fixed its ₹439.5-crore initial public offer (IPO) price band at ₹161-170 per share. The company plans to sell nearly 25.9 million shares. The IPO comprises a fresh issue of ₹380 crore and an offer for sale (OFS) of ₹59.5 crore.  Proceeds from the IPO will fund capital expenditure (capex). The company manufactures and exports woven, printed, and laminated polypropylene bags and serves brands such as Cargill, Daawat, Drools, and India Gate. The IPO opens Wednesday, July 1 and closes Friday, July 3. Bids can be made at 88 shares and multiples thereof.