Kahan Packaging IPO: GMP, subscription status on day 2, other details to know

livemint.com:

₹80 per equity share and the share will be listed on the BSE SME exchange Monday, September 18. Kahan Packaging IPO, which is worth ₹5.76 crore, is completely a fresh issue; there is no offer for sale (OFS) component. The company plans to use the net proceeds from the offering to meet working capital requirements, and general corporate purpose.

Investors can bid for a minimum of 1,600 shares in one lot and multiples thereafter. Business-to-business (B2B) manufacturers serving diverse industries, such as the agro-pesticides industry, the cement industry, the chemical industry, the fertiliser industry, and the food products industry, turn to Kahan Packaging Ltd for bulk packaging solutions. The issue's book-running lead manager is Hem Securities Ltd, while Kahan Packaging IPO's registrar is Purva Sharegistry.

Kahan Packaging IPO share allotment will take place on Wednesday, September 13. Those allotted shares will get them in their Demat accounts on Friday, September 15. The refund process for those who did not get shares will begin on Thursday, September 14.

Kahan Packaging IPO subscription status was 175.99 times on day 2. The issue received positive response from retail investors who's portion set was subscribed 304.63 times, and non-institutional buyers who's portion set was subscribed 46.35 times, according to data on chittorgarh.com. The company has received bids for 11,96,72,000 shares against 720,000 shares on offer, according to data on chittorgarh.com.