ENA MSME 2024-09-06 17:02:32 <p><span style="font-size:14px"><strong>New Delhi, Sep 6 (KNN)</strong> Boss Packaging Solutions made a robust debut on the National Stock Exchange's SME platform on September 6, with shares opening at Rs 82.5, marking a 25 per cent premium over the initial public offering (IPO) price of Rs 66.</span></p> <p><span style="font-size:14px">This performance surpassed grey market expectations, which had anticipated an 8 per cent premium.</span></p> <p><span style="font-size:14px">The company's Rs 8.41-crore IPO garnered significant investor interest during its three-day subscription period, being oversubscribed by 135 times and attracting bids worth Rs 1,073 crore.</span></p> <p><span style="font-size:14px">Retail investors showed particularly strong enthusiasm, oversubscribing their allotted quota by 163 times, while non-institutional investors oversubscribed their portion by 103.64 times.</span></p> <p><span style="font-size:14px">Established in 2012, Boss Packaging Solutions specializes in the manufacture, supply, and export of packaging, capping, and filling machines.</span></p> <p><span style="font-size:14px">The company's product range extends to self-adhesive sticker labelling machines, conveyors, turntables, web sealers, and sleeve applicators.</span></p> <p><span style="font-size:14px">Operating from a 500-square yard facility in Ahmedabad, the company has experienced a notable increase in net debt.</span></p> <p><span style="font-size:14px">According to official documents, net debt rose by 82 per cent to Rs 3.06 crore in 2023 from Rs 1.64 crore in the previous year.</span></p> <p><span style="font-size:14px">The company intends to allocate the net proceeds from the IPO towards various initiatives, including machinery acquisition, working capital financing, and general corporate purposes.</span></p> <p><span style="font-size:14px">This successful market debut comes as Boss Packaging Solutions seeks to strengthen its position in the packaging machinery sector and fund its expansion plans.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39192 https://knnindia.co.in/news/newsdetails/msme/boss-packaging-solutions-makes-strong-debut-on-nse-sme-surging-25 2024-09-06 17:02:32 knnindia.co.in