Knack Packaging IPO GMP, Date, Price Band & Review

Knack Packaging IPO Details

Knack Packaging IPO is a fully book-built mainboard issue aggregating up to ₹439.50 crore at the upper price band. The IPO comprises a fresh issue of ₹380 crore and an Offer for Sale (OFS) of 35,00,000 equity shares, valued at ₹59.50 crore, by the promoter group. The company had filed its Draft Red Herring Prospectus (DRHP) in September 2025 and later received SEBI approval in December 2025.

The price band for the issue is ₹161 to ₹170 per equity share, and the lot size is 88 equity shares. The minimum investment amount for a retail investor is ₹14,960 at the upper price band for one lot. The issue opens for subscription from July 1, 2026 to July 3, 2026 through BSE and NSE, with a tentative listing date of July 8, 2026. The anchor book opens on June 30, 2026. The Book Running Lead Managers to the issue are Systematix Corporate Services Limited, IDBI Capital Markets & Securities Limited, and Pantomath Capital Advisors Private Limited, while MUFG Intime India Private Limited is the registrar to the issue.

Knack Packaging IPO Date & Timeline

The Knack Packaging IPO is officially set to open for subscription on July 1, 2026 and will close on July 3, 2026. The anchor investor portion will open on June 30, 2026, one day before the public issue opens. Once the subscription window closes, the basis of allotment is expected to be finalised on July 6, 2026.

After finalisation, refunds are likely to be initiated and shares are expected to be credited to successful bidders’ demat accounts on July 7, 2026. Finally, Knack Packaging Limited shares are tentatively scheduled to list on both the BSE and NSE on July 8, 2026.

Knack Packaging IPO GMP

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Knack Packaging IPO GMP is currently trading at ₹33.5, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹203.5, which is 19.71% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Knack Packaging Limited is an industrial packaging company based in Gujarat, which has been promoted by the Patel family. This company is engaged in the manufacturing of woven polypropylene-based packaging products and is positioned as an integrated and export-oriented packaging solutions provider.

The company operates in a specialised B2B packaging segment where demand is linked to industrial and bulk packaging requirements across sectors. Its business model is manufacturing-led and capacity-driven, which means scale, product quality, customer relationships, and execution efficiency play a major role in long-term performance.

Operations & Product Range

Knack Packaging Limited manufactures printed and laminated woven polypropylene bags and pinch bottom bags of PLWPP. These are industrial packaging items that have very high tensile strength and are used in bulk packaging and other commercial uses.

The company’s business model is based on manufacturing and supply rather than consumer-facing branding. That gives it exposure to industrial demand cycles, capacity utilisation, customer retention, and delivery execution. It also serves a diversified packaging need base, including sectors such as food products and pet food, according to issue-related business summaries.

Facilities & Capacity

Knack Packaging already operates manufacturing facilities in Gujarat and is now planning a major expansion through the IPO proceeds. The company currently has an aggregate effective installed capacity of 36,400 MT and reported capacity utilisation of 85.98% in the referenced industry-linked issue summary.

A substantial part of the fresh issue proceeds will be used to partially fund a new manufacturing facility at Borisana, Kadi, in Mehsana district, Gujarat. The facility will manufacture printed and laminated woven polypropylene bags and PLWPP pinch-bottom bags. The total estimated project cost is about ₹364.9 crore, out of which ₹12.8 crore had already been deployed as of June 23, 2026, ₹32 crore is expected from internal accruals, and around ₹320 crore is expected to be funded from the net proceeds of the issue.

Brands & Market Presence

Knack Packaging Limited is an integrated industrial packaging solutions provider with an export-oriented business structure. In the fiscal year 2024-25, Knack Packaging Limited had a market share of 10.1% in the domestic flexible bulk PLWPP bags industry, as per the cited issue summary.

Issue-related business reporting also notes that the company serves customers across 68 countries. This gives the company a wider market presence than a purely domestic packaging manufacturer and supports its positioning as a specialised industrial packaging player.

Revenue Streams & Business Model

Knack Packaging Limited generates income from manufacturing and selling industrial packaging items, particularly those made out of woven polypropylene bags. This company's business strategy depends upon the scale of manufacturing, industrial demand for such products, capacity utilisation, and efficient packaging.

The financial performance of the company has been excellent for the past three fiscal years. Total income has gone up from ₹518.47 crores in FY23 to ₹659.01 crores in FY24 and further increased to ₹747.38 crores in FY25. Profit After Tax (PAT) has been raised from ₹19.87 crores in FY23 to ₹45.98 crores in FY24 and ₹73.81 crores in FY25.

Knack Packaging reported FY26 revenue of ₹823.4 crore, up 11.8% year-on-year, while FY26 profit increased by 25.6% to ₹92.7 crore. FY25 balance-sheet and profitability indicators were also healthy, with assets of ₹449.36 crore, net worth of ₹214.71 crore, total borrowings of ₹172.06 crore, ROE of 41.70%, ROCE of 50.36%, debt-to-equity of 0.80x, RoNW of 41.54%, PAT margin of 9.88%, and EBITDA margin of 19.31%.

Management & Shareholding

The promoter group of Knack Packaging includes Alpesh Tulsibhai Patel, Pravinkumar Ambalal Patel, Rashminbhai Tulsibhai Patel, and Tulsibhai Keshavlal. The company has a strong promoter backing, with promoter shareholding standing at 89.60% before the issue and expected to reduce to 70.59% after the issue. Despite the dilution and OFS component, the promoter family is expected to retain a significant majority stake and continue exercising control over the company post-listing. Since the Fresh Issue is substantially larger than the OFS in value terms, the overall IPO structure remains clearly focused on business expansion and growth rather than promoter exit.

Board & Key Management

Knack Packaging is a promoter-driven company managed by the Patel family. The management of the company is responsible for production, business growth, expansion plans, and financial controls within the industrial packaging sector.

As the company moves toward a mainboard listing, investors would keep an eye on the quality of governance, execution of projects, financial management, and capital utilisation from the new issue. The success of the IPO would heavily depend on the efficiency of the management in converting fresh capital into profit-making operations.