Business
Knack Packaging IPO Day 3: Issue subscribed 83x at close; GMP signals 17% listing gain
Investor sentiment remains upbeat. In the grey market, Knack Packaging shares are trading at a premium of around 17% over the upper end of the price band, suggesting the potential for a healthy listing gain if current trends continue.
The IPO comprises a fresh issue of Rs 380 crore and an offer for sale (OFS) of up to Rs 59.5 crore by existing shareholders. The company has fixed the price band at Rs 161-170 per share, with a minimum application size of 88 shares.
Knack Packaging is set to list on both the BSE and NSE, with the tentative listing date scheduled for July 8.
Knack Packaging IPO Subscription Status
As of Day 3, the Knack Packaging IPO had been subscribed 83.3 times overall for the 1.89 crore shares on offer.
Retail Individual Investors (RIIs): Subscribed 20 times for their allotted 94.42 lakh shares, reflecting steady retail participation.
Non-Institutional Investors (NIIs): Saw strong demand, getting subscribed 140 times against 40.46 lakh shares, highlighting robust HNI interest.
Qualified Institutional Buyers (QIBs): Subscribed 154 times for 40.46 lakh shares, indicating moderate institutional demand.
Knack Packaging IPO GMP Today
Sentiment in the grey market remains upbeat for the Knack Packaging IPO, with shares trading at a grey market premium (GMP) of around 17% over the upper price band.
Based on current GMP trends, the IPO is expected to list near Rs 198 per share, suggesting a potential listing gain if market sentiment holds steady.
About the company
Knack Packaging is an integrated packaging solutions manufacturer engaged in producing Printed and Laminated Woven Polypropylene (PLWPP) bags, including pinch-bottom bags used across industries such as food grains, flour, sugar, pet food, fertilizers, chemicals, detergents, cement and construction materials.
The company exports to 71 countries and serves over 1,950 customers globally. It has an estimated 10.1% market share in India’s flexible bulk PLWPP bags segment and operates an integrated manufacturing model covering the entire production chain from polypropylene processing to printing and bag conversion.
Its customer base includes companies such as KRBL, Drools, DCM Shriram, Baba Agro Foods, while internationally it serves clients including Cargill and other global brands.
Financial performance
For FY26, the company reported revenue from operations of Rs 823.4 crore, up from Rs 736.5 crore in the previous year.
Net profit increased to Rs 92.8 crore from Rs 73.8 crore in FY25, while EBITDA improved to Rs 152 crore, with EBITDA margins expanding to 18.5%.
Utilisation of proceeds
The company plans to use the fresh issue proceeds primarily to fund the construction of a new manufacturing facility at Borisana in Gujarat, with around Rs 320 crore earmarked for capital expenditure. The remaining proceeds will be used for general corporate purposes.
What brokerages say
Choice Broking has assigned a “Subscribe for Long Term” rating to the IPO.
The brokerage believes Knack Packaging has built a strong competitive position through its integrated operations, export presence and consistent financial performance. It expects the company’s ongoing capacity expansion, shift towards owned manufacturing facilities and international growth initiatives, including its Mexico joint venture, to support long-term earnings growth.
However, Choice also highlighted risks from global economic slowdowns, customer concentration, foreign currency fluctuations and competitive pressures.
Anand Rathi has also recommended “Subscribe — Long Term” on the issue.
The brokerage believes the company is well positioned in the organised packaging industry with an integrated manufacturing model, strong export presence and growing demand for value-added packaging products. It also noted that increasing manufacturing capacity and improving operational efficiencies could support future growth.
Also read: Kusumgar’s Rs 650-crore IPO to open on July 8; entire issue an OFS
At the upper end of the price band, the IPO is valued at around 22.4 times FY26 earnings, which both brokerages consider broadly fair considering the company’s growth profile and export-led business model.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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Apple Plans New iPad Pro and Redesigned MacBook Pro for Spring 2027 With Faster M7 Chip That Skips M6 Pro
CUPERTINO, Calif. — Apple is preparing a significant hardware refresh for the first half of 2027, with four new iPad Pro models and a redesigned entry-level MacBook Pro both targeting a spring release window, according to Bloomberg’s Mark Gurman, whose report also revealed an unusual and aggressive chip strategy that would see Apple skip high-end M6 variants entirely in favor of fast-tracking a new M7 processor generation built specifically around on-device artificial intelligence performance.
The disclosures add concrete shape to a 2027 product pipeline that was previously understood only in rough outline, confirming that Apple’s Pro tablet line and its most popular professional laptop will both receive meaningful updates within the same release window, even as ongoing memory shortages continue to complicate the company’s manufacturing costs and pricing strategy.
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The chip powering those new iPad Pros remains technically unconfirmed in Gurman’s report, which indicated the tablets could receive either an M6 or M7 processor depending on which silicon is ready in time. That ambiguity reflects the unusual timing of Apple’s chip roadmap as it currently stands.
Apple plans to introduce the M6 chip later this year in an updated 14-inch MacBook Pro, a transitional model internally codenamed J804 that carries the current MacBook Pro chassis with a chip upgrade but no design changes. That model represents the straightforward generational refresh Apple’s product line would normally deliver. What is unusual is what comes next.
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The rationale cited across reporting is AI performance. The M7 is being built on Apple’s 2-nanometer manufacturing process with specific optimizations for on-device AI workloads and is targeting memory bandwidth of approximately 240 gigabytes per second, significantly ahead of the M6’s comparable figure, giving it the throughput needed to run increasingly capable machine learning models locally without depending on cloud servers. Both the M6 and the M7 use 2-nanometer process technology, meaning the generational distinction lies not in the manufacturing node but in the AI-specific architecture choices Apple has made within the M7 design.
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The spring 2027 window is shaping up as one of Apple’s most product-dense launch periods in years. Beyond the iPad Pro and MacBook Pro updates, reporting suggests the same window is expected to include the iPhone 18, iPhone 18e and a second-generation iPhone Air, creating a simultaneous release cluster across Apple’s most commercially important product categories.
A significant caveat accompanies all of this planning, however. The global memory shortage that has already forced Apple to raise prices substantially on its existing Mac lineup, with the entry MacBook Pro with one terabyte of storage jumping from $1,699 to $1,999 following a June price increase, continues to represent a genuine supply-side risk to any forward-looking product schedule. Apple’s scale gives it priority access to TSMC’s advanced manufacturing capacity and to memory suppliers in ways unavailable to smaller competitors, but no company is immune to yield problems, packaging bottlenecks or demand-driven allocation challenges when the entire semiconductor industry is simultaneously competing for the same components. Gurman’s report explicitly flagged that ongoing memory and chip shortages could still disrupt the 2027 launch timeline, a caveat that applies equally to the iPad Pro and MacBook Pro plans regardless of how confident Apple’s internal engineering teams are in their current roadmaps.
Apple did not respond to requests for comment on the reported product plans.
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