Knack Packaging IPO Day 2: Subscription at 3.45x

Opening status and why Day 2 matters

Knack Packaging’s initial public offering (IPO) is in its second day of bidding, with the issue open from July 1 and scheduled to close on July 3. The price band is set at ₹161-₹170 per equity share, with a face value of ₹10. Day 2 is typically when category-wise demand becomes clearer, especially from non-institutional and institutional investors. In this case, multiple market trackers and reports are publishing different subscription snapshots at different times. That makes it important to separate exchange-reported numbers from live tracker estimates and grey market indicators.

Key IPO details: price band, size, and timeline

The IPO is priced between ₹161 and ₹170 per share. One report states the company aims to raise ₹380 crore through the issue. Separately, another tracker mentions an issue size of ₹439.50 crore, alongside additional deal details such as total shares and an OFS component. The subscription window is open until July 3, 2026, after which the allotment process and post-issue steps begin.

The post-issue schedule cited in the provided information includes refunds likely to be initiated on Tuesday, July 7, with shares credited to successful bidders’ demat accounts the same day. The listing is tentatively scheduled for Wednesday, July 8, 2026 on the BSE and NSE. Another snippet also mentions the allotment process being initiated on July 6, 2026, which aligns with the typical sequence of events leading into July 7 refunds and demat credit.

Subscription on Day 1: what exchange data showed

For Day 1, the article text includes a specific exchange-time snapshot: at 17:00 IST on Wednesday (July 1, 2026), bids were reported for 4,92,46,296 shares against 1,89,64,018 shares on offer, as per BSE data. Based on that data point, the overall subscription is presented as 2.60x in the same set of excerpts, with category break-up as follows:

• Qualified Institutional Buyers (QIB): 3.15x
• Retail Individual Investors (RII): 1.31x
• Non-Institutional Investors (NII): 4.89x
• Others: 0x
• Total: 2.6x

The text also contains a conflicting line stating “The issue was subscribed 0.24 times” while referring to the same 17:00 IST data context. Since both statements appear in the input, readers should treat the 2.60x figure as the clearly supported one because it is repeated alongside the category-wise table and ratios.

Day 2 demand signals: 3.45x headline and live tracker prints

The headline provided states: “Knack Packaging IPO Day 2: Issue subscribed 3.45x so far.” Beyond that, the excerpts also include live tracker numbers that are higher, including “Knack Packaging Limited IPO is subscribed 7.22x overall so far” and another live table indicating “Total 7.55x” with category-wise break-up such as QIB 3.61x, Retail 4.44x, and NII 20.16x.

Because these prints are drawn from different sources and may reflect different cut-off times and methodologies, they should not be treated as a single unified subscription figure. What can be stated from the provided text is that demand indicators ranged from 3.45x (Day 2 headline) to 7.55x (a live tracker snapshot), while the exchange-linked Day 1 closing snapshot cited 2.60x at 17:00 IST.

Grey Market Premium (GMP): multiple quotes, different points in time

The grey market premium (GMP) for Knack Packaging is also reported with a wide spread across the excerpts:

• GMP reported as +26 in one section, with an estimated listing price of ₹196 (15.29% above ₹170)
• A separate section says shares were available at a premium of ₹15 in the grey market “today”
• Another section lists GMP as +11.5, implying an estimated listing price of ₹181.5 (6.76% above ₹170)
• A live tracker snippet cites a dynamic GMP of ₹14.25 and an estimated listing price of ₹184.25
• Another line states GMP is ₹25-26 as of Jul 2, 2026, estimating a listing price near ₹195 based on the upper price band
• A separate tracker shows GMP ₹28 (16.47%)

The excerpts also state that experts reported the lowest GMP at ₹11.50 and the highest at ₹26, while another part of the text prints ₹28. Overall, the input suggests a positive grey market tone but with varying prints depending on source and time.

Timeline: dates investors are tracking

The operational dates mentioned in the text are consistent on the key milestones. The issue opened on July 1 and closes on July 3. The most likely listing date is stated as July 8, 2026. Refund initiation and demat credit are cited as July 7. Another excerpt mentions the allotment process will be initiated on July 6.

Key figures at a glance

Market impact: what the numbers suggest so far

Based on the excerpts, the early subscription interest appears to be led by the non-institutional segment in multiple snapshots. Day 1 exchange-time data showed NII at 4.89x, higher than retail at 1.31x and QIB at 3.15x. The Day 2 live table included in the text also shows NII at 20.16x at a point in time, again suggesting strong participation from the non-institutional category.

In the unofficial market, multiple GMP prints from ₹11.5 to ₹28 point to optimistic listing expectations in some trading circles. But the same input also acknowledges that GMP is an unofficial signal and not a guaranteed listing price. Investors typically watch whether subscription momentum improves into the final day and whether the higher GMP prints sustain closer to allotment.

Analysis: reading the mixed data without over-interpreting it

The provided material mixes exchange-time statistics, headline summaries, and third-party live tracker data. That is common during active IPO windows, but it can also produce confusion when figures are quoted without aligned timestamps. The most reliable “as-of” anchor in the text is the BSE timestamp (17:00 IST on July 1) that supports the 2.60x Day 1 figure and the bid-share counts.

At the same time, the presence of Day 2 subscription headlines (3.45x) and live tracker totals (7.22x and 7.55x) indicates that market interest was being tracked as building through the second day, at least on some platforms. For investors, the practical takeaway from the excerpted data is to focus on category-wise trends and the final day subscription print, while treating GMP as only a sentiment indicator.

Conclusion

Knack Packaging’s IPO, priced at ₹161-₹170, remains open until July 3, 2026, with reported subscription levels ranging from 3.45x on Day 2 headlines to higher live tracker prints, alongside a Day 1 exchange snapshot of 2.60x. The tentative listing date cited across the text is July 8, 2026, with refunds and demat credit expected around July 7. The next concrete updates will be the final-day subscription totals and the allotment schedule as the issue closes.