Kahan Packaging shares list at Rs 152, jump 90%
Kahan Packaging shares listed on the BSE SME platform today, September 15, 2023, at Rs 152, a premium of 90% over the IPO price of Rs 80. The SME IPO was oversubscribed 690 times, with retail investors subscribing 1,044.8 times their allotted quota and HNIs subscribing 416.2 times their reserved portion.
The company has raised Rs 5.76 crore via IPO. Kahan Packaging is a polypropylene (PP) & high-density polyethylene (HDPE) woven fabric manufacturer that provides customised bulk packaging solutions to business-to-business (B2B) manufacturers. It caters to agro-pesticides, cement, chemical, fertilizer, and food products industries.
Post listing, Kahan Packaging stock jumped nearly 100% and hit an intraday high of Rs 159.60.
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Market Update for September 22, 2023
IdeaForge Tech up 3.4% on order RVNL up 3% on highway MoU JSW Steel up 0.4% on sale ICICI Lombard down 1.6% on CEO exit ICICI Bank down 1% on healthcare investment NHPC up 1.3% on extended additional charge Kalyani Forge up 3.2% on new MD IRB Infra up 2.5% on road project closure
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