Knack Packaging IPO Day 2: GMP indicates 16% listing gain; issue sees strong demand. Should you subscribe?

Knack Packaging IPO saw strong demand on Day 1, subscribed 2.6 times overall with retail at 1.31 times, NIIs at 4.89 times and QIBs at 3.15 times. The Rs 439.5 crore issue (Rs 380 crore fresh + Rs 59.5 crore OFS) priced at Rs 161-170 per share has a grey market premium of around 16 percent, indicating an expected listing price of about Rs 196 on July 8. For FY26, the company reported revenue of Rs 823.4 crore, net profit of Rs 92.8 crore and EBITDA margin of 18.5 percent, while Choice Broking and Anand Rathi both recommended Subscribe for long term.