Knack Packaging IPO Day 3: Issue subscribed 8.34x so far; GMP signals 17% listing gain. Is it worth subscribing?

Knack Packaging IPO was subscribed 8.34 times on Day 3, with non-institutional investors leading at 23.53 times and retail investors at 4.63 times. Grey market premium of around 17 percent over the upper price band of Rs 170 suggests an expected listing price near Rs 198, with listing scheduled for July 8 on BSE and NSE. Brokerages including Choice Broking and Anand Rathi recommended a Subscribe for Long Term rating, citing the company's integrated packaging model, 10.1 percent market share in flexible bulk PLWPP bags, export presence across 71 countries, and FY26 revenue of Rs 823.4 crore with net profit of Rs 92.8 crore.