Kahan Packaging’s initial public offering (IPO) subscriptions will start on September 6. This would be the SME market’s first public issuance the following week. This is a problem with a set pricing. An 80 Rupee (Rs.) per share issue price has been determined.

The goal of the initial public offering (IPO) of 7.2 lakh shares is to raise Rs 5.76 crore for the bulk packaging solutions company.

The first public offering consists only of new shares. As a result, the business plans to use the whole amount of proceeds from the offering to satisfy its working capital needs, with the remainder going toward general corporate purposes.

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This promotion will end on September 8th.

Out of a total offer of 7.2 lakh shares, the Mumbai-based company has set aside 40,000 for its own use, while the remaining 6.8 lakh shares would be split between retail investors and high net worth persons in a ratio of 3.4 lakh shares to each.

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Manufacturing both polypropylene (PP) and high-density polyethylene (HDPE) woven fabric, Kahan Packaging offers unique bulk packaging solutions to B2B producers of agro pesticides, cement, chemicals, fertilizers, and food goods.

The issue’s merchant banker is Hem Securities, and Purva Sharegistry (India) is handling the registration of the securities.