Knack Packaging, a leading producer of printed and laminated woven polypropylene (PLWPP) bags, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). 

The company aims to raise Rs 475 crore through a fresh issue of shares.

The proceeds from the IPO will be primarily used to fund a significant capacity expansion. 

The company plans to allocate Rs 435 crore to set up a new manufacturing plant at Borisana, Kadi in Mehsana, Gujarat, with the remaining funds going toward general corporate purposes. 

With a strong presence in 68 countries and a 10% market share in India's flexible bulk packaging segment, the IPO is set to bolster Knack Packaging's position as a market leader.