The initial public offering (IPO) of Gopal Snacks Limited concluded on Monday, March 11, 2024, with an impressive overall subscription of 9.50 times. The IPO, worth Rs 650 crore, was open for public subscription from Wednesday, March 6, 2024.
Investors showed significant interest in the IPO, with bids received for 10,80,83,438 shares against the 1,13,81,955 shares on offer. Notably, the subscription figures indicate robust demand across different investor categories, with the retail category oversubscribed by 4.22 times, the Qualified Institutional Buyer (QIB) category by 18.42 times, and the Non-Institutional Investor (NII) category by 10.00 times. Gopal Snacks Limited set the price range for its equity shares at Rs 381 to Rs 401 each, with a face value of Rs 1 per share.
The Grey Market Premium (GMP) for Gopal Snacks IPO is currently quoted at Rs 14.
Considering the price band of Rs 381 to Rs 401, and factoring in today’s GMP, the estimated listing price for the IPO is anticipated to be around Rs 415 per share (upper price band + GMP). This projection suggests a potential gain/loss of approximately 3.49% per share.
Allotment and Listing Details:
Allotment for Gopal Snacks Limited IPO is expected to be finalized by Tuesday, March 12, 2024.
The IPO is slated to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with a tentative listing date set for Thursday, March 14, 2024.
Book Running Lead Managers:
The book running lead managers for the IPO are Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited.
Registrar to the Offer:
Link Intime India Private Limited will serve as the Registrar to the Offer.
Company Overview:
Established initially as a partnership firm in 1999, Gopal Snacks Limited transitioned into a full-fledged company in 2009. The company is a significant player in the fast-moving consumer goods sector, specializing in a diverse range of snacks under its brand ‘Gopal’.
As of September 30, 2023, Gopal Snacks boasted a product portfolio comprising 84 items across 276 SKUs, reaching consumers through 523 locations in ten states and two Union Territories. The company’s extensive distribution network includes three depots, 617 distributors, and a sales and marketing team comprising 741 employees.
With six manufacturing facilities strategically located across India, including primary ones in Rajkot, Modasa (Gujarat), and Nagpur (Maharashtra), Gopal Snacks Limited is well-equipped to meet the demand for its products.
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