Goyal Salt Limited

About the Goyal Salt Limited IPO: Incorporated in 2010, Goyal Salt Limited specialises in refining raw salt sourced from subsoil brine in Rajasthan for both industrial and edible purposes. Their product range includes triple-refined iodized salt, industrial salt, double-fortified salt, and triple-refined half-dry salt, all of which undergo a chemical and adulteration-free refining process. Their well-equipped refinery, located near Sambhar Lake in Nawa City, Rajasthan, has dedicated areas for salt refining, raw salt storage, and packaging. They have a qualified and dedicated team responsible for quality control, production, efficiency, maintenance, research, finance, and accounting. Raw salt, the primary raw material, is sourced mainly from open market purchases (75%), with additional supplies coming from the promoters' entities (23%) and the company's own salt land (2%). The company produces and supplies refined iodized salt and double-fortified salt, offering various packaging options for both home and industrial use. Industrial salt serves various industries, including soap, detergent, textile, dyeing, glass, polyester, plastics, rubber, leather, and chemicals. It is used for cleaning oil and gas wells, paper production, tire manufacturing, and other applications. The pharmaceutical industry relies on it for saline solutions and capsules, while the pigment industry uses it as a filler and grinding agent. Salt also has applications in animal feeding, water softening and treatment, and pool maintenance, making it a versatile mineral with broad industrial and consumer uses. Now, Goyal Salt Limited is coming out with its initial public offer (IPO). The Company proposes to utilise the Net Proceeds of the Fresh Issue towards funding the following objects: • Capital Expenditure for Quality Enhancement; • Brand Creation and Marketing Expenses; • Funding the working capital requirements of our Company; and • General corporate purposes Here are key details about the Goyal Salt Limited IPO: Company Name Goyal Salt Limited Company Type Private IPO Type SME Goyal Salt Limited IPO Opening Date 26 September 2023 Goyal Salt Limited IPO Closing Date 29 September 2023 Goyal Salt Limited IPO Allotment Status 5 October 2023 Credit of Shares to the Demat Account 9 October 2023 Goyal Salt Limited IPO Listing Date 11 October 2023 Goyal Salt Limited IPO Face Value ₹ 10 per share Goyal Salt Limited IPO Lot Size 3000 shares Goyal Salt Limited IPO Issue Size ₹ 18.63 crore Goyal Salt Limited IPO to be Listed on NSE SME Goyal Salt Limited IPO Price band ₹ 36-38 per share