Gopal Snacks IPO allotment expected on March 12: check status, key details & more

Gopal Snacks Ltd IPO share allotment is expected to be finalised on Tuesday, March 12. The initial public offer (IPO) of the Rajkot-based food products maker received a good response from investors and was subscribed more than nine times. The bidding for the IPO closed on Monday, March 11.

Investors waiting for the share allotment, can easily check the status on the official website of the IPO registrar, Link Intime India Private Ltd. The allotment status can also be checked on the official websites of NSE and BSE.

Though the company will inform successful bidders about the share allotment through emails and SMS, you can follow these steps to know about the IPO share allotment status online.

Steps to check Gopal Snacks IPO share allotment on the registrar website

• Open Link Intime India Private Ltd official website: https://www.linkintime.co.in
• Click on investor services and select public issues
• Select Gopal Snacks Ltd from the dropdown
• Enter your PAN No or Application No or Account No or Client ID
• Click on the ‘Submit button’.

Steps to check Gopal Snacks IPO allotment status on the NSE website

• Visit the official website of NSE: https://www.nseindia.com
• Register on the NSE website to get a username and password.
• Login with username and password provided by NSE
• Select Gopal Snacks Ltd from the dropdown menu for company names
• Verify PAN
• Enter IPO application No
• Click on Submit

The details of the share allotment will be available only after the company finalises the allocation process.

Gopal Snacks Ltd launched the maiden public offer on March 6 to raise around ₹650 crore from public shareholders. The IPO was well received by investors who placed bids for a total of 10,81,08,746 shares compared to 1,19,79,993 shares offered by the company, according to the NSE data.

The Qualified Institutional Buyers’ (QIBs) portion was subscribed more than 17 times. Applications for 5.93 crore (5,93,89,588) equity shares were received from qualified institutional buyers against 33.93 lakh (33,93,700) equity shares offered to them.

The non-institutional investors’ category subscribed more than nine times while the retail individual investors’ portion was subscribed around 4 times. The company offered 1.02 lakh (1,02,040) to its employees.

Gopal Snacks Ltd had raised a total of ₹194 crore from anchor investors on March 5 ahead of the IPO launch. The company allotted 48.36 lakh equity shares at a price of ₹401 per share to as many as 19 funds.

The public offer was entirely an offer for shares by promoters and existing investors to raise around ₹650 crore. The company fixed the IPO price band at ₹381-401 per share for the IPO. The lot size was 37 and the minimum investment was ₹14,097 for retail investors.

About Gopal Snacks

Gopal Snacks is a FMCG company which manufactures namkeen, western snacks, and other food products. Founded in 1999, the company sells products across India and global markets. As of September 2023, the company had a network of three depots and 617 distributors in 10 states and two Union Territories. Gopal Snacks operates three manufacturing facilities at Rajkot and Modasa in Gujarat, and Nagpur in Maharashtra.