Market News
3 min read | Updated on March 11, 2024, 15:53 IST
SUMMARY
Gopal Snacks IPO received a robust response from investors on the last day of subscription. Till 3:00 pm on the final day of subscription, the issue was subscribed 7.06 times.
Today is the last day to apply for Gopal Snacks IPO.
The bidding for Gopal Snacks IPO, which is an entirely offer-for-sale (OFS) of 1.62 crore shares, is set to end today, March 11. The subscription window for the ₹650-crore book-built issue opened on March 6.
Till 3:00 pm on the final day of subscription, the issue was subscribed 7.06 times. Subscribers bid for 3,57,47,217 shares against 1,19,79,993 shares on offer for subscription, as per NSE data.
In the non-institutional Investors' (NIIs) category, the issue received bids for 1,92,69,082 shares against 25,45,276 shares offered to them. NIIs have so far subscribed to the IPO 7.57 times.
Retail investors poured in bids for 2,18,04,840 shares against 59,38,977 shares on offer, showing an oversubscription of 3.67 times.
Qualified institutional buyers (QIBs) bought 4,28,34,604 shares against 33,93,700 shares reserved for them, a subscription of 12.6 times.
The Rajkot-based FMCG firm raised ₹193.94 crore in the anchor round by issuing 48,36,657 equity shares at ₹401 per share on March 5.
Intensive Fiscal Services, Axis Capital and JM Financial are the book-running lead managers of the public issue, while Link Intime India is the registrar.
Established in 1999, Gopal Snacks is into the production and marketing of snacks, as well as other products in India and internationally. The company sells its products under the brand name 'Gopal'. Its products include papad, spices, gram flour or gram flour, noodles, rusk and soan papdi. It also sells snacks such as namkeen, gathiya, wafers, extruded snacks and snack pellets.
As of November 2023, the company has a portfolio of 276 SKUs, encompassing 84 products across different categories, catering to various tastes and preferences. Gopal Snacks distributes its products to more than 523 locations spanning 10 states and two union territories (UTs).
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