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  1. Gopal Snacks IPO bidding ends today: Check out allotment, listing date and other key details

Gopal Snacks IPO bidding ends today: Check out allotment, listing date and other key details

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3 min read • Updated: March 11, 2024, 3:53 PM

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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.

Key things to know about Gopal Snacks IPO

Gopal Snacks IPO Price Band: The company fixed the price band for the IPO at ₹381 to ₹401 per equity share of the face value of ₹1.

Gopal Snacks IPO Lot Size: The IPO's minimum lot size is 37 equity shares. Retail investors require a minimum of ₹14,837 to bid for one lot.

Gopal Snacks IPO Quota: The IPO includes a reservation of not more than 50% for QIBs, not less than 15% for NIIs and not less than 35% for retail investors. The company has set aside up to 96,419 shares worth up to ₹3.5 crore for eligible employees, who are offered a discount of ₹38 per equity share.

Gopal Snacks IPO Allotment: The allotment of shares will be finalised on March 12. Refunds for the non-allottees will be initiated on March 13. Successful bidders will receive shares in their demat account on March 13.

Gopal Snacks IPO Listing: Shares of the company are scheduled to be listed on NSE and BSE on March 14.

Gopal Snacks IPO Promoters and Other Details: Gopal Agriproducts, Dakshaben Bipinbhai Hadwani and Bipinbhai Vitthalbhai Hadwani are Gopal Snacks' promoters. The promoters hold a 93.5% stake in the company presently.

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.

Also Read: Eight IPOs to hit markets this week: 2 mainboard, 6 SME IPOs

About Gopal Snacks

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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