Gopal Snacks IPO listing on March 14: Key things to know
Upstox
2 min read • Updated: March 14, 2024, 8:52 AM
Summary
Gopal Snacks IPO, which will list on Thursday, received a solid response from investors and was subscribed 9.02 times. The ₹650 crore issue is entirely an offer for sale by promoters and existing investors.
Gopal Snacks shares will list on the BSE and NSE on Thursday, March 14. The initial public offering (IPO) of the FMCG (fast moving consumer goods) company was open for subscription from March 6 to March 11.
Key things to know about Gopal Snacks IPO
- Gopal Snacks IPO received a good response from investors and was subscribed 9.02 times.
- The retail investors bid 4.01 times the quota allotted and non-institutional buyers 9.5 times the reserved portion, while qualified institutional buyers bought 17.50 times.
- The price band has been fixed at ₹381-₹401 per equity share.
- The ₹650 crore issue is entirely an offer for sale by promoters and existing investors.
- The Rajkot-based food products maker company raised ₹193.94 crore from the anchor investors.
About Gopal Snacks Limited
Gopal Snacks offers ethnic and western snacks, including gathiya, wafers, namkeen and other products. Established in 2009, the company sells under the 'Gopal' brand name in 10 states and 2 union territories.
As of September 30, 2023, the company's portfolio comprises 84 products, with 276 SKUs (stock-keeping units) across various categories that cater to different preferences.
With an annual installed capacity of 404,729 metric tonnes, Gopal Snacks operates six manufacturing plants across Gujarat and Maharashtra. The company also engages with third-party manufacturers to produce chikki, nachos, noodles, rusk, and soan papdi as needed.
The company's distribution network consists of three depots, 617 distributors, a sales and marketing team with 741 employees, and a fleet of 263 logistics vehicles as of Q2 FY24.
Between FY21 and FY23, the company's revenue from operations at a compound annual growth rate (CAGR) of over 7%, and its profit increased by 74%. Between Q2 FY23 and Q2 FY24, the company's revenue from operations dropped at a CAGR of 3%, while its profit rose at a CAGR of 6%.
According to the company’s IPO document, the Indian market for savoury snacks is expected to grow at a CAGR of approximately 11% between FY23 and FY27, which could benefit the company.