Market News
4 min read | Updated on March 06, 2024, 13:08 IST
SUMMARY
The Gopal Snacks IPO share allotment is expected to be finalised on Tuesday, March 12. Gopal Snacks shares are tentatively scheduled to get listed on NSE and BSE on March 14, 2024.
Gopal Snacks shares are tentatively scheduled to get listed on NSE and BSE on March 14, 2024.
Gopal Snacks IPO opened for subscription on Wednesday, March 6. The bidding for the IPO will close on Monday, March 11. On the first day, the IPO was booked 24% till 12:20 pm. The IPO received bids for a total of 29 lakh shares against 1,19,79,993 shares available for subscription, as per NSE data.
Gopal Snacks IPO, a book-built issue of ₹650 crore, is entirely an offer for sale (OFS) of 1.62 crore shares. The Rajkot-based company raised ₹193.94 crore from anchor investors by allotting 48,36,657 equity shares at the rate of ₹401 per share on Tuesday, March 5. Gopal Snacks IPO involves an offer for sale (OFS) of equity shares worth ₹650 crore by promoters and other investors.
Intensive Fiscal Services, Axis Capital and JM Financial are the book-running lead managers of the IPO, while Link Intime India is the registrar to the public issue.
The company's promoters are Gopal Agriproducts, Dakshaben Bipinbhai Hadwani and Bipinbhai Vitthalbhai Hadwani. Their shareholding pre-IPO stood at 93.5%
Gopal Snacks, started in 1999, is a leading FMCG company that deals in ethnic and Western snacks, as well as other products in India and internationally.
Gopal Snacks sells different products under the brand name 'Gopal'. These include fast-moving consumer goods such as papad, spices, gram flour or gram flour, noodles, rusk and soan papdi, as well as snacks such as namkeen and gathiya and other snacks such as wafers, extruded snacks and snack pellets.
As of November 2023, the company has 276 SKUs along with 84 products from different categories, catering to various tastes and preferences. As of September 2023, Gopal Snacks has sold its products to over 523 locations across 10 states and two union territories (UTs).
The company’s profit after tax (PAT) grew 170.52% between March 31, 2022, and March 31, 2023, while its revenue expanded 3.1%. The company's total borrowings stood at ₹106.37 crore as of March 31, 2023.
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