Gopal Snacks IPO: Investors Munch A 9.02x Demand On Final Subscription Day

Gopal Namkeen is a main-board Initial Public Offering (IPO) of an aggregating amount of up to Rs 650.00 crores. The issue is entirely an offer for sale (OFS) of 1.62 crore shares. The subscription period for the book-built issue opened on March 6, 2024, and ends today, March 11, 2024. On the last day of bidding, Gopal Snacks Limited's initial public offering was subscribed 9.02 times. Based on information available on the stock exchanges, the offering received bids of 10,80,83,438 shares against the offered 1,19,79,993 equity shares, at a price range of Rs 381-401.

The proportion of qualified institutional buyers was subscribed 17.50 times, while the portion for non-institutional investors was subscribed 9.50 times. Retail Portion was subscribed to 4.01 times, while Employee Portion was 6.87 times.

The offer's registrar is Link Intime India Private Limited, and the IPO's book-running lead managers are Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited. On Tuesday, March 12, 2024, the allocation of shares for the Gopal Namkeen IPO is anticipated to be finalised. The Gopal Namkeen Initial Public Offering (IPO) is scheduled to go public on the BSE and NSE on Thursday, March 14, 2024.

The price band of Gopal Namkeen IPO is Rs 401 per share. Retail investors must invest a minimum of Rs14,837 since the minimum lot size for an application is 37 shares. For sNII, the minimum lot size investment is 14 lots of 518 shares worth Rs 207,718; for bNII, it is 68 lots of 2,516 shares representing Rs 1,008,916 minimum investment.

Gopal Namkeen IPO raised Rs 193.95 crore from anchor investors on the bidding date completed on March 5, 2024. 3,224,439 shares, or 19.88% of the net issue, is offered to QIB; 2,418,329 shares, or 14.91% of the net issue, is offered to NII; 5,642,768 shares, or 34.79% of the net issue, has been reserved for retail investors; 96,419 shares, or 0.59% of the net issue, has been set aside for employees; and 4,836,657 shares, or 29.82% of the net issue, is reserved for anchor investors. These are the share allocations that are offered in the Gopal Namkeen initial public offering (IPO).

Gopal Snacks Limited is a rapidly expanding consumer goods firm that sells a variety of items under the "Gopal" brand, including Western and ethnic snacks. It was first founded in 1999 as a partnership firm, and in 2009 it became a company. With 84 products and 276 SKUs in its different product categories as of September 30, 2023, the product portfolio catered to a wide range of tastes and preferences. With more than 523 outlets selling its products in 10 States and two Union Territories, the firm has grown its presence throughout India. The company employs 741 individuals working in sales and marketing, in addition to its three depots and 617 distributors that make up its distribution network.

The Gopal Snacks IPO's latest GMP as of March 11, 2024, 09:58 PM is Rs 10. The anticipated listing price of the Gopal Snacks IPO considering the 401.00 upper price band, is Rs 411 (cap price + today's GMP). Thus, according to market observers, the anticipated listing price of Gopal Snacks Limited represents a premium of 2.49% based on today's GMP according to investorgain.com.