Gopal Snacks IPO To Open On March 6: Price Band, GMP & Other Details

For its initial public offering, Rajkot-based Gopal Snacks Limited has set the price band at Rs 381 to Rs 401 per equity share with a face value of Rs 1. The company's Initial Public Offering (IPO) will begin accepting subscriptions on March 6, 2024, and end on March 11, 2024, a Monday. The Gopal Snacks initial public offering (IPO) comprises 16,209,476 equity shares with a face value of Rs 1 amounting to a fundraising of up to Rs 650.00 Crores. The book-built issue is entirely an offer for sale (OFS) of 1.62 crore shares.

Investors can bid for a minimum of 37 equity shares and in multiples of 37 equity shares thereafter as per the DRHP. As a result, regular investors have to invest a minimum of Rs 14,837. For sNII, the minimum lot size investment is 14 lots of 518 shares representing a subscription amount of Rs 207,718; for bNII, it is 68 lots of 2,516 shares, or Rs 1,008,916 required for bidding.

A minimum of 15% of the net offer will be allocated to non-institutional investors (NIIs), a minimum of 35% will be allocated to retail individual investors, and a maximum of 50% of the net offer will be made available for allocation on a proportionate basis to qualified institutional buyers (QIB).

On Tuesday, March 12, 2024, it is anticipated that the allocation of shares for the Gopal Namkeen IPO will be completed. The proposed listing date for the Gopal Namkeen IPO is Thursday, March 14, 2024, and it will take place on the BSE and NSE.

The offer's registrar is Link Intime India Private Limited, and its book running lead managers are Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited.

Under the "Gopal" brand, Gopal Snacks Limited is a fast-moving consumer goods firm that provides western and ethnic snacks as well as other products. 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. Six manufacturing facilities are run by the company in India; two of the three main plants are in Gujarat, in Rajkot and Modasa, and one is in Nagpur, Maharashtra.

The latest GMP (Grey Market Premium) for the Gopal Snacks IPO, according to the grey market, was Rs 120 as of March 2, 2024, 06:03 AM. The expected listing price of the Gopal Snacks IPO, with a price band of 401.00, is Rs 521 (upper price band + today's GMP). Thus, the grey market observers estimate that the Gopal Snacks IPO will have a listing premium of 29.93% over the issue price based on the current GMP only.