The Gopal Snacks Limited IPO, scheduled to commence its public issue on Wednesday, March 06, 2024, has set the price band for its equity shares at a range of Rs 381 to Rs 401 each, bearing a face value of Rs 1 per share, to garner funds of up to Rs 650 crore.
Interested investors can participate in the IPO from March 06 to March 11, 2024. The minimum bid size starts at 37 equity shares, with further bids to be placed in multiples of 37 shares.
For retail investors, the minimum investment stands at Rs 14,837. Non-institutional investors (NII) need to commit to a minimum lot size of 14 lots (518 shares), equivalent to Rs 207,718. Meanwhile, big non-institutional investors (bNII) are required to invest in 68 lots (2,516 shares), totaling Rs 1,008,916.
The allotment process for the Gopal Snacks Limited IPO is anticipated to conclude by Tuesday, March 12, 2024. The IPO is slated to be listed on both the BSE and NSE, with a tentative listing date earmarked for Thursday, March 14, 2024.
The IPO follows the Book Building Process, with a maximum of 50 percent of the net offer allocated proportionately to Qualified Institutional Buyers (QIBs). Non-Institutional Investors (NIIs) are earmarked at least 15 percent of the net offer, while Retail Individual Investors (RIIs) are allotted a minimum of 35 percent of the net offer.
Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited are serving as the book-running lead managers, while Link Intime India Private Limited has been appointed as the Registrar to the Offer.
Company Overview:
Originally established as a partnership firm in 1999, Gopal Snacks Limited evolved into a full-fledged company in 2009. Positioned as a key player in the fast-moving consumer goods (FMCG) sector, the company specializes in offering a diverse range of snacks under its renowned brand 'Gopal', catering to both conventional and contemporary palates.
As of September 30, 2023, the company boasts a robust product portfolio comprising 84 items across 276 Stock Keeping Units (SKUs), accessible to consumers through 523 outlets spanning ten states and two Union Territories. With an extensive distribution network encompassing three depots, 617 distributors, and a dedicated sales and marketing team comprising 741 employees, Gopal Snacks Limited operates six manufacturing facilities strategically located across India, including primary ones situated in Rajkot, Modasa (Gujarat), and Nagpur (Maharashtra), ensuring its capability to meet the burgeoning demand for its offerings.
