The process of allotment for the initial public offering (IPO) of Gopal Snacks Limited is anticipated to conclude by Tuesday, March 12, 2024. The IPO, which closed on Monday, March 11, 2024, witnessed robust interest from investors, resulting in an oversubscription of 9.50 times.
With a total offer size of Rs 650 crore, the IPO was open for subscription from Wednesday, March 6, 2024. The response from investors was notable, with bids received for 10,80,83,438 shares out of the 1,13,81,955 shares available.
Breaking down the subscription data, the retail category saw a subscription of 4.22 times, while the Qualified Institutional Buyer (QIB) category was oversubscribed by 18.42 times, and the Non-Institutional Investor (NII) category by 10.00 times.
Gopal Snacks Limited had set the price range for its equity shares at Rs 381 to Rs 401 each, with a face value of Rs 1 per share.
As for the Grey Market Premium (GMP), it is currently reported at Rs 14 for the Gopal Snacks IPO. Considering the upper price band of Rs 401, the anticipated listing price stands at Rs 415 (comprising the cap price and today's GMP), reflecting a potential gain/loss per share of 3.49 percent.
Details regarding allotment and listing are expected to be finalized by Tuesday, March 12, 2024. The IPO is slated to be listed on both the BSE and NSE, tentatively scheduled for Thursday, March 14, 2024.
Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited serve as the book-running lead managers for the IPO, with Link Intime India Private Limited acting as the Registrar to the Offer.
Gopal Snacks Limited, established initially as a partnership firm in 1999 and later incorporated as a company in 2009, occupies a prominent position in the fast-moving consumer goods sector. Operating under the brand 'Gopal', the company specializes in a diverse range of snacks tailored to varied preferences.
As of September 30, 2023, Gopal Snacks Limited boasted a product portfolio comprising 84 items across 276 SKUs, distributed through 523 locations in ten states and two Union Territories. With six manufacturing facilities strategically located across India, including in Rajkot, Modasa (Gujarat), and Nagpur (Maharashtra), the company is well-equipped to meet the demand for its products.
