The initial public offering (IPO) of Gopal Snacks Limited, valued at Rs 650 crore, commenced trading on Dalal Street and opened for public subscription on Wednesday, March 6, 2024.
As of the latest update, the company has garnered an overall subscription of 0.35 times. Currently, the IPO has garnered bids for 40,00,366 shares out of the total 1,13,81,955 shares available.
The pricing range established for the company's equity shares falls between Rs 381 and Rs 401 each, with a nominal value of Rs 1 per share.
Potential investors have the opportunity to participate in this IPO from March 6 to March 11, 2024. The initial bid begins at 37 equity shares, with subsequent bids to be placed in multiples of 37 shares.
Regarding the advisability of subscribing to the IPO, Master Capital Services Limited suggested that investors may consider subscribing for a medium to long term.
"Investors seeking investment opportunities may consider participating in this IPO with a medium to long-term outlook," they stated.
They emphasized Gopal Snacks' extensive product range tailored to suit Indian palates under the well-known "Gopal" brand. They also highlighted the company's robust brand recognition, particularly in its primary market of Gujarat, as a distinguishing factor in the competitive market landscape.
The most recent Grey Market Premium (GMP) for the Gopal Snacks IPO is Rs 47. With a price range of Rs 401, the anticipated listing price for the IPO is estimated to be Rs 448 (the upper price limit + today's GMP). This suggests an expected percentage gain or loss per share of 11.72 percent.
