Gopal Snacks IPO closing on March 11: Here are 10 things to guide you on last day of bidding

GopaL Snacks gives investors an opportunity to invest in a prominent consumer goods company in India offering ethnic snacks, western snacks and other products under its own brand "GOPAL". The company offers a wide array of savoury snacks, catering to varied consumer tastes and preferences. After taking into account, "all the limitations we recommend investors to “SUBSCRIBE” the Gopal Snacks Ltd IPO for Long term perspective," said Mehta equities.

Written by Sparsh Bansal

March 11, 2024 14:10 IST

Gopal Snacks is a prominent FMCG company in India, specializing in ethnic and western snacks. Operating in 10 states and 2 union territories, it offers a diverse range of savoury products under the brand 'Gopal', said Mehta Equities in an IPO note.

March 11 is the last date to apply for Gopal Snacks IPO. The bidding for the issue was opened on March 6. The company is in the business of snacks and namkeen and is the largest manufacturer of a Gujarati namkeen called gathiya. The company not only produces snacks for India but also exports internationally to many countries. It also makes Western snacks like wafers, extruded snacks, and snack pellets. The company currently has six manufacturing units based in Maharashtra and Gujarat.

Here are 10 things to know before applying:

IPO size: The company will raise Rs 650 crore from the investors.

Shares offered: The company is offering 16.2 million shares to the investors, totally an offer for sale.

Listing: The company’s shares will be listed on both BSE and NSE and are expected to be listed by March 14.

Price band: The company set the price band in the range of Rs 381 to 401 per equity share with a face value of Rs 1.

Minimum investment: A retail investor will have to invest Rs 14,837 or will have to buy 37 shares of the company.

BRLM: Intensive Fiscal Services, Axis Capital, and Jm Financial are the lead-running book managers for the issue.

Registrar: Link Intime India is the registrar for the IPO of Gopal Snacks.

Anchor investor: The company raised Rs 193.95 crore from the anchor investors by offering them 4.8 million shares.

Objective to raise money: As it is entirely an offer for sale the company will not receive a single rupee from the raised funds. The collected money will go into the pockets of selling shareholders.

GMP: The stocks of the company were seeing a 2.5% premium in the grey market ahead of listing.

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This article was first uploaded on March eleven, twenty twenty-four, at ten minutes past two in the afternoon.