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Business News/ Markets / Ipo/  Gopal Snacks gets SEBI nod to raise 650 crore via IPO
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Gopal Snacks gets SEBI nod to raise ₹650 crore via IPO

The shares are offered at a face value of ₹1 and is entirely an offer for sale of equity shares worth up to ₹650 crore by promoters and other selling shareholders with no fresh issue of shares.

Global Snacks Limited IPO. Photo: iStock (iStock)Premium
Global Snacks Limited IPO. Photo: iStock (iStock)

Rajkot-based ethnic snack company Gopal Snacks Limited, on Tuesday, received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise 650 crore through an initial public offering (IPO).

The company, which offers namkeen, western snacks, and other products across India and internationally, had filed preliminary IPO papers with Sebi on November 21, 2023.

Also read: Zenith Drugs IPO to open on February 19: Check price band, key dates, other details

The shares are offered at a face value of 1 and is entirely an offer for sale of equity shares worth up to 650 crore by promoters and other selling shareholders with no fresh issue of shares. 

The offer for sale comprises up to 100 crore by Bipinbhai Vithalbhai Hadvani, up to 540 crore by Gopal Agriproducts Private Limited (Promoter Selling Shareholders), and up to 10 crore by Harsh Sureshkumar Shah (Other Selling Shareholder). The offer also includes a reservation for subscription by eligible employees.

Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited, are the book-running lead managers, and Link Intime India Private Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.

Also read: Kalahridhaan Trendz IPO: Price band, issue size, GMP, key details to know

The company claims to be the largest manufacturer of snack pellets and gathiya in terms of production volume and sales revenue, and ranks fourth largest brand in the organized sector of ethnic savouries (including gathiya) in terms of market share in India.

Under the "Gopal" brand, the company sells an average of 8.01 million packets per day, which has a wide range of savouries products, including fast-moving consumer goods like papad, spices, gram flour or besan, noodles, rusk, and soan papdi, as well as ethnic snacks like namkeen and gathiya and western snacks like wafers, extruded snacks, and snack pellets. Its product portfolio comprises of 84 products with 276 SKUs.

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Published: 13 Feb 2024, 05:51 PM IST
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