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Business News/ Markets / Ipo/  Gopal Snacks IPO: Price band set at 381-401 per share; check issue details, key dates, more

Gopal Snacks IPO: Price band set at ₹381-401 per share; check issue details, key dates, more

Gopal Snacks IPO price band set at ₹381-401 per share. Subscription from March 6 to 11. Anchor investor allocation on March 5. Lot size of 37 shares. Reserved portions for QIB, NII, retail investors, and employees with a discount.

Gopal Snacks IPO price band has been fixed in the range of ₹381 to ₹401 per equity share of the face value of Re 1. (
Gopal Snacks IPO price band has been fixed in the range of 381 to 401 per equity share of the face value of Re 1. (

The Gopal Snacks IPO price band has been fixed in the range of 381 to 401 per equity share of the face value of Re 1. The Gopal Snacks IPO date of subscription is scheduled for Wednesday, March 6, and will close on Monday, March 11. The allocation to anchor investors for the Gopal Snacks IPO is scheduled to take place on Tuesday, March 5.

The floor price is 381 times the face value of the equity shares and the cap price is 401 times the face value of the equity shares. The price/earnings ratio based on diluted EPS for fiscal 2023 at the floor price is 42.24 times and at the cap price is 44.46 times as compared to the average industry peer group P/E ratio of 121.27. The Gopal Snacks IPO lot size is 37 equity shares and in multiples of 37 equity shares thereafter.

Also Read: Exicom Tele Systems IPO: Issue subscribed 129.54 on last day; retail portion booked 119.59x; check GMP

Gopal Snacks IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved equity shares aggregating up to 3.5 crore. A discount of 38 per equity share is being offered to eligible employees bidding in the employee reservation portion.

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Tentatively, Gopal Snacks IPO basis of allotment of shares will be finalised on Tuesday, March 12, and the company will initiate refunds on Wednesday, March 13, while the shares will be credited to the demat account of allottees on the same day following refund. Gopal Snacks share price is likely to be listed on BSE and NSE on Thursday, March 14.

Also Read: Bharat Highways InvIT IPO subscribed 1.03 times on day 2; check GMP, bidding status, other details

The company's promoters Gopal Agriproducts, Dakshaben Bipinbhai Hadvani, and Bipinbhai Vithalbhai Hadvani.

Under the "Gopal" brand, the company offers a broad range of savoury products. These include fast-moving consumer goods like papad, spices, gramme 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.

The company's listed peers as per the red herring prospectus (RHP) are Bikaji Foods International Ltd (with a P/E of 104.67), and Prataap Snacks Ltd (with a P/E of 137.87).

Between March 31, 2022, and March 31, 2023, Gopal Snacks Limited's profit after tax (PAT) climbed by 170.52% while its revenue increased by 3.1%.

Also Read: M.V.K. Agro Food Product IPO: Day 1 subscription status, GMP and other details

Gopal Snacks IPO details

Gopal Snacks IPO comprises an offer-for-sale (OFS) of equity shares worth 650 crore by the promoters and other investors.

In addition to Gopal Agriproducts Private Ltd (selling shares worth 520 crore) and promoter Bipinbhai Vithalbhai Hadvani (selling shares worth 80 crore), there will be another selling stakeholder, Harsh Sureshkumar Shah (selling shares worth 50 crore).

The Gopal Namkeen IPO's book running lead managers are Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited, and the registrar is Link Intime India Private Ltd.

Also Read: V R Infraspace IPO: Price band, issue size, GMP, key details to know

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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Published: 01 Mar 2024, 08:48 AM IST
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