Gopal Snacks IPO Subscribed 9.50 Times on the Last Day of Subscription

Gopal Snacks IPO was open for subscription on March 6, 2024, and closed on March 11, 2024. The IPO is a book-built issue of ₹650 crore. The issue is entirely an offer for the sale of 1.62 crore shares. The allotment for the IPO is likely to be finalised on March 12, 2024. Gopal Namkeen’s IPO will be listed on BSE and NSE on March 14, 2024.

The company offered 1,62,18,612 shares. Out of those, 32,24,439 (19.88%) to QIB, 24,18,329 (14.91%) to NII, 56,42,768 (34.79%) to RII, 96,419 (0.59%) to employees and 48,36,657 (29.82%) to Anchor investors. 1,52,507 RIIs will receive a minimum of 37 shares, and 1,637 Small High Net Worth Investors (sNII) and 3,112 Big High Net Worth Investors (bNII) will receive a minimum of 518 shares. (in case of oversubscription).

About Gopal Snacks Limited

Gopal Snacks Limited is an FMCG company founded in 1999 that deals with ethnic and Western snacks and other products in India and internationally. It provides a variety of snack products, including ethnic snacks like namkeen and gathiya, as well as Western snacks such as wafers, extruded snacks, and snack pellets. The company also deals in fast-moving consumer goods such as papads, spices, gram flour or besan, noodles, rusk, and soan papdi.

The company had 276 SKUs along with 84 products from different categories, catering to various tastes and preferences as of November 2023. As of September 2023, Gopal Snacks has sold its products to over 523 locations across 10 states and two Union Territories.

Day Wise Subscription

• On the 1st day of subscription, i.e. March 06, 2024, the IPO was subscribed 0.61x in total. QIBs subscribed 0.00x, NIIs 0.52x, retail investors subscribed 0.97x, while employees subscribed 1.81x.
• On the 2nd day of subscription, i.e. March 07, 2024, Gopal Snacks IPO witnessed a growth in subscription to 1.48x in total. This comprised QIB’s subscription of 0.10x, NIIs 1.71x, retail 8.73x and employee 3.45x.
• On the 3rd day of subscription, i.e. March 11, 2024, the IPO was subscribed to 9.50x in total. This comprised QIB’s subscription of 18.42x, NIIs 10.00x, retail investors subscribed to 4.22x, and employee quota subscribed to 7.27x.

Allocation to Anchor Investors

Gopal Snacks IPO GMP

Currently, the grey market premium for Gopal Snacks IPO is ₹13. With a price band of ₹401.00, Gopal Snacks IPO’s estimated listing price is ₹414. The expected percentage gain/loss per share is 3.24%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.