Gopal Snacks IPO subscribed 9x on Day 3; check out allotment date, other key details here

Gopal Snacks IPO: Gopal Snacks, a Rajkot-based manufacturer of ethnic savouries, launched an initial public offer (IPO) on Wednesday, March 6. The IPO of the snacks maker, which produces a wide range of products including 'gathiya', will be available for subscription from 10 am to 5 pm for three trading days, till March 11.

The Gopal Namkeen IPO comprises an offer for sale (OFS) of 1.62 crore shares, worth an estimated Rs 650 crore, by promoters and existing shareholders.

Gopal Snacks subscription status

According to provisional exchange data, Gopal Snacks IPO's share sale received bids for 10,81,08,746 shares against 1,19,79,993 shares on offer, translating into a subscription of 9.02 per cent on Monday, the third day of the bidding process.

Here are important things to know about the upcoming Gopal Snacks IPO:

Gopal Snacks IPO allotment date

The basis of the allotment of shares under the IPO is set to be finalised tentatively on March 12.

Gopal Snacks IPO listing date

The Gopal Snacks IPO stock is likely to be listed on stock exchanges BSE and NSE tentatively on March 14. 

Gopal Snacks IPO lot size, price band

The issue is a price band of Rs 381-401 per share.

Investors can place bids in multiples of 37 equity shares, with the option to bid in increments of 37 equity shares thereafter, translating to a minimum investment of Rs 14,837 per lot. 

While 50 per cent of the issue has been reserved for qualified institutional buyers (QIBs), 35 per cent is meant for retail investors, and the remaining 15 per cent for non-institutional investors (NIIs).

Gopal Snacks IPO: Book-running lead managers

Intensive Fiscal Services, Axis Capital and JM Financial are the book-running lead managers to the IPO.

Gopal Snacks IPO: Registrar

Link Intime India Private Ltd is the registrar for the issue.

What does Gopal Snacks do?

Founded in 1999, Gopal Snacks is a fast-moving consumer goods company, offering namkeen, western snacks, and other products across domestic and foreign markets. As of September 2023, the company sold its products in 10 states and two Union Territories, with a network of tree depots and 617 distributors.

The company operates three manufacturing facilities, one each in Rajkot and Modasa in Gujarat, and one in Nagpur in Maharashtra. It also runs three ancillary manufacturing facilities that mostly produce besan, raw snack pellets, seasoning, and spices. 

With inputs from agencies

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