Gopal Snacks Share Price: Stock lists with nearly 13% discount

Gopal Snacks Share Price: Shares of Gopal Snacks Ltd on Thursday made a muted market debut with a discount of nearly 13 per cent. The stock got listed at Rs 350, down 12.71 per cent from the issue price of Rs 401, on the BSE. It further tanked 14.71 per cent to Rs 342.

At the NSE, shares of the company started the trade at Rs 351, a discount of 12.46 per cent.

However, the stock gained ground and surged to Rs 384.95. Last seen, the counter was trading at Rs 361.70. 

At the time of filing the story, the company commanded a market valuation of Rs 4,450 crore.

Earlier, the Initial Public Offer (IPO) of Gopal Snacks received 9.02 times subscription on Monday, the last day of bidding.

The initial share sale had an offer for sale of up to Rs 650 crore.

The IPO was entirely an OFS (Offer For Sale) of equity shares by promoters and other selling shareholders. The price range for the offer was at Rs 381-401 a share.

As of September 2023, the namkeen makers' products were sold in 10 states and 2 union territories. It has a network of 3 depots and 617 distributors.

The company operates three manufacturing facilities -- Rajkot and Modasa in Gujarat, and Nagpur in Maharashtra.

Furthermore, it runs three ancillary manufacturing facilities that mostly produce 'besan', raw snack pellets, seasoning, and spices. These are mainly used internally to make finished products like namkeen, gathiya, and snack pellets.

With PTI Inputs