Gopal Snacks IPO: Subscription Status, GMP, And Other Details

The Gopal Snacks IPO opened for subscription on March 6 and is set to close today, March 11. The Gopal IPO, with a price band of ₹381 to ₹401 per share, is expected to raise around ₹193.94 crores. The minimum lot size for an application is 37 shares, requiring a minimum investment of ₹14,837 by retail investors.

Gopal Snacks IPO Subscription Status

The Gopal Snacks IPO has seen a mixed response from different categories of investors. As of 11:09 am today, the total subscription stands at 1.95 times. The retail individual investors’ (RIIs) portion was oversubscribed by 2.68 times, while the non-institutional investors’ (NII) portion saw an oversubscription of 2.60 times. However, the portion reserved for Qualified Institutional Buyers (QIBs) has only been subscribed 0.10 times so far. The employees’ category has shown a strong response with an oversubscription of 4.70 times.

Gopal Snacks IPO GMP

The Gopal Snacks IPO GMP is reported at ₹24. With the price band of ₹401, Gopal Snacks IPO could list at ₹425 an around 5.99% premium. However, investors should note that IPO GMPs are merely indicative and should not be the sole factor in deciding the company’s performance upon listing.

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Gopal Snacks IPO Details

The Gopal Namkeen IPO comprises solely of a fresh issue, with no Offer for Sale (OFS) component. The company plans to use the net proceeds from the IPO for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and general corporate purposes.

Prior to the IPO launch, Gopal Namkeen successfully secured ₹193.94 crores from anchor investors on March 5, 2024, by allocating 48,36,657 equity shares at ₹401 per share. The IPO’s allocation structure reserves 50% for QIBs, 35% for retail investors, and 15% for NIIs.

Gopal Snacks

Established in 1999, Gopal Namkeen is an FMCG company that specializes in ethnic and Western snacks. The company’s product portfolio includes namkeen, gathiya, wafers, extruded snacks, snack pellets, papad, spices, gram flour or besan, noodles, rusk, and soan papdi. As of November 2023, Gopal Namkeen had 276 SKUs along with 84 products from different categories, catering to various tastes and preferences.

Gopal Snacks IPO Listing

The shares of Gopal Namkeen are expected to be listed on both the BSE and NSE on Thursday, March 14, 2024.

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