Gopal Snacks IPO Opens for Subscription: Retail Investors Show Initial Interest

6 Mar 2024 , 12:25 PM

Gopal Snacks IPO is now open for subscription starting from today, Wednesday, March 6, and will continue until Monday, March 11. The IPO price band has been set between ₹381 to ₹401 per equity share. Interested investors can subscribe to the IPO by clicking on the provided link.

On the first day of the IPO, the issue has received a subscription of 0.24 times. Notably, the retail portion has been subscribed 0.41 times, while the non-institutional investors’ portion has garnered a subscription of 0.14 times. Additionally, a portion has been reserved for employees, which has been oversubscribed 0.88 times.

It’s important to note that the public issue is solely an offer-for-sale of equity shares worth up to ₹650 Crore by promoters and other selling shareholders, with no fresh issue of shares. Consequently, the proceeds from the IPO will be directed to the selling shareholders. The offer for sale includes up to ₹100 Crore by Bipinbhai Vithalbhai Hadvani, up to ₹540 Crore by Gopal Agriproducts Private Ltd (promoter), and up to ₹10 Crore by Harsh Sureshkumar Shah (other selling shareholder).

Gopal Snacks specializes in manufacturing both ethnic and western snacks, encompassing a diverse range of products such as gathiya, wafers, extruded snacks, and snack pellets. With a portfolio comprising 276 stockkeeping units and 84 products across various categories, the company caters to a broad spectrum of tastes and preferences.