Gopal Snacks IPO subscribed 9.02 times on Final Day

 The Initial Public Offering of Gopal Snacks Limited was subscribed 9.02 times on the final day of bidding.

The issue received bids of 10,80,83,438 shares against the offered 1,19,79,993 equity shares, at a price band of ₹381-401, according to the data available on the stock exchanges. 

Qualified Institutional Buyer Portion and Non-Institutional Investors Portion was subscribed 17.50 times and 9.50 times respectively. Employee Portion was subscribed 6.87 times, whereas, Retail Portion and 4.01 times.

Intensive Fiscal Services Private Limited, Axis Capital Limited and JM Financial Limited are Book Running Lead Managers to the Offer and Link Intime India Private Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE. 

Company Information

Gopal Snacks Limited (“Company”) is a fastmoving consumer goods company in offering ethnic snacks, western snacks and other products under our brand ‘Gopal’. It was established as a partnership firm in 1999 and subsequently incorporated as a company in 2009. 

The company offer a wide variety of savoury products under the brand ‘Gopal’, including ethnic snacks such as namkeen and gathiya, western snacks such as wafers, extruder snacks and snack pellets, along with fast-moving consumer goods that include papad, spices, gram flour or besan, noodles, rusk and soan papdi which are semi-perishable in nature.

As of September 30, 2023, product portfolio comprised 84 products with 276 SKUs across its various product categories, thereby addressing a wide variety of tastes and preferences. The company have expanded their footprint across India, with their products being sold over 523 locations in ten States and two Union Territories. The Company’s distribution network comprises of three depots and 617 distributors, complemented by its sales and marketing team comprising 741 employees.

The table below shows subscription data for all the categories of investors: 

GOPAL SNACKS LIMITED

Last updated on

11 Mar 2024 | 05:12:00 PM

Sr.No. Category No.of shares offered / reserved No. of shares bid for No. of times of total meant for the category

1 Qualified Institutional Buyers (QIBs) 33,93,700 5,93,89,588 17.50

1(a) Foreign Institutional Investors (FIIs) - 4,02,83,639 -

1(b) Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) - 66,37,763 -

1(c) Mutual Funds - 62,33,797 -

1(D) Others - 62,34,389 -

2 Non Institutional Investors(NIIS) 25,45,276 2,41,73,210 9.50

2.1 Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) 16,96,850 1,72,82,145 10.18

2.1(a) Corporates - 1,63,873 -

2.1(b) Individuals (Other than RIIs) - 1,46,85,892 -

2.1(c) Others - 24,32,380 -

2.2 Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees) 8,48,426 68,91,065 8.12

2.2(a) Corporates - 27,343 -

2.2(b) Individuals (Other than RIIs) - 59,65,658 -

2.2(c) Others - 8,98,064 -

3 Retail Individual Investors (RIIs) 59,38,977 2,38,19,379 4.01

3(a) Cut Off - 2,05,36,480 -

3(b) Price Bids - 32,82,899 -

4 Employee Reserved 1,02,040 7,01,261 6.87

4(a) Employee (Cut off) - 6,54,160 -

4(b) Employee (Price) - 47,101 -

5 Reservation PortionShareholder - - -

5(a) RPS (Cut off) - - -

5(b) RPS (Price) - - -

Total 1,19,79,993 10,80,83,438 9.02