Thursday, March 14, 2024

Gopal Snacks Limited IPO debuts on the stock exchange


Shares of Rajkot-based Namkeen Maker Gopal Snacks Limited made its debut on the exchange. 

The scrip listed Rs 350 per share on BSE and Rs 351 per share on NSE. The company's share price closed at Rs 360.05 per share on the BSE and at Rs 365.90 per share on the NSE.

As per NSE, the total quantity traded stood at 84.63 lakh shares, on BSE the total Quantity stood at 5.47 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 330.94 crore. 

The Market Capitalization of the Company at today’s closing price stood at Rs. 4,486.38 Crore as per BSE and Rs. 4,559.27 Crore as per NSE.

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

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.

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.

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