2024-03-02 09:38:53
New Delhi: The IPO of Rajkot-based company Gopal Snacks, which makes namkeen, chips and snacks, is opening on Wednesday next week. The company has fixed the price band of one share with face value of Re 1 at Rs 381 to Rs 401. Anchor investors will be able to bid in this a day in advance.
What is the floor price?
The floor price of this IPO is 381 times the face value of the equity shares. Its cap price is 401 times the face value of the equity shares. The lot size of Gopal Snacks IPO is 37 equity shares i.e. investors will have to buy minimum 37 shares in one lot. Above this, bidding will have to be done in multiples of the same number of shares.
Reservation for retail investors
Gopal Snacks has not reserved more than 50 percent of the shares in the public issue for Qualified Institutional Buyers (QIB) in the IPO. Apart from this, 15 percent shares have been reserved for Non-Institutional Institutional Investors (NII) and 35% for retail investors. Equity shares totaling up to Rs 3.5 crore have been reserved for the employee portion. A discount of Rs 38 per equity share is being offered to eligible employees bidding in the employee reservation portion.
What is the IPO size?
Gopal Snacks IPO involves an offer for sale (OFS) of equity shares worth Rs 650 crore by promoters and other investors. According to the information received from the company, the IPO allotment of Gopal Snacks will be finalized on Tuesday i.e. March 12 and the company will start refunding from Wednesday, March 13 to those investors who did not get the IPO. The shares will be credited to the demat account of the applying investors on the same day after refund.
Who are the promoters of the company?
The promoters of the company are Gopal Agri Products, Dakshaben Bipinbhai Hadwani and Bipinbhai Vitthalbhai Hadwani. The foundation of this organization was laid in the year 1999 as a partnership firm. It was given the form of a company in the year 2009. This company sells different products under the brand “Gopal”. These include papad, spices, namkeen made from gram flour or gram flour, noodles, rusk and soan papdi, as well as snacks like namkeen and gathiya and western snacks like wafers, extruded snacks and snack pellets.
How many products are there in its portfolio?
On September 30 last year, the company’s portfolio included 84 products. At present its reach is 523 locations in 10 states and two union territories of the country. The company has three depots and 617 distributors across the country. At present, the company’s production units are running in Rajkot and Modasa in Gujarat and one in Nagpur in Maharashtra.
Who are the lead managers of the issue?
The book running lead managers of this IPO offer include Intensive Fiscal Services Private Limited, Axis Capital Limited and JM Financial Limited. Link Intime India Private Limited has been made the registrar for this offer. After allotment of IPO, shares will be listed in BSE and NSE.