Gopal Snacks IPO Gets Starters From Anchors

Gathiya King raises Rs. 194 crore from Anchor Investors
MUMBAI, Mar 5 (The CONNECT) – Rajkot-based Gopal Snacks Limited has garnered Rs. 193.94 crores from anchor investors ahead of its initial public offering that opens for public subscription tomorrow. The company informed the bourses that it allocated 48,36,657 equity shares at Rs. 401 per share on Tuesday, March 05, 2024, to anchor investors.
Foreign and Domestic Institutions who participated in the anchor were Ashoka White Oak, White Oak MF, DSP MF, Quant MF, IIFL Wealth & Asset Management (360 One), Natixis, BNP Paribas, OptiMix Global Emerging Markets Share Trust, Edelweiss MF, HDFC Life Insurance, ITI MF, Leading Light Fund, Bay Capital, BoFA Securities and Copthall Mauritius
Out of the total allocation of 48,36,657 equity shares to the anchor investors, 16,95,455 were allocated to 5 domestic mutual funds through a total of nine schemes amounting to Rs. 67.98 crore (approx.) i.e. 35.05 % of the Total Anchor Book Size.
Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited are the book-running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on the BSE and NSE.
IPO Details: The issue is entirely an offer for sale (OFS) aggregating to Rs 650 crore.
The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Wednesday, March 06, 2024, and closes on Monday, March 11, 2024. The price band for the Offer has been determined at Rs 381 – Rs 401 per equity share.
Investors can bid for a minimum of 37 equity shares and in multiples of 37 equity shares thereafter.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Investors.