Gopal Snacks’ IPO opens on March 6 at a Price band at ₹381-₹401 apiece for Rs 650 cr OFS
MUMBAI, Mar 1 (The CONNECT) – Rajkot-based Gopal Snacks Limited is going public at the price band at ₹381 to ₹401 per equity share of face value of ₹1 each for its initial public offer. The company’s Initial Public Offering (IPO) will open between March 06, and March 11, 2024. Investors can bid for a minimum of 37 Equity Shares and in multiples of 37 Equity Shares thereafter. The issue is entirely an offer for sale aggregating up to ₹650 crore.
Gopal Snacks Limited is a fast moving 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, said Bipinbhai Vithalbhai Hadvani, CMD, Gopal Snacks Limited.
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 Company operates six manufacturing facilities in India, two of the three of primary manufacturing facilities located in Rajkot and Modasa in Gujarat and one in Nagpur, Maharashtra. Three ancillary manufacturing facilities located in Rajkot (I,II) and Modasa. The ancillary manufacturing facilities located in Gujarat focuses on producing besan or gram flour, raw snack pellets, seasoning and spices which are primarily used for captive consumption in the manufacturing of finished products such as gathiya, namkeen and snack pellets at their primary manufacturing facilities.
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.
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.
Gathiya King Gopal Snacks Has New Offering – IPO
