Gopal Snacks IPO Gets Sumptuous Response, Issue Subscribed 9x

The company offers a wide variety of savoury products such as namkeen and gathiya, wafers, extruder snacks and snack pellets, papad, spices, gram flour, noodles, rusk and soan papdi
MUMBAI, Mar 12 (The CONNECT) – 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 is a fastmoving consumer goods company 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 offers 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.