Gopal Snacks IPO subscription status: From where it left off on day 2, the issue continues to gain momentum on day 3 with some positive response from its investors and Qualified Institutional Buyers (QIBs) subscribing to the issue.
Gopal Snacks IPO subscription status is 9.02 times, at 17:00 IST, as per BSE data. The retail investors portion has been subscribed 4.01 times, Non Institutional Investors (NII) portion has been booked 9.50 times, and QIB portion has been booked 17.50 times, on the third day. The employee portion has been booked 6.87 times.
Despite a slow start on its first day, Gopal Snacks gathered up steam on its second day, as the retail section was fully booked within a few hours of opening. On the second day, the overall subscription rate appeared to be strong and was fully booked.
The overall, Gopal Snacks IPO subscription status was 1.40 times, as per BSE data. The retail investors portion was subscribed 2.01 times, NII portion was booked 1.63 times, and QIB portion was booked 9%, on the second day. The employee portion was booked 3.22 times.
Gopal Snacks IPO subscription status was 56%, as per BSE data, on Day 1. The retail investors portion has been subscribed 89%, NII portion is booked 49%, and QIB portion is yet to be booked. The employee portion has been subscribed 1.64 times.
Gopal Snacks IPO has opened for subscription on Wednesday, March 6, and will close on Monday, March 11. The Rajkot-based company has raised ₹193.94 crores from the anchor investors.
The price band has been fixed in the range of ₹381 to ₹401 per equity share of the face value of Re 1. The lot size is 37 equity shares and in multiples of 37 equity shares thereafter.
The company’s promoters Gopal Agriproducts, Dakshaben Bipinbhai Hadvani, and Bipinbhai Vithalbhai Hadvani.
Under the “Gopal” brand, the company offers a broad range of savoury products. These include fast-moving consumer goods like papad, spices, gramme flour or besan, noodles, rusk, and soan papdi, as well as ethnic snacks like namkeen and gathiya and western snacks like wafers, extruded snacks, and snack pellets.
The company’s listed peers as per the red herring prospectus (RHP) are Bikaji Foods International Ltd (with a P/E of 104.67), and Prataap Snacks Ltd (with a P/E of 137.87).
Between March 31, 2022, and March 31, 2023, Gopal Snacks Limited’s profit after tax (PAT) climbed by 170.52% while its revenue increased by 3.1%.
Gopal Snacks IPO subscription status
Gopal Snacks IPO has received bids for 10,80,63,458 shares against 1,19,79,993 shares on offer, at 17:00 IST, according to data from the BSE.
The retail investors’ portion received bids for 2,38,03,469 shares against 59,38,977 shares on offer for this segment.
The non-institutional investors’ portion received bids for 2,41,69,584 shares against 25,45,276 on offer for this segment.
The QIBs portion have received 5,93,89,588 shares against 33,93,700 shares on offer for this segment.
The employee portion have received 7,00,817 shares against 1,02,040 shares on offer for this segment.
Gopal Snacks IPO details
Gopal Snacks IPO comprises an offer-for-sale (OFS) of equity shares worth ₹650 crore by the promoters and other investors.
In addition to Gopal Agriproducts Private Ltd (selling shares worth ₹520 crore) and promoter Bipinbhai Vithalbhai Hadvani (selling shares worth ₹80 crore), there will be another selling stakeholder, Harsh Sureshkumar Shah (selling shares worth ₹50 crore).
The Gopal Namkeen IPO’s book running lead managers are Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited, and the registrar is Link Intime India Private Ltd.
Gopal Snacks IPO GMP today
Gopal Snacks IPO GMP or grey market premium is +10. This indicates Gopal Snacks share price was trading at a premium of ₹10 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Gopal Snacks share price is indicated at ₹411 apiece, which is 2.49% higher than the IPO price of ₹401.
Based on last 13 sessions’ grey market activities, today’s IPO GMP expects a tepid listing. The lowest GMP is ₹0, while the highest GMP is ₹122, as per investorgain.com analysts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.