Gopal Snacks IPO: On March 6th, a public subscription period for Gopal Snacks’ initial public offering (IPO) will begin. For the issue, the corporation has set the price range at Rs 381-401. Applications for the IPO are open to interested investors for a minimum of 37 equity shares and any multiples thereof. The last day of the IPO is Monday, March 11.
IPO Details:
With its IPO price range set at Rs 381-401, Gopal Snacks presents an alluring opportunity for prospective investors. The subscription window will open on March 6, allowing interested parties to apply for a minimum of 37 equity shares and in multiples thereafter. Investors will only have a little window of time to participate in the IPO, which ends on March 11.
Offer-For-Sale Structure
It’s important to note that the Gopal Snacks IPO is entirely an Offer-For-Sale (OFS) by promoters and other shareholders, including prominent figures like Bipinbhai Vithalbhai Hadvani, Gopal Agriproducts, and Harsh Sureshkumar Shah. This strategic move sees existing shareholders cumulatively offloading shares worth Rs 650 crore, with the company itself not receiving any proceeds from the issue. The Anchor book for the issue opens on March 5, adding an extra layer of anticipation to this financial event.
Financial Performance: A Glimpse Into Success
For the period ending September 30, 2023, Gopal Snacks reported a net profit of Rs 55.57 crore, accompanied by a revenue of Rs 677.97 crore. Zooming out to the financial year concluding on March 31, 2023, the company’s net profit soared to Rs 112.37 crore, supported by a robust revenue of Rs 1,398.54 crore.
Investor Categories: Your Share of the Pie
In a move to diversify its investor base, Gopal Snacks has allocated 50% of the net offer for Qualified Institutional Investors (QIBs). Non-Institutional Investors (NIIs) will have 15% of shares reserved for them, while Retail Investors can tap into 35% of the net issue.