Goyal Salt was founded on November 26, 2010, and is chiefly involved in refining raw salts obtained from sub-soil brine in Rajasthan. These refined salts are intended for both industrial and edible uses
| Bidding Dates |
|---|
| 26 Sep 2023 - 29 Sep 2023 |
| Subscription |
|---|
| 267.07x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,14,000 | 1 | 1 | 3000 | 4.9 M | ₹36 - ₹38 | 72.61 % | ₹176.5 M - ₹186.3 M | RHP DOC |
Goyal Salt IPO SUBSCRIPTION STATUS
03 Oct '23Goyal Salt IPO overall subscription rate was 267.07 times the total available shares
Goyal Salt IPO retail subscription rate was 493.42 times in the retail segment
Goyal Salt IPO non-institutional investor subscription rate was 518.93 times in the non-institutional investor category
Goyal Salt IPO Qualified Institutional Bidder subscription rate was 33.07 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
03 Oct 2023 (Day 5) | 493.42x | 518.93x | 33.07x |
29 Sep 2023 (Day 4) | 238.84x | 116.46x | 4.73x |
28 Sep 2023 (Day 3) | 143.29x | 72.22x | 2.46x |
27 Sep 2023 (Day 2) | 69.27x | 36.65x | 0.04x |
26 Sep 2023 (Day 1) | 18.03x | 0.89x | 0.01x |
Goyal Salt FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY23 | 35.4 | 1,176.4 | 33.0 | 25.3 |
| FY22 | 6.3 | 661.1 | 46.6 | 32.0 |
| FY21 | 6.8 | 600.5 | -43.4 | -55.0 |
Goyal Salt IPO SUBSCRIPTION STATUS DETAILS
Goyal Salt had 4.9 M shares on offer
Goyal Salt IPO offer price was in the range ₹36 - ₹38
Goyal Salt IPO minimum Investment was ₹114000
Goyal Salt IPO issue size was ₹ 176.5 M - ₹ 186.3 M
Goyal Salt had a minimum lot size of 3000 Shares per application
Goyal Salt NUMBER OF SHARES ON OFFER
Goyal Salt IPO IMPORTANT DATES
| Issue Open Date | 26 Sep 2023 |
| Issue close Date | 29 Sep 2023 |
| Allotment Date | 05 Oct 2023 |
| Refund Date | 06 Oct 2023 |
| Demat Account Credit Date | 09 Oct 2023 |
| Listing Date | 11 Oct 2023 |
| Listing on Exchange(s) | NSE |
| Goyal Salt Allotment Status | Exchange |
Goyal Salt IPO subscription opened on 26 Sep 2023, and closed on 29 Sep 2023
IPO allotment for Goyal Salt was finalized on Thursday, 05 Oct 2023
IPO listing for Goyal Salt was on NSE on Wednesday, 11 Oct 2023
Goyal Salt IPO LISTING GAINS
| Issue Price (adjusted) | 38.0 |
| Listing Open Price | 130.0 |
| Listing Close Price | 136.1 |
| Listing Gain% | 242.1% |
| Current Gain% | 194.7% |
Goyal Salt Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Goyal Salt Ltd. | 112 | 200.5 | 17.7 | -1.2 | 1 | 17 | 9.4 | 199.8 | 45.4 | 11.4 | -14.3 | 6.3 | -14.3 |
| Varun Beverages Ltd. | 442 | 149504.9 | 44.2 | 2.3 | 6.2 | 15.5 | 11.9 | 22037.7 | 9.5 | 3036.5 | 17 | 10 | 18.9 |
| EID Parry (India) Ltd. | 805.1 | 14327.2 | 25.2 | -0.7 | 0.4 | 6.5 | 1.9 | 38883.4 | 21.6 | 569.5 | -35.2 | 32 | -35.2 |
| Avanti Feeds Ltd. | 906.6 | 12351.3 | 20.4 | 1.4 | 2 | 18.4 | 14.2 | 6276.5 | 8.6 | 606.1 | 14.6 | 44.5 | 14.6 |
| Manorama Industries Ltd. | 1636.2 | 10328.1 | 48.1 | 0.2 | 7.6 | 32 | 18.1 | 1377.1 | 73.9 | 214.9 | 95.8 | 34.1 | 204.8 |
| Sanstar Ltd. | 113.4 | 2066.8 | 60 | -2.8 | 2.6 | 5 | 4.3 | 796.4 | -18 | 34.4 | -21.3 | 1.9 | -21.3 |
Goyal Salt INFORMATION ON IPO ISSUE
About Goyal Salt
Goyal Salt was founded on November 26, 2010, and is chiefly involved in refining raw salts obtained from sub-soil brine in Rajasthan. These refined salts are intended for both industrial and edible uses
Object of the Issue
- Capital expenditure for quality enhancement
- Brand creation and marketing expenses
- Funding the working capital requirements of the company
- General corporate purposes
Goyal Salt - PROMOTERS
| Name |
|---|
| Rajesh Goyal |
| Pramesh Goyal |
| Lokesh Goyal |
| Radhika Goyal |
| Priyanka Goyal |
| Rekha Goyal |
| Kunj Bihari Goyal (HUF) |
| Rajesh Goyal (HUF) |
| Parmesh Goyal (HUF) |
| Lokesh Goyal (HUF) |
Goyal Salt Lead Manager to the Issue
Holani Consultants Private Limited
ipo@holaniconsultants.co.in
Goyal Salt Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Goyal Salt Strengths
Refining facility
The company has an established refining facility with a production capacity of approximately 700 tonnes per day, allowing for integrated production with cost efficiencies
Consistent financial performance
The company has demonstrated strong financial performance, with revenues growing at a CAGR of 39.91% to Rs. 1,177.1 crore in FY23
Long-term relations
The company has long-standing, strong relationships with customers and dealers, bolstered by efficient supply chain management
Goyal Salt Risks
Process losses
The company experienced process losses of 25.86%, 24.30%, and 20.48% during FY23, FY22, and FY21, respectively, in the refining of salt. Any further increase in process loss could have a significant impact on operational costs
Dependent on limited customers
The company derived 68.5%, 60.4%, and 50.8% of its revenue from the top 10 customers during FY23, FY22, and FY21, respectively. The loss of one or more of these key customers could adversely affect the business
IPO FAQs
The promoters of the company are Rajesh Goyal, Pramesh Goyal, Lokesh Goyal, Radhika Goyal, Priyanka Goyal, Rekha Goyal, Kunj Bihari Goyal (HUF), Rajesh Goyal (HUF), Parmesh Goyal (HUF) and Lokesh Goyal (HUF).
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 36.0 - 38.0.
The IPO application opens on Sep 26, 2023 and closes on Sep 29, 2023.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 114,000.0, the maximum value for this IPO is Rs 114,000.0.
This IPO will be allotted on Oct 05, 2023.
The refund will be credited to your account on Oct 06, 2023.
The allotted shares will be credited to your demat on Oct 09, 2023.
Goyal Salt Ltd.’s shares listed on the stock exchanges on Oct 11, 2023.