Gopal Snacks is a fast-moving consumer goods company in India, offering ethnic snacks, western snacks, and other products both domestically and internationally. In Fiscal 2023, it ranked as the fourth-largest brand in India's organised sector of ethnic savouries (including gathiya) by market share and was the largest manufacturer of gathiya in terms of production volume and sales revenue, as well as the largest producer of snack pellets in terms of production volume in India.
| Bidding Dates |
|---|
| 06 Mar 2024 - 11 Mar 2024 |
| Subscription |
|---|
| 9.02x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,097 | 1 | 13 | 37 | 16.2 M | ₹381 - ₹401 | 80.49 % | ₹6175.8 M - ₹6500.0 M | RHP DOC |
Gopal Snacks IPO SUBSCRIPTION STATUS
11 Mar '24Gopal Snacks IPO overall subscription rate was 9.02 times the total available shares
Gopal Snacks IPO retail subscription rate was 4.01 times in the retail segment
Gopal Snacks IPO non-institutional investor subscription rate was 9.5 times in the non-institutional investor category
Gopal Snacks IPO Qualified Institutional Bidder subscription rate was 17.5 times the available shares for Qualified Institutional Bidder
Gopal Snacks IPO Employees subscription rate was 6.88 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
11 Mar 2024 (Day 3) | 4.01x | 9.5x | 17.5x | 6.88x |
07 Mar 2024 (Day 2) | 2.01x | 1.63x | 0.09x | 3.22x |
06 Mar 2024 (Day 1) | 0.89x | 0.49x | 0x | 1.64x |
Gopal Snacks 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) | Margins |
| H1FY24 | 555.7 | 6,762.0 | 675.9 | 560.1 | 5.4% |
| H1FY23 | 519.6 | 6,993.0 | 575.5 | 463.4 | 7.0% |
| FY23 | 1,123.7 | 13,946.5 | 1,215.2 | 962.2 | 14.1% |
| FY22 | 415.4 | 13,521.6 | 585.9 | -144.4 | 13.4% |
| FY21 | 211.2 | 11,288.6 | 224.3 | -534.2 | 13.9% |
Gopal Snacks IPO SUBSCRIPTION STATUS DETAILS
Gopal Snacks had 16.2 M shares on offer
Gopal Snacks IPO offer price was in the range ₹381 - ₹401
Gopal Snacks IPO minimum Investment was ₹14097
Gopal Snacks IPO issue size was ₹ 6175.8 M - ₹ 6500.0 M
Gopal Snacks had a minimum lot size of 37 Shares per application
Gopal Snacks NUMBER OF SHARES ON OFFER
Gopal Snacks IPO IMPORTANT DATES
| Issue Open Date | 06 Mar 2024 |
| Issue close Date | 11 Mar 2024 |
| Allotment Date | 12 Mar 2024 |
| Refund Date | 13 Mar 2024 |
| Demat Account Credit Date | 13 Mar 2024 |
| Listing Date | 14 Mar 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Gopal Snacks Allotment Status | Exchange |
Gopal Snacks IPO subscription opened on 06 Mar 2024, and closed on 11 Mar 2024
IPO allotment for Gopal Snacks was finalized on Tuesday, 12 Mar 2024
IPO listing for Gopal Snacks was on NSE and BSE on Thursday, 14 Mar 2024
Gopal Snacks IPO LISTING GAINS
| Issue Price (adjusted) | 401.0 |
| Listing Open Price | 351.0 |
| Listing Close Price | 362.7 |
| Listing Gain% | -12.5% |
| Current Gain% | -31.9% |
Gopal Snacks 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gopal Snacks Ltd. | 273.1 | 3402.9 | 40.5 | 0 | 2.1 | 15.4 | 10.3 | 1512.7 | 2.7 | 73.7 | 287.7 | 6.7 | 3122.9 |
| Nestle India Ltd. | 1493.2 | 287935.9 | 75.6 | 3.3 | 11.8 | 67.8 | 26.5 | 23195 | 14.5 | 3499.1 | 9.1 | 19.8 | 22.6 |
| Britannia Industries Ltd. | 5598 | 134838.1 | 51.8 | 2.8 | 6.9 | 49.6 | 26 | 19375.6 | 6.6 | 2533.5 | 16.3 | 108.1 | 18.7 |
| Hatsun Agro Products Ltd. | 942.5 | 20994.1 | 56.4 | 2.5 | 2 | 18.3 | 8 | 9972.9 | 14.8 | 356.2 | 24.8 | 16.7 | 22.9 |
| Zydus Wellness Ltd. | 506.1 | 16102.1 | 85.6 | -2 | 3.5 | 3.4 | 1.9 | 3967.4 | 45.7 | 197.2 | -43.2 | 5.9 | -42.5 |
| Bikaji Foods International Ltd. | 619.8 | 15541.9 | 60.1 | 2.2 | 5.1 | 16.1 | 11.5 | 3045.3 | 14.7 | 258.3 | 28.6 | 10.3 | 27.9 |
Gopal Snacks INFORMATION ON IPO ISSUE
About Gopal Snacks
Gopal Snacks is a fast-moving consumer goods company in India, offering ethnic snacks, western snacks, and other products both domestically and internationally. In Fiscal 2023, it ranked as the fourth-largest brand in India's organised sector of ethnic savouries (including gathiya) by market share and was the largest manufacturer of gathiya in terms of production volume and sales revenue, as well as the largest producer of snack pellets in terms of production volume in India.
Object of the Issue
- To carry out the offer for sale of equity shares by the selling shareholders
- To achieve the benefits of listing the equity shares on the stock exchanges
Gopal Snacks - PROMOTERS
| Name |
|---|
| Bipinbhai Vithalbhai Hadvani |
| Dakshaben Bipinbhai Hadvani |
| Gopal Agriproducts |
Gopal Snacks Book Running Lead Managers
Intensive Fiscal Services Private Limited
gopal.ipo@intensivefiscal.com
Axis Capital Limited
gopalsnacks.ipo@axiscap.in
Gopal Snacks Book Running Lead Manager
JM Financial Limited
gopalsnacks.ipo@jmfl.com
Gopal Snacks Registrar to the Offer
Link Intime India Private Limited
gopalsnacks@linkintime.co.in
Gopal Snacks Strengths
Large brand
The company is the fourth-largest ethnic savouries brand in India and the second-largest ethnic namkeen manufacturer in Gujarat
Diversified product portfolio
The company offers a diversified portfolio of savoury snacks, including ethnic savouries such as namkeen and gathiya, and western snacks such as wafers, extruded snacks, and snack pellets, catering to varied consumer tastes and preferences
Integrated business
The company's business operations are vertically integrated, resulting in quality products and cost and operational efficiencies
Gopal Snacks Risks
Geographically concentrated
The sale of the company's products is concentrated in its core market of Gujarat. Any adverse developments affecting operations in this region could have a negative impact on the business
Legal and regulatory proceedings
The company, its promoters, and directors are or may be involved in certain legal and regulatory proceedings. Any adverse decision in these proceedings could have a negative effect on the business
Incurred indebtedness
The company has incurred indebtedness, and an inability to comply with repayment and other covenants in the financing agreements could adversely affect the business
IPO FAQs
This IPO consists of an offer for sale of up to Rs 650.0 crore, of 16,209,476 shares.
The promoters of the company are Bipinbhai Vithalbhai Hadvani, Dakshaben Bipinbhai Hadvani and Gopal Agriproducts.
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 381.0 - 401.0.
The IPO application opens on Mar 06, 2024 and closes on Mar 11, 2024.
The minimum lot size for the IPO is 37. The maximum lot size for the IPO is 481.
For all category investors, the minimum application amount for this IPO is Rs. 14,097.0, the maximum value for this IPO is Rs 192,881.0.
This IPO will be allotted on Mar 12, 2024.
The refund will be credited to your account on Mar 13, 2024.
The allotted shares will be credited to your demat on Mar 13, 2024.
Gopal Snacks Ltd.’s shares listed on the stock exchanges on Mar 14, 2024.