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The much-awaited Gopal Snacks IPO is set to hit the market, offering investors a chance to own a slice of one of India’s leading snack manufacturers. With the price band fixed and subscription dates revealed, investors are eagerly eyeing this opportunity.
Price Band and Subscription Dates
The IPO price band has been set between Rs.381 to Rs.401 per equity share, with the subscription scheduled from Wednesday, March 6, to Monday, March 11. Allocation to anchor investors will take place on Tuesday, March 5.
Key Financial Metrics
The floor price is set at 381 times the face value, with the cap price at 401 times the face value. Based on diluted EPS for fiscal 2023, the price/earnings ratio ranges from 42.24 to 44.46 times, compared to the industry peer group P/E ratio of 121.27. The lot size for the IPO is 37 equity shares.
Allocation and Reservation
The IPO reserves not more than 50% for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 35% for retail investors. Additionally, an employee reservation portion offers a discount of Rs. 38 per equity share.
Listing and Peer Comparison
Gopal Snacks’ shares are anticipated to be listed on BSE and NSE on Thursday, March 14. The company’s listed peers include Bikaji Foods International Ltd and Prataap Snacks Ltd, with respective P/E ratios of 104.67 and 137.87.
Company Overview
Under the renowned “Gopal” brand, the company offers a diverse range of savory products, catering to both traditional and contemporary tastes. Its offerings include papad, spices, noodles, and a variety of snacks.
Financial Performance
Between March 31, 2022, and March 31, 2023, Gopal Snacks Limited witnessed a remarkable 170.52% increase in profit after tax (PAT), alongside a 3.1% rise in revenue.
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Offer Details
The IPO comprises an offer-for-sale (OFS) of equity shares worth ₹650 crore, with major stakeholders including Gopal Agriproducts Private Ltd, promoter Bipinbhai Vithalbhai Hadvani, and Harsh Sureshkumar Shah.
Lead Managers and Registrar
The book running lead managers for the Gopal Snacks IPO are Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited, with Link Intime India Private Ltd acting as the registrar.
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As anticipation builds, investors are expected to closely monitor the progress of the Gopal Snacks IPO, considering its promising financials and established market presence.
