Gopal Snacks Limited IPO Closed

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IPO date 06 Mar 2024 – 11 Mar 2024
Listing date 14 Mar 2024
Price range 381 – 401
Minimum order quantity 37
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Gopal Snacks Limited is launching its IPO. The opens for subscription on 6th March and will close on 11th March 2024.

What does Gopal Snacks Limited do?

Established as a partnership firm in 1999 and subsequently incorporated as a company in 2009, Gopal Snacks Limited is an FMCG company in India, offering ethnic snacks, western snacks, and other products in 10 States and two Union Territories. As of September 30, 2023, its portfolio comprised 84 products with 276 SKUs across various categories.

The company offers a wide variety of products under the brand ‘Gopal’, including ethnic snacks such as namkeen and gathiya, western snacks such as wafers, extruded snacks, and snack pellets, along with fast-moving consumer goods that include papad, spices, gram flour or besan, noodles, rusk, and soan papdi.

What is the issue size of the Gopal Snacks Limited IPO?

The entire issue size of the IPO comprises an Offer for sale of 16,209,476 shares from the existing shareholders aggregating up to ₹ 650 Cr.

Financials of Gopal Snacks Limited IPO (₹ crores)

Financial Year Total Assets Total Revenue Profit After Tax EBITDA EPS
March 31, 2021 341.89 1,129.84 21.12 60.35 1.70
March 31, 2022 399.72 1,356.48 41.54 94.78 3.33
March 31, 2023 461.28 1,398.54 112.37 196.23 9.02

Schedule/Timeline of Gopal Snacks Limited IPO

Issue Period 6th March to 11th March 2024
Deadline for accepting UPI mandate  Until 5 PM on the issue closing day
Finalization of Allotment March 12, 2024
Initiation of Refunds March 13, 2024
Credit of Shares March 13, 2024
Date of Listing March 14, 2024
Mandate end date March 26, 2024
Anchor Investors Lock-In End Date (50% of the investment) April 12, 2024
Anchor Investors Lock-In End Date (Remaining investment) June 12, 2024

Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.

Risk factors to consider:

Dependence on top 3 products: The company is significantly dependent on the sale of its top 3 products namely, namkeen, gathiya, and snack pellets as it generates neatly 85-89% of its revenue from these products. An inability to anticipate and adapt to evolving consumer tastes, preferences, and demand for particular products, or ensure product quality may adversely impact demand for its products, brand loyalty, and consequently its business, results of operations, financial condition, and cash flows.

Revenue concentration from one state: Nearly 75-79% sale of the company’s products is concentrated in its core market of Gujarat in the last three years. Any adverse developments affecting their operations in that region could harm the business, financial condition, results of operations, and cash flows.

How to apply to the Gopal Snacks Limited IPO?

You can apply for the Gopal Snacks Limited IPO using any supported UPI app by following two steps:

  • Enter your bid on Kite
  • Accept the UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

How to check the allotment status for the Gopal Snacks Limited IPO?

You can check the allotment status for the Gopal Snacks Limited IPO on the website of the Registrar and Transfer agent.