IPO of gopal snacks will open tomorrow

Gopal Snacks, also known as Gopal Namkeen, is offering shares to the public for the first time to raise Rs 650 crore. This offer consists of selling 1.62 crore shares. The company’s anchor book will start on March 5. The IPO will be open for subscription from March 6 to March 11, 2024. The price range for each share is set between Rs 381 to Rs 401. To collect Rs 650 crore, the promoters Gopal Agriproducts and Bipinbhai Vithalbhai Hadvani will sell shares worth Rs 520 crore and Rs 80 crore respectively, while Harsh Sureshkumar Shah will sell shares worth Rs 50 crore. Currently, the promoters hold 93.5 percent of the company’s shares, while the remaining 6.5 percent is held by public shareholders, including Axis Growth Avenues AIF – I and Ashoka India Equity Investment Trust Plc, each with a 1.48 percent stake. Retail investors can bid for a minimum of 37 shares and multiples of that amount. This means the smallest investment by retail investors will be Rs 14,097 (37 shares x Rs 381). At the upper price limit, the minimum investment will increase to Rs 14,837.