Gopal Snacks IPO Subscription Surges, Indicating Strong Investor Interest

"Gopal Snacks IPO Witnesses Surging Subscription, Anticipates Strong Market Debut"

Gopal Snacks IPO Witnesses Surging Subscription, Anticipates Strong Market Debut

The Gopal Snacks IPO has seen a surge in subscription rates, with the overall status reaching 9.02 times on the third day of the offering. The retail investors’ portion was subscribed 4.01 times, the Non-Institutional Investors (NII) portion 9.50 times, and the Qualified Institutional Buyers (QIB) portion 17.50 times. This positive response follows a slow start on the first day, with the subscription status at 56%, but gaining momentum thereafter.

The IPO, which opened on March 6 and is set to close on March 11, has garnered significant interest from investors. The company, known for its diverse range of savory products under the “Gopal” brand, has witnessed bids for 10,81,08,746 shares against 1,19,79,993 shares on offer.

Also read about: Investing in Gopal Snacks IPO: A Comprehensive Analysis

The offering comprises an offer-for-sale (OFS) of equity shares worth ₹650 crore by promoters and other investors, including Gopal Agriproducts Private Ltd and promoter Bipinbhai Vithalbhai Hadvani. The book running lead managers for the IPO are Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited, with Link Intime India Private Ltd serving as the registrar.

The grey market premium (GMP) for Gopal Snacks IPO is currently at +10, indicating a premium of ₹10 in the grey market. Analysts suggest that the estimated listing price could be around ₹411 per share, which is 2.49% higher than the IPO price of ₹401.

Overall, the strong subscription rates and positive market sentiment suggest a promising debut for Gopal Snacks on the stock exchange.

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