Connect with us

Business

Gopal Snacks IPO Witnesses Strong Subscriptions on Day 3

Published

on

Gopal Snacks Ipo Witnesses Strong Subscriptions On Day 3

Gopal Snacks IPO subscription status is on a positive trajectory as it hits 9.02 times on Day 3 of its offering period. As per BSE data at 17:00 IST, the retail investors’ portion stands at 4.01 times, while the Non-Institutional Investors (NII) portion reports a strong 9.50 times subscription. Qualified Institutional Buyers (QIB) are showing significant interest with a subscription rate of 17.50 times. The employee portion rounds up at a robust 6.87 times.

After a slow start on its first day, Gopal Snacks has steadily gained momentum, with the retail segment fully subscribed within a few hours on Day 2. Overall, the subscription rate was noted at 1.40 times on the second day. The growth is indicate of a positive response from investors and qualified buyers.

On the initial day of its offering, Gopal Snacks IPO saw a subscription status of 56% as per BSE data. The retail investors’ portion demonstrated an 89% subscription rate, while the NII portion stood at 49%. The QIB section is yet to reach the subscribed status, and the employee portion reported a 1.64 times subscription rate.

Gopal Snacks, headquartered in Rajkot, has managed to raise a substantial ₹193.94 crores from anchor investors. The IPO price band spans from ₹381 to ₹401 per equity share of the face value of Re. 1, with lot sizes set to 37 equity shares and multiples thereof.

Under the brand name “Gopal the company offers a spectrum of savory products encompassing fast-moving consumer goods like papad, spices, namkeen, and biscuits, to name a few. Its competitors, as noted in the red herring prospectus, are Bikaji Foods International Ltd and Prataap Snacks Ltd, each boasting different Price/Earnings ratios.

Rachel Adams

Times News Global is a dynamic online news portal dedicated to providing comprehensive and up-to-date news coverage across various domains including politics, business, entertainment, sports, security, features, opinions, environment, education, technology and global. affairs. Our commitment lies in sharing news that is based on factual accuracy, credibility, verifiability, authority and depth of research. We pride ourselves on being a distinctive media organization, guided by the principles enshrined in Article 19 of the Universal Declaration of Human Rights. Made up of a team of ordinary people driven by an unwavering dedication to uncovering the truth, we publish news without bias or intimidation.

Recent Posts