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.