Gopal Snacks Listing: Bad start for Gopal Snacks, listing with discount

Gopal Snacks Listing: Bad start for Gopal Snacks, listing with discount

Despite the good response to the IPO, the listing of Gopal Snacks shares did not go well on Thursday. Amidst the softness of the domestic stock market, Gopal Snacks shares were listed on the stock market with a discount of more than 12 percent.

Shares listed at this price

Gopal Snacks shares were listed on NSE. Listed at Rs 351. This is 12.47 percent less than the upper price band of IPO of Rs 401. Whereas Gopal Snacks shares opened on BSE at a price of Rs 350, which is 12.72 percent lower than the issue price.

Gopal Snacks IPO details

Namkeen company's IPO on March 6. It was opened for bidding on 11th March and was available for bidding till 11th March. As against the face value of Re 1 per share, the price band of Rs 381 to Rs 401 was fixed in the IPO. There were 37 shares in one lot of this IPO. This means that the investors investing in this IPO had to invest at least Rs 14,837.

This much loss was incurred on every lot

If we look at the listing rate, then the price is Rs 350. From this the price of one lot remains at Rs 12,950. This means that the investors who invested money in the IPO of Gopal Snacks have suffered a loss of Rs 1,887 on every lot.

Category wise response

Earlier this IPO was launched in the market. Got a great response. It was subscribed maximum 18.42 times in QIB category. Whereas the IPO was subscribed 10 times in NII segment and 4.22 times in retail segment. The portion reserved for employees had received 7.27 times the bids. The overall IPO received 9.50 times subscription.

This is the business of the company

The company manufactures and sells many types of products under the brand name Gopal. The major products of the company include Soan Papdi, Papad, spices, noodles, rusks, various types of namkeen etc. The company sells its products in 523 cities in 10 states and 2 union territories of the country. Its promoters are Bipinbhai Vithalbhai Hadwani, Dakshaben Bipinbhai Hadwani and Gopal Agriproducts. Before the IPO, the promoters' stake in the company was 93.50 percent.

Also read: Not getting any relief, Sensex fell by more than 225 points as soon as it opened.

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