Monday, 19 October 2026
Advertise About Us
Subscribe
Breaking
📣 From ₹50 Crore Turnover to IPO — Are You Ready? Rajkot Engineering Industry Maintains Strong Manufacturing Identity Galaxy Bearings Schedules 36th AGM for September 22, 2026 Rajkot Development Push: RMC Seeks ₹900 Crore Additional Government Grant for 272 Works Rajkot’s Industrial Sector Continues to Expand with New Manufacturing Projects

← All IPOs

LISTED Mainboard NSE & BSE Snacks and Beverages 📍 Rajkot, Gujarat, India Live

Gopal Snacks Limited IPO

FMCG - Food Products · ISIN: INE0L9R01028 · Registrar: Link Intime India Private Limited

Price Band ₹381 – ₹401
Issue Size ₹650.00 Cr Cr
Lot Size 37 shares
Grey Market Premium —
Subscription (Total) 9.02x

Last updated 1 week ago · refreshes automatically

🔎 Check Allotment Status
More Snacks and Beverages IPOs → More IPOs from Rajkot →

📅 IPO Timeline

DRHP Filed
21 Nov 2023
RHP Filed
28 Feb 2024
Anchor Investors
05 Mar 2024
IPO Opens
06 Mar 2024
IPO Closes
11 Mar 2024
Allotment
12 Mar 2024
Refund
13 Mar 2024
Shares Credit
13 Mar 2024
Listing
14 Mar 2024

📈 Grey Market Premium Trend

Latest GMP: ₹15

📊 Subscription Status

Retail
4.01x
QIB
17.5x
NII
9.5x
Employee
6.88x
Total Subscription 9.02x

As of 2024-03-11 17:00

DayRetailQIBNIITotal
Day 1 0.89x 0.00x 0.49x 0.56x
Day 2 2.01x 0.09x 1.63x 1.40x
Day 3 4.01x 17.50x 9.50x 9.02x

📋 IPO Details

Open Date06 Mar 2024
Close Date11 Mar 2024
Allotment Date12 Mar 2024
Listing Date14 Mar 2024
Price Band₹381 – ₹401
Lot Size37
Face Value₹1 Per Share
Total Issue Size₹650.00 Cr Cr
Fresh Issue₹0 Cr
Offer For Sale₹650.00 Cr Cr
Minimum Investment₹14,837
Max Retail Investment₹192,881
Employee Discount₹38 Per Share
Retail Reservation35%%
QIB Reservation50%%
NII Reservation15%%
Total Shares Offered16,209,476
QIB Shares3,224,439
NII Shares2,418,329
Retail Shares5,642,768
Application ModeASBA / UPI
Lead ManagerIntensive Fiscal Services Private Limited; Axis Capital Limited; JM Financial Limited
RegistrarLink Intime India Private Limited
Market MakerN/A (Mainboard)
Listing Price₹360.05
Listing Gain-10.21%

⚓ Anchor Investor Details

Amount Raised₹₹193.95 Cr Cr
Shares Allotted4,836,657
50% Lock-in Ends12 Apr 2024
Remaining Lock-in Ends12 Jun 2024

🏦 Notable Anchor Investors

Ashoka WhiteOak; WhiteOak Capital Mutual Fund; DSP Mutual Fund; Quant Mutual Fund; 360 One Special Opportunities Fund; Natixis International Funds; Optimix Wholesale Global Emerging Markets Share Trust; BNP Paribas Funds; HDFC Life Insurance Company; ITI Mutual Fund; Leading Light Fund VCC; Bay Capital India Fund; BofA Securities Europe SA; Copthall Mauritius Investment; Edelweiss Mutual Fund

🏢 Company Profile

Gopal Snacks Limited is an Indian FMCG company headquartered in Rajkot, Gujarat, operating under the ‘Gopal’ brand. The company manufactures and markets ethnic snacks such as namkeen and gathiya, western snacks such as wafers, extruded snacks and snack pellets, and other products including papad, spices, gram flour (besan), noodles, rusk and soan papdi.

As of September 30, 2023, the company operated six manufacturing facilities with aggregate annual installed capacity of 404,728.76 MT and had 3,303 employees. Its products were sold across 10 states and two Union Territories in India, supported by 617 distributors and a sales and marketing team of 741 employees.

Advertisement
Zepto IPO Moves Closer, Rs. 9,500 Crore Listing Plan Could Change Quick Commerce In India
HeadquartersRajkot, Gujarat
CityRajkot
Statedone
CountryIndia
Employees3,303
SectorSnacks and Beverages
Promoter Holding (Pre-Issue)93.50%%
Promoter Holding (Post-Issue)81.49%%

👨‍💼 Promoters

Bipinbhai Vithalbhai Hadvani; Dakshaben Bipinbhai Hadvani; Gopal Agriproducts Private Limited

🌍 Global Presence

India (10 states and 2 Union Territories); international sales across 9 countries

📦 Products & Services

Namkeen; Gathiya; Wafers; Extruded Snacks; Snack Pellets; Papad; Spices; Gram Flour (Besan); Noodles; Rusk; Soan Papdi; Packaged Sweets

💹 Financial Highlights

Financial YearRevenueProfit After TaxEBITDA
FY211128.8621.1260.35
FY221352.1641.5394.79
FY231394.65112.36196.22
H1 FY24 (30 Sep 2023)676.1955.6594.26

📊 Key Ratios

EPS9.02
ROE38.63%
ROCE43.08%
NAV₹23.34
Debt/Equity0.37
P/E44.96

✅ Company Strengths

  • Established Gopal brand with a broad portfolio of ethnic and western snacks.
  • Wide product portfolio of 84 products and 276 SKUs as of November 2023.
  • Integrated manufacturing model with six facilities and captive production of selected inputs.
  • Extensive distribution network covering 10 states and two Union Territories, with 617 distributors as of September 30, 2023.
  • Large manufacturing capacity of 404,728.76 MT annually as of September 30, 2023.
  • Strong presence in Gujarat and established retail/distribution relationships.

⚠️ Risk Factors

  • Revenue is significantly concentrated in Gujarat.
  • The company is substantially dependent on its top products, including namkeen, gathiya and snack pellets.
  • Raw-material and packaging-material price fluctuations or supply interruptions can affect margins and operations.
  • The business depends on distributors and the ability to maintain and expand the distribution network.
  • Operations are manpower intensive and depend on the availability and retention of skilled personnel.
  • Competition in the snacks and packaged food industry may affect market share, pricing and profitability.
  • Food-quality, regulatory, trademark and product-compliance issues may adversely affect the business.
  • The company does not receive proceeds from the IPO because the issue is entirely an Offer for Sale.

🎯 IPO Objectives

  • 100% Offer for Sale (OFS). The company will not receive any IPO proceeds; proceeds are received by the selling shareholders.

📄 Important Documents

🔎 Check Allotment Status 📥 DRHP 📥 RHP 📥 Prospectus 📥 Annual Report

❓ Frequently Asked Questions

What was the Gopal Snacks IPO price band?

₹381–₹401 per share.

What was the Gopal Snacks IPO lot size?

37 shares.

What was the Gopal Snacks IPO issue size?

₹650 crore, entirely through an Offer for Sale.

What was the minimum retail investment?

₹14,837 for one lot of 37 shares at the upper price of ₹401.

When did Gopal Snacks IPO open and close?

March 6, 2024 to March 11, 2024.

When was Gopal Snacks IPO allotted and listed?

Allotment was finalized on March 12, 2024 and listing took place on March 14, 2024.

Who were the Gopal Snacks IPO lead managers?

Intensive Fiscal Services Private Limited, Axis Capital Limited and JM Financial Limited.

Who was the registrar?

Link Intime India Private Limited.

What was the Gopal Snacks IPO listing price?

₹360.05, versus the issue price of ₹401.

📰 Related News

  • Gopal Snacks raises ₹193.95 crore through anchor book ahead of IPO.
  • Gopal Snacks IPO opens on March 6, 2024 with price band of ₹381–₹401.
  • Gopal Snacks IPO closes with strong subscription across QIB, NII and retail categories.
  • Gopal Snacks shares list on NSE and BSE on March 14, 2024.
Advertisement
Blue Planet Design Studio Honored with Top50 SMEs Gujarat