Gopal Snacks IPO Listing Today share debut at market with more than 12 per cent 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, shares of Gopal Snacks were listed on the stock market with a discount of more than 12 percent.

Shares listed at this price

Shares of Gopal Snacks were listed on NSE at a price of 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

The IPO of Namkeen Company was opened on March 6 and was available for bidding till March 11. 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. That means investors investing in this IPO had to invest at least Rs 14,837.

There was so much loss on every lot

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

Response by category

Earlier this IPO had received excellent response in the market. 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 a variety of products under the Gopal brand name. The company's major products 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.

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