Google News

Gopal Snacks files Rs 650 crore IPO papers with Sebi

Must Read

The proposed issue is entirely an Offer For Sale (OFS) of equity shares by promoters and other selling shareholders

New Delhi: Rajkot-based Gopal Snacks has filed preliminary papers with capital markets regulator Sebi to raise Rs 650 crore through an Initial Public Offering (IPO).

The proposed issue is entirely an Offer For Sale (OFS) of equity shares by promoters and other selling shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday.

The OFS comprises the sale of shares worth up to Rs 100 crore by Bipinbhai Vithalbhai Hadvani, up to Rs 540 crore by Gopal Agriproducts Pvt Ltd, and up to Rs 10 crore by Harsh Sureshkumar Shah.

The offer also includes a reservation for subscription by eligible employees.

Founded in 1999, Gopal Snacks is a fast-moving consumer goods company in India, offering namkeen, western snacks, and other products across India and abroad.

As of September 2023, the namkeen makers’ products were sold in 10 states and two Union Territories and has a network of three depots and 617 distributors.

The company operates three manufacturing facilities — Rajkot and Modasa in Gujarat, and Nagpur in Maharashtra.

Furthermore, it runs three ancillary manufacturing facilities that mostly produce besan, raw snack pellets, seasoning, and spices.

These are mainly used internally to make finished products like namkeen, gathiya, and snack pellets.

The companies’ revenue from operations increased from Rs 1,128.86 crore in FY21 to Rs 1,394.65 crore in FY23 and profit grew from Rs 21.12 crore in FY21 to Rs 112.37 crore in FY23.

Intensive Fiscal Services, Axis Capital, and JM Financial are the book-running lead managers to the IPO. The equity shares of the company are proposed to be listed on the BSE and the NSE.

Latest News

D2C fashion brand The Souled Store enters Kerala

Its latest store is located at Gokulam Galleria Mall, Arayidathupalam, Kozhikode Bengaluru: Mumbai-based direct-to-consumer apparel brand The Souled Store has...

Login to your account below

Fill the forms bellow to register

Retrieve your password

Please enter your username or email address to reset your password.