Gopal Snacks on Tuesday stated that it has raised Rs 194 crore from anchor investors, a day before its initial public offering (IPO). The Rajkot-based business has issued 48.36 lakh equity shares to 19 funds at Rs 401 each, which is also the higher end of the pricing range, according to a BSE filing.
Participants in the anchor round include BofA Securities Europe SA, Bay Capital India Fund, ITI Mutual Fund, DSP Mutual Fund, Quant Mutual Fund, Edelweiss Mutual Fund, and HDFC Life Insurance Company.
The issue, with a price band of Rs 381 to Rs 401 per share, will be open for subscription on March 6 and close on 11 March.
The planned initial public offering (IPO) is solely an offer for sale (OFS) of equity shares by promoters and selling stockholders.
The OFS includes the selling of shares by Bipinbhai Vithalbhai Hadvani, Gopal Agriproducts Private Ltd, and Harsh Sureshkumar Shah.
Half of the issue size is allocated for eligible institutional investors, 35 per cent for retail investors and 15 per cent for non-institutional investors.
Investors can put bids beginning with a minimum of 37 equity shares, with the ability to bid in increments of 37 shares afterward.
Intensive Fiscal Services, Axis Capital, and JM Financial are the book-running lead managers for the IPO. The equity shares of the firm are proposed for listing on the BSE and NSE.
The firms’ income from operations climbed from Rs 1,128.86 crore in fiscal 2021 to Rs 1,394.65 crore in fiscal 2023, while profits increased from Rs 21.12 crore in fiscal 2021 to Rs 112.37 crore in fiscal 2023.
