Gopal Snacks has revealed that it will launch its initial public offering (IPO), which got regulatory permission earlier this year, on 6 March. The edition will be available for public subscription until 11 March.
The price range for the public offer, which is essentially an offer for sale (OFS) of up to Rs 650 crore, will be revealed on Friday.
Because the IPO is an OFS, the firm will get no profits, and the full amount will go to the selling shareholders, Bipinbhai Vithalbhai, Gopal Agriproducts, and Harsh Sureshkumar.
Qualified institutional investors will be able to reserve about 50 per cent of the offer, followed by retail investors (35 per cent), and non-institutional investors (15 per cent).
As of September 2023, their product range included 84 goods and 276 SKUs spanning many product categories. In India, the firm runs six production facilities: three core and three auxiliary.
The three principal manufacturing facilities are located in Nagpur, Rajkot, and Modasa, and they largely focus on the production of the company’s completed products.
For the six months ending September 2023, income from operations declined 3 per cent year on year to Rs 676 crore. Profit after tax climbed slightly over the same time to Rs 55.5 crore, up from Rs 51.9 crore the previous year.
