Gopal Snacks Limited is an FMCG company that deals in ethnic and Western snacks, and other products in India and internationally.
The company offers a variety of snack products including ethnic snacks like namkeen and gathiya, as well as western snacks such as wafers, extruded snacks, and snack pellets. They also provide fast-moving consumer goods such as papad, spices, gram flour or besan, noodles, rusk, and soan papdi.
As of November 2023, the company had 276 SKUs along with 84 products from different categories, catering to various tastes and preferences. As of September 2023, the company has sold its products to over 523 locations across 10 states and two Union Territories.
As of September 30, 2023, the sales and marketing team comprised 741 employees, complemented the extensive distribution network of three depots and 617 distributors. As of September 2023, the company has a fleet of 263 logistics vehicles to support its extensive distribution network.
The company has six manufacturing units out of which three are primary manufacturing units and three are ancilliary manufacturing units. The primary manufacturing units are in Nagpur, Maharashtra; Rajkot, Gujarat; and Modasa, Gujarat. The two ancillary units are situated in Rajkot, Gujarat and one unit is located in Madosa, Gujarat.
As of September 30, 2023, the six facilities had a total annual installed capacity of 404,728.76 MT. The three primary facilities, including the Rajkot facility that produces papad, had a capacity of 303,668.76 MT, while the three ancillary facilities had a capacity of 101,060.00 MT (excluding papad capacity).
As of September 30, 2023, 69 distributors in Gujarat have been associated with the company for more than ten years, representing 24.73% of the total distributors in Gujarat.
Gopal Snacks IPO – Details
| IPO Opening Date | 06 March 2024 |
| IPO Closing Date | 11 March 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1,62,09,476 Shares Worth ₹650 Crore Offer For Sale: 1,62,09,476 Shares Worth ₹650 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹381 – ₹401 |
| Market Lot | 37 Shares |
| Min Order | 37 Shares (1 Lot) |
| Employee Discount | Rs 38 |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Gopal Snacks IPO – Date Schedule
| IPO Open Date | 06 March 2024 |
| IPO Close Date | 11 March 2024 |
| Basis of Allotment Date | 12 March 2024 |
| Initiation of Refund | 13 March 2024 |
| Credit of Shares to Demat Account | 13 March 2024 |
| IPO Listing Date | 14 March 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 11 March 2024 |
Gopal Snacks IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹14,837 |
| Retail (Max) | 13 | 481 | ₹1,92,881 |
| S-HNI (Min) | 14 | 518 | ₹2,07,718 |
| S-HNI (Max) | 67 | 2,479 | ₹9,94,079 |
| B-HNI (Min) | 68 | 2,516 | ₹10,08,916 |
Competitive Strengths
- The company’s position in the Indian snack food market as an ethnic savouries brand with a significant presence in Gujarat coupled with focus on quality and various offerings has helped Gopal snacks create a brand recognition;
- Diversified product portfolio capable of capturing growing Indian snacks market;
- The company’s position as a manufacturer of gathiya in India coupled with the growing popularity of gathiya as a snack, present opportunities for us to expand in the gathiya segment;
- Strategically located manufacturing facilities;
- Vertically integrated advanced business operations resulting in quality products and cost and operational efficiencies;
- Distribution network;
- Experienced Promoter and management team; and
- Track record of profitable financial performance.
Company Promoters
- Bipinbhai Vithalbhai Hadvani
- Dakshaben Bipinbhai Hadvani
- Gopal Agriproducts
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 1129.84 | 1103.34 | 21.12 | 138.99 |
| 31 March 2022 | 1356.47 | 1302.41 | 41.53 | 164.12 |
| 31 March 2023 | 1398.53 | 1246.69 | 112.36 | 106.37 |
| 31 December 2023 | 677.97 | 602.99 | 55.56 | 26.05 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 16.05% |
| ROCE | 20.83% |
| Debt/Equity | 0.08 |
| RoNW | 16.05% |
| PAT Margin (%) | 8.22 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 9.02 | 8.92 |
| P/E (x) | 44.47 | 44.96 |
Object Of The Issue
- The Company will not receive any proceeds from the Offer (the “Offer Proceeds”) and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.
Gopal Snacks IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 1 | Bikaji Foods International Limited | 104.67 |
| 2 | 5 | Prataap Snacks Limited | 137.87 |
Gopal Snacks IPO Promoter Holding
| Pre Issue Share Holding | 93.50% |
| Post Issue Share Holding | 81.49% |
Gopal Snacks IPO Prospectus
Company Contact Information
| Gopal Snacks Limited Plot Nos. G2322, G2323 and G2324 GIDC Metoda, Taluka Lodhika, Rajkot -360 021 Phone: +91 28 2728 737 Email: cs@gopalsnacks.com Website: https://www.gopalnamkeen.com/ |
Gopal Snacks IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: gopalsnacks@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
Gopal Snacks IPO Lead Manager(s)
| 1. Intensive Fiscal Services Private Limited 2. Axis Capital Limited 3. JM Financial Limited |
Gopal Snacks IPO FAQs
| What is Gopal Snacks IPO? Gopal Snacks IPO is a main-board IPO. The issue is priced at ₹381 to ₹401 per equity share. The IPO is to be listed on BSE & NSE. |
| When Gopal Snacks IPO will open? The IPO is to open on 06 March 2024 for QIB, NII, and Retail Investors. |
| What is Gopal Snacks IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Gopal Snacks IPO? You can apply Gopal Snacks IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Gopal Snacks IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Gopal Snacks”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Gopal Snacks IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Gopal Snacks“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Gopal Snacks IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Gopal Snacks”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Gopal Snacks IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Gopal Snacks”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Gopal Snacks IPO Size? Gopal Snacks IPO size is ₹650.00 Crore. |
| What is Gopal Snacks IPO Price Band? Gopal Snacks IPO Price Band is ₹381 to ₹401. |
| What is Gopal Snacks IPO Minimum and Maximum Lot Size? The minimum bid is 37 Shares with ₹14,837 amount while the maximum bid is 481 Shares with ₹192,881. |
| What is the Gopal Snacks IPO Allotment Date? Gopal Snacks IPO allotment date is 12 March 2024. |
| What is the Gopal Snacks IPO Listing Date? Gopal Snacks IPO listing date is 14 March 2024. The IPO is to list on BSE and NSE. |
