Gopal Namkeen IPO will open for subscription from 06 March 2024. The company aims for an issue size of ₹650 Cr through this IPO.
Company Overview
| Full name | Gopal Namkeen Limited |
| Sector | Fast Moving Consumer Goods |
| Industry | Consumer Food |
| Company Website | https://www.gopalnamkeen.com/ |
About Company
Gopal Snacks is a major player in India’s snacks industry with a leadership position in gathiya segment. In Fiscal 2023, it ranked fourth in market share among organized sector brands for ethnic savories in India. It holds the top position in gathiya production volume and sales revenue, as well as snack pellets production volume nationally. The company is the second largest ethnic namkeen manufacturer in Gujarat and the fourth largest packaged ethnic namkeen manufacturer in India based on sales revenue.
Additionally, Gopal Snacks is the fourth largest papad manufacturer in India by sales revenue. Their product range includes 84 items with 276 SKUs, catering to diverse tastes. The company operates in ten states and two union territories, selling through 523 locations, supported by 617 distributors and a sales team of 741 employees as of September 30, 2023. It utilizes various sales channels including ecommerce, modern trade, and exports.
The company owns six manufacturing facilities, with three primary ones in Nagpur, Maharashtra; Rajkot, Gujarat; and Modasa, Gujarat. These facilities primarily focus on finished product manufacturing. They also have three ancillary facilities producing raw materials for captive consumption. As of September 30, 2023, their total annual installed capacity across all facilities was 404,728.76 MT. Gopal Snacks also collaborates with third-party manufacturers for certain products when necessary.
The Objectives 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 Namkeen IPO Timetable
| IPO Opening date | 06 March 2024 |
| IPO Closing | 11 March 2024 |
| Basis of Allotment | 12 March 2024 |
| Initiation Refund | 13 March 2024 |
| Credit to Demat Account | 13 March 2024 |
| Listing Date | 14 March 2024 |
Gopal Namkeen IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹650 Cr – 16,209,476 shares |
| Fresh Issue | ₹650 Cr – 16,209,476 shares |
| Offer for sale | Nil |
| Face value | ₹1 per share |
| Price Band | ₹381 to ₹401 per share |
| Lot size | 37 Shares |
| Shareholding pre-issue | 124,604,370 |
| Shareholding post-issue | 124,604,370 |
| Listing Exchange | BSE & NSE |
Gopal Namkeen IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹14,837 |
| Retail (Max) | 13 | 481 | ₹192,881 |
| S-HNI (Min) | 14 | 518 | ₹207,718 |
| S-HNI (Max) | 67 | 2,479 | ₹994,079 |
| B-HNI (Min) | 68 | 2,516 | ₹1,008,916 |
Gopal Namkeen IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Gopal Namkeen Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 1,128.86 | 1,352.16 | 1,394.65 | 676.19 |
| Expenses | 1,103.34 | 1,302.42 | 1,246.69 | 602.99 |
| Net income | 21.12 | 41.54 | 112.37 | 55.56 |
| Margin (%) | 1.87 | 3.07 | 8.06 | 8.22 |
Gopal Namkeen Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.70 | 3.33 | 9.02 |
| PE ratio | – | – | – |
| RONW (%) | 15.56 | 23.38 | 38.63 |
| NAV | 10.89 | 14.26 | 23.34 |
| ROCE (%) | 13.48 | 18.69 | 43.08 |
| EBITDA (%) | 5.35 | 7.01 | 14.07 |
| Debt/Equity | 1.02 | 0.92 | 0.37 |
Company Promoters
- Bipinbhai Vithalbhai Hadvani
- Dakshaben Bipinbhai Hadvani
- Gopal Agriproducts
Promoter Holding
| Pre Issue Share Holding | 93.50% |
| Post Issue Share Holding |
Gopal Namkeen IPO Lead Manager(s)
- Intensive Fiscal Services Private Limited
- Axis Capital Limited
- JM Financial Limited
Gopal Namkeen Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: gopalsnacks@linkintime.co.in
Website: www.linkintime.co.in
Gopal Namkeen Contact Details
GOPAL SNACKS LIMITED
Plot Nos. G2322, G2323 and G2324,
GIDC Metoda, Taluka Lodhika,
Rajkot – 360 021, Gujarat
Phone: +91 28 2728 7370
Email: cs@gopalsnacks.com
Website: www.gopalnamkeen.com
Gopal Namkeen IPO Allotment Status
Gopal Snacks IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Final thoughts
Gopal Namkeen IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
