Goyal Salt IPO will open for subscription from 26 September 2023. The company aims for an issue size of ₹18.63 Cr through this IPO.
Company Overview
| Full name | Goyal Salt Limited |
| Sector | Fast-Moving Consumer Goods |
| Industry | Consumer Food |
| Company Website | https://goyalsaltltd.com/ |
About Company
Incorporated in 2010, Goyal Salt (GSL) is primarily engaged in the business of refining of raw salts procured from sub soil brine in the state of Rajasthan for useable as industrial salts and edible salts. The company refines and supplies pure, refined and quality range of triple refined free flow iodized salt, industrial salt, double fortified salt and triple refined half dry salt.
The company’s refinery is strategically located in Nawa City, close to the famous Sambhar Lake. GSL also possess government-approved lease rights for raw salt extraction in Rajasthan and have a dedicated complex for refining, storing, and packaging their products.
Goyal Salt has a healthy track record of revenue growth and profitability, as evidenced by the growth in the revenue from operations from INR 6005.30 lakhs in 2020-21 to INR 11764.19 lakhs in 2022-23. It has demonstrated strong financial performance and the revenues has grown at a CAGR of 39.91% from INR 60.13 crore in FY 2020-21 to INR 117.71 crore in FY 2022-23. The profit after tax has grown at a CAGR of 127.83 % from INR 0.68 crore in FY 2020- 21 to INR 3.54 crore in FY 2022-23.
The Objectives of the Issue
- Capital Expenditure for Quality Enhancement,
- Brand Creation and Marketing Expenses,
- Funding the working capital requirements of the company,
- General corporate purposes.
IPO Timetable
| IPO Opening date | 26 September 2023 |
| IPO Closing | 29 September 2023 |
| Basis of Allotment | 05 October 2023 |
| Initiation Refund | 06 October 2023 |
| Credit to Demat Account | 09 October 2023 |
| Listing Date | 10 October 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹18.63 Cr – 4,902,000 shares |
| Fresh Issue | ₹18.63 Cr – 4,902,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹36 to ₹38 per share |
| Lot size | 3000 Shares |
| Market Maker portion | 246,000 shares |
| Shareholding pre-issue | 12,998,250 |
| Shareholding post-issue | 17,900,250 |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹114,000 |
| Retail (Max) | 1 | 3000 | ₹114,000 |
| HNI (Min) | 2 | 6,000 | ₹228,000 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 60.05 | 66.11 | 117.64 |
| Expenses | 59.20 | 65.07 | 112.86 |
| Net income | 0.68 | 0.63 | 3.54 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.52 | 0.48 | 2.72 |
| PE ratio | – | – | 13.24 – 13.97 |
| RONW (%) | 6.08 | 5.37 | 21.86 |
| NAV | 10.35 | 10.79 | 14.94 |
| ROCE (%) | 16.44 | 15.78 | 36.22 |
| EBITDA (%) | 4.82 | 4.51 | 5.78 |
| Debt/Equity | 1.16 | 0.91 | 0.57 |
Company Promoters
Mr. Rajesh Goyal, Mr. Pramesh Goyal, Mr. Lokesh Goyal, Ms. Radhika Goyal, Ms. Priyanka Goyal, Ms. Rekha Goyal, Kunj Bihari Goyal HUF, Rajesh Goyal HUF, Parmesh Goyal HUF, and Lokesh Goyal HUF are the company’s promoters.
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Lead Manager(s)
HOLANI CONSULTANTS PRIVATE LIMITED
401 – 405 & 416 – 418, 4th Floor, Soni Paris Point,
Jai Singh Highway, Bani Park, Jaipur – 302016
Phone: +91 0141 – 2203996
Email: ipo@holaniconsultants.co.in
Website: www.holaniconsultants.co.in
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
GOYAL SALT LIMITED
Plot No. 229-230, Guru Jambeshwar Nagar, Lane No. 7,
Gandhi Path, Vaishali Nagar, Jaipur 302021, Rajasthan, India
Phone: +91 – 9116544418
E-mail: info@goyalsalt.in
Website: www.goyalsaltltd.com
Allotment Status
Goyal Salt IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Goyal Salt 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
