Rajkot based FMCG Company Gopal Snacks files DRHP with SEBI for the proposed IPO; Key Details here

Gopal Snacks is into Consumer FMCG and is looking raise funds through Offer for Sale

Gopal Snacks. Offer for Sale of Equity shares aggregating up to Rs.650 crores IPO

Gopal Snacks IPO: Gopal Snacks Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 1 per share via initial public offering.

Promoters of Gopal Snacks are Bipinbhai Vithalbhai Hadvani, Dakshaben Bipinbhai Hadvani and Gopal Agriproducts Private Limited and holds 93.5% stake in the company.

Key Details:

• Initial Public Offer comprising of a Offer for Sale of Equity shares aggregating up to Rs. 650 crores..
• Intensive Fiscal Services, Axis Capital, JM Financial have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Equity Sharesby Bipinbhai Vithalbhai Hadvani (Promoter), Gopal Agriproducts Private Limited (Promoter) and Harsh Sureshkumar Shah who would be offloading Equity Shares aggregating up to ₹100 cr, Equity Shares aggregating up to ₹540 cr and Equity Shares aggregating up to ₹10 cr respectively...

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Objects of the issue:
Issue is pure offer for sale (OFS) hence the the objects of the Offer are to,(i) to carry out the Offer for Sale of Equity Shares by the Selling Shareholders aggregating to ₹650 cr; and (ii) achieve the benefits of listing the Equity Shares on the Stock Exchanges..

About Company:
Established in 1999, Gopal snacks is fast-moving consumer goods (FMCG) company in India, offering savoury products under brand ‘Gopal’, including ethnic snacks such as namkeen and gathiya, western snacks such as wafers, snack pellets and extruder snacks, along with FMCG that include papad, spices, gram flour or besan, noodles, rusk and soan papdi. Its product portfolio comprised 84 products with 276 SKUs across various product categories.

Company has 6 manufacturing units with combined installed capacity of 979.58 MT. Company has presence across 12 states and UT through 617 distributors.

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About Industry:
Indian market for savoury snacks including western snacks and ethnic savouries (including gathiya) was estimated to be valued at ₹ 796 billion in Fiscal 2023 and is projected to grow at an approximately 11% CAGR reaching ₹ 1,217 billion by Fiscal 2027. Western snacks and ethnic savouries (including gathiya) were estimated to be contributing 51% and 49% of the Indian savoury snacks market, respectively. The organized market holds a market share of approximately 57% in Fiscal 2023 in the Indian savoury snacksindustry and is forecasted to grow at a 11.7% CAGR during Fiscal 2023 to 2027

Source: SEBI, BSE, NSE, DRHP, Gopal Snacks, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.