Gopal Snacks IPO allotment status: Check application, latest GMP and listing date

Gopal Snacks is likely to finalise the basis of allotment of its IPO shares on Tuesday, March 12. Those who bade in the issue should get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate by Wednesday. The Rajkot based ethnic snack maker had received decent response to its IPO.

The Gopal Snacks IPO ran between March 6 and March 11. The company had offered its shares in the fixed price band of Rs 381-401 per share with a lot size of 37 shares. It raised a total of Rs 650 crore from its offering, which was entirely an offer-for-sale (OFS) of up to 1,62,09,476 equity shares by its promoters and other shareholders.

The issue was subscribed more than nine times. The quota for qualified institutional bidders (QIBs) was booked 17.50 times The quota for non-institutional investors was subscribed 9.50 times. The portions reserved for retail investors and employees saw bidding for 4.01 times and 6.88 times, respectively.

The grey market premium (GMP) of Gopal Snacks has seen a steep correction following the closure of the bidding process. Last heard, Gopal Snacks was commanding a GMP of Rs 14-15 per share, suggesting a listing pop of around 4 per cent. The GMP was around Rs 122 apiece a few days ago.

Incorporated in 1999, Gopal Snacks is an FMCG firm specialising in both ethnic and western snack items, catering to markets worldwide. The product range encompasses a diverse selection, featuring traditional offerings such as namkeen and gathiya alongside contemporary options such as wafers, extruded snacks, and snack pellets.

Brokerage were mostly positive on the Gopal Snacks IPO, as they cited expansion plans, strong hold in key markets, robust financial performance and solid business growth over the years. Stiff competition and aggressive pricing were seen as key risks for Gopal Snacks.

Intensive Fiscal Services, Axis Capital and JM Financial are the book running lead managers of the Gopal Snacks IPO, while Link Intime India is the registrar for the issue. Shares of the company are likely to debut on both BSE and NSE and March 14, Thursday is the likely date of listing.

Investors, who had bid for the issue of Gopal Snacks, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Gopal Snacks Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of Link Intime Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.