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Countdown begins: Gopal Snacks IPO Allotment Underway Today - Stay tuned for allocation updates

The Indian snack market is buzzing with excitement as Gopal Snacks Limited, a prominent player in the FMCG sector, is set to finalize its Initial Public Offering (IPO) allotment today. The company, known for its wide variety of savory products, has captured the attention of investors with its strong market presence and consistent performance.

Background of Gopal Snacks Limited

Founded in 1999, Gopal Snacks Limited has established itself as a household name in India, particularly in Gujarat. The company's product portfolio includes ethnic snacks such as namkeen and gathiya, as well as Western snacks like wafers and extruder snacks.

IPO Details

The IPO ran from March 6 to March 11, 2024, with a price band of Rs 381-401 per share. The issue size was pegged at Rs 650.00 crores, entirely an offer for sale of 1.62 crore shares. The IPO allotment is expected to be finalized today, with the listing date tentatively set for March 14, 2024.

Investor Enthusiasm

The IPO has been met with considerable enthusiasm, as evidenced by the subscription rate of 9.02 times. This robust interest is a testament to the company's strong fundamentals and investor confidence in its growth trajectory.

Checking Allotment Status

Investors keen on checking their allotment status can do so by visiting the Bombay Stock Exchange (BSE) or Link Intime India, the registrar of the issue. The process involves selecting Gopal Snacks Limited from the drop-down menu and entering the application number and PAN card ID.

Financial Performance

For the six months ended September 2023, Gopal Snacks reported a slight dip in revenue from operations to Rs 676 crore. However, the profit after tax saw a marginal increase to Rs 55.5 crore from Rs 51.9 crore in the previous year.

Manufacturing and Distribution

Gopal Snacks operates six manufacturing facilities in India, focusing on producing besan or gram flour, raw snack pellets, seasoning, and spices, primarily for captive consumption in the manufacturing of finished products.

Market Position and Growth Prospects

The company's strong market position, coupled with a diverse product portfolio and extensive manufacturing capabilities, positions it well for future growth. The IPO is expected to further bolster Gopal Snacks' financial muscle, enabling it to expand its reach and scale operations.