GOPAL SNACKS (MAINBOARD)
Mar 6, 2024 - Mar 11, 2024
| Price | ₹380 - ₹401 |
| Premium | ₹-25 |
|---|---|
| Lot size | 37 |
| Allotment | Mar 12, 2024 |
| Listing | Mar 14, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 37 | 14837 | 152507 |
| sHNI | 14 | 518 | 207718 | 1556 |
| bHNI | 68 | 2516 | 1008916 | 3112 |
Last Updated as on 11-Mar-2024 17:42:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 3224439 | 59389588 | 18.42 |
| HNIs | 2418329 | 24176207 | 10 |
| HNIs (10+L) | 1612220 | 17282145 | 10.72 |
| HNIs (2-10L) | 806110 | 6894062 | 8.55 |
| Retail | 5642768 | 23826816 | 4.22 |
| Employees | 96419 | 701816 | 7.28 |
| Total | 11381955 | 108094427 | 9.5 |
| Total Application : 620,502 | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹9.92 | @8% ₹11.33 | @9% ₹12.75 | @10% ₹14.17 | @11% ₹15.58 | @12% ₹17 |
| Big HNI (10+L) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10+L) costing for every 1 lot allotment is ₹4288 |
| TOP 5 ANCHOR INVESTOR DETAILS | |||
|---|---|---|---|
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
| DSP MULTICAP FUND | 498760 | 10.31% | 20.0 |
| 360 ONE SPECIAL OPPORTUNITIES FUND - SERIES 9 | 498760 | 10.31% | 20.0 |
| NATIXIS INTERNATIONAL FUNDS (LUX) I - LOOMIS SAYLES GLOBAL EMERGING MARKETS EQUITY FUND | 498760 | 10.31% | 20.0 |
| OPTIMIX WHOLESALE GLOBAL EMERGING MARKETS SHARE TRUST | 498760 | 10.31% | 20.0 |
| BNP PARIBAS FUNDS INDIA EQUITY | 374070 | 7.73% | 15.0 |
| 2369110 | 48.97% | 95.00 | |
Gopal Snacks Limited, since its establishment in 1999, has emerged as a formidable player in the FMCG sector, offering a diverse range of both ethnic and Western snacks, as well as other consumer goods in India and globally. With an extensive product portfolio boasting 276 SKUs across 84 different categories as of November 2023, the company has demonstrated a commitment to catering to a wide array of tastes and preferences. Their expansive distribution network, encompassing over 523 locations across 10 states and two Union Territories, coupled with a robust sales and marketing team of 741 employees, underscores their dedication to reaching consumers far and wide. Moreover, supported by six strategically located manufacturing units, including three primary facilities in Nagpur, Maharashtra; Rajkot, Gujarat; and Modasa, Gujarat, the company boasts an impressive total annual installed capacity of 404,728.76 MT as of September 2023. With a significant portion of long-standing distributor relationships in Gujarat, exemplified by 69 distributors associated for over a decade, Gopal Snacks Limited continues to fortify its position as a leading player in the competitive FMCG landscape, promising further growth and success in the years ahead.
Gopal Namkeen IPO Details
| Issue Size | [16,209,476] shares (aggregating up to ₹650.00 Cr) |
| Offer for Sale | [16,209,476] shares of ₹1 (aggregating up to ₹650.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 124,604,370 |
| Share holding post issue | 124,604,370 |
Gopal Namkeen IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Key Performance Indicator
| KPI | Sep-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 16.05% | 38.63% | 23.38% |
| ROCE | 20.83% | 43.08% | 18.69% |
| RONW | 16.05% | 38.63% | 23.38% |
| D/E | 0.08 | 0.37 | 0.92 |
| EPS (basic & diluted) | 4.46 | 9.02 | 3.33 |
| P/BV | 14.43 | ||
| P/E | 44.47 |
Company Financials
Gopal Snacks Limited Financial Information (Restated)
Gopal Snacks Limited's revenue increased by 3.1% and profit after tax (PAT) rose by 170.52% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | 30 Sep 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|
| Assets | 434.54 | 461.28 | 399.72 | 341.89 |
| Revenue | 677.97 | 1,398.54 | 1,356.48 | 1,129.84 |
| Profit | 55.57 | 112.37 | 41.54 | 21.12 |
| Net Worth | 346.10 | 290.88 | 177.66 | 135.74 |
| Reserves | 333.17 | 277.60 | 176.56 | 135.03 |
| Borrowing | 26.05 | 106.37 | 164.12 | 138.99 |
| Amount in ₹ Crore | ||||
Strength Factors
Established Brand Recognition: Gopal Snacks Limited has successfully built a strong brand presence in the Indian snack food market, particularly in Gujarat, through its focus on ethnic savories and commitment to quality. This recognition enhances consumer trust and loyalty, providing a competitive advantage over other players in the industry.
Diverse Product Portfolio: With a wide range of offerings catering to various tastes and preferences, Gopal Snacks Limited possesses a diversified product portfolio. This diversity not only allows the company to capture a larger share of the growing Indian snacks market but also provides resilience against market fluctuations and changing consumer preferences.
Expertise in Gathiya Manufacturing: As a prominent manufacturer of gathiya in India, Gopal Snacks Limited is well-positioned to capitalize on the increasing popularity of this snack. The company's expertise in gathiya production presents lucrative opportunities for expansion within the segment, further solidifying its market presence and revenue streams.
Strategic Manufacturing Facilities: Gopal Snacks Limited's strategically located manufacturing facilities offer several advantages, including efficient supply chain management, reduced transportation costs, and proximity to key markets. These facilities enable the company to meet consumer demand promptly while maintaining quality standards, thereby enhancing its competitive edge in the industry.
Vertical Integration and Operational Efficiency: Gopal Snacks Limited's vertically integrated business operations contribute to the production of high-quality products and operational efficiencies. By controlling various stages of the supply chain, from raw material procurement to distribution, the company can ensure consistency in product quality, streamline processes, and achieve cost efficiencies, ultimately enhancing its profitability and competitiveness in the market.
Risk Factors
Overreliance on Gujarat Market: The Company’s heavy dependence on sales from Gujarat poses a significant risk. Any adverse developments, such as changes in consumer preferences, regulatory challenges, or economic downturns in this region, could severely impact the company's financial performance and overall business stability.
Contamination and Quality Control Risks: Gopal Snacks Limited faces inherent risks related to contamination and quality control, including improper storage practices, labeling errors, and non-compliance with quality standards. Any actual or alleged contamination incidents could lead to legal liabilities, damage to brand reputation, and diminished consumer trust, negatively impacting the company's financial condition and operational performance.
Product Liability Claims: Contamination or adulteration of products may expose the company to product liability claims, adverse publicity, and regulatory scrutiny. Legal proceedings, product recalls, and associated costs can significantly impact Gopal Snacks Limited's financial position and reputation.
Underutilization of Manufacturing Facilities: The underutilization of manufacturing facilities, particularly primary manufacturing units, presents a risk to operational efficiency and financial performance. Continued underutilization may lead to inefficiencies, increased production costs, and reduced profitability, posing challenges to the company's long-term viability.
Regulatory Compliance Challenges: The receipt of notices under the Food Safety and Standards Act, 2006, suggests regulatory compliance challenges for Gopal Snacks Limited. Allegations of substandard products, misbranding, or misleading advertisements may result in regulatory penalties, consumer distrust, and reputational damage, impacting the company's business operations and financial outcomes.
Gopal Namkeen IPO Lead Manager(s)
- Intensive Fiscal Services Private Limited
- Axis Capital Limited
- Jm Financial Limited
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: gopalsnacks@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html