Sweets and snacks maker’s IPO opens, brokerage says – invest money

New Delhi. The IPO of Gopal Snacks, a chips snacks company, opened today. The issue was subscribed by 0.56% on the first day. A total of 1,19,79,993 shares are up for sale in the IPO, for which 66,61,628 bids were received on the first day. No new shares will be issued in the issue. That is, this Rs 650 crore IPO is completely an offer for sale. Retail investors will be able to bid for this IPO from March 6 to March 11. The company’s shares will be listed on the National Stock Exchange and the Bombay Stock Exchange on March 14. Many brokerage houses have suggested investing in Gopal Snacks IPO. Even in the gray market, shares of this IPO are trading at a premium (Gopal Snex IPO GMP).

Gopal Snacks Limited has fixed the price band of this issue (Gopal Snacks IPO Price Band) at ₹381-₹401. Retail investors can bid for a minimum of one lot i.e. 37 shares. If we look at the upper price band of the IPO of ₹ 401, a minimum investment of ₹ 14,837 would have to be made. At a time, retail investors can apply for a maximum of 13 lots ie 481 shares. Gopal Snacks manufactures more than 80 products, including chips, noodles and Gujarati snacks.

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Brokerage advised to invest money.
According to a Money Control report, brokerage Sharekhan says that in the upper price band, it is much cheaper than Pierce Pratap Snacks and Bekaji Foods. Due to diversified and strong product portfolio, vertically integrated manufacturing, continuous expansion strategy, and increasing brand image, this IPO can be invested money. Reliance Securities has also rated it ‘Subscribe’. According to the brokerage, based on the company’s market understanding, vertical manufacturing, logistics integration and strong growth in new and existing industry markets, its revenues and profits will grow manifold in the coming years.

Master Capital Services has also advised investing in the Gopal Snacks IPO from a ‘medium to long-term’ perspective. The brokerage says the company plans to strengthen its presence in its core market of Gujarat. It also plans to expand its business in Rajasthan, Madhya Pradesh, Maharashtra and Uttar Pradesh. This will increase the revenue of the company in the future.

Indicating profit in the gray market
According to IPOWatch, a gray market monitoring website, shares of Gopal Snacks are trading at a premium of Rs 70 on the gray market (Gopal Snacks IPO GMP Today). If we look at the upper price band, investors can expect to get 17 times the listing.

(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).

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