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snacks, chips And the IPO of Rajkot based mostly snack manufacturing firm Gopal Snacks has opened from in the present day. Whereas brokerages are bullish on IPOs, good momentum can be being seen within the grey market. It is possible for you to to spend money on Gopal Snacks IPO from in the present day until March 11. The Rajkot-based firm has raised ₹193.94 crore from anchor buyers. The corporate knowledgeable the inventory exchanges that it allotted 48,36,657 fairness shares to anchor buyers at ₹401 per share on Tuesday, March 05. The value band for the Rs 650 crore IPO (preliminary public providing) of Gopal Snacks Ltd has been mounted at Rs 381 to Rs 401 per share.
What’s the GMP of Gopal Snacks IPO in the present day?
The GMP or grey market premium of Gopal Snacks IPO is +65. This means that Gopal Snacks inventory is buying and selling at a premium of ₹65 within the grey market. Contemplating the higher finish of the IPO value band and the prevailing premium within the grey market, the estimated itemizing value of Gopal Snacks’ share value is quoted at ₹466 per share, which is 16.21% larger than the IPO value of ₹401. Primarily based on grey market actions during the last 7 periods, in the present day’s IPO GMP is anticipated to have a robust itemizing. In accordance with analysts, the bottom GMP is ₹0, whereas the best GMP is ₹122. The ‘gray market premium’ refers back to the willingness of buyers to pay greater than the problem value.
Brokerage can be bullish about this IPO
Reliance Securities has given ‘Subscribe’ score on this subject. Sharekhan analysts consider that on the higher and lower cost bands, Gopal Snacks is undervalued than its nearest opponents Pratap Snacks and Bikaji Meals Worldwide. Grasp Capital Providers suggested buyers to speculate cash on this IPO preserving the medium to long run in thoughts. It’s because the corporate intends to broaden exterior Gujarat into the markets of Maharashtra, Rajasthan, Madhya Pradesh and Uttar Pradesh.
In regards to the firm
Established within the yr 1999, Gopal Snacks is a every day shopper items firm. As of September 2023, Namkeen merchandise have been bought in 10 states and two union territories and has a community of three depots and 617 distributors. The corporate operates three manufacturing facilities. These vegetation are in Rajkot and Modasa in Gujarat, and Nagpur in Maharashtra. Gopal Snacks’ working revenue in 2022-23 stood at Rs 1,394.65 crore and revenue at Rs 112.37 crore.
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2024-03-06 11:06:53
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