Gopal Snacks IPO is set to be listed tomorrow, March 14. The allotment process has been completed, and today, March 13, shares will be credited to the demat accounts of those who were allocated shares. Refunds will also be processed today for those who did not receive shares.
The Gopal Snacks IPO received a satisfactory level of subscriptions over the course of three days. On the final day, the subscription rate stood at 9.02 times, according to BSE data. The retail investors’ portion was oversubscribed by 4.01 times, while the Non-Institutional Investors (NII) portion saw a subscription of 9.50 times. The Qualified Institutional Buyers (QIB) portion was oversubscribed by 17.50 times, and the employee portion saw a subscription of 6.87 times.
The IPO allocated not more than 50% of the shares for qualified institutional buyers, at least 15% for NII, and a minimum of 35% for retail investors. Additionally, equity shares totaling up to ₹3.5 crore were reserved for employees, with eligible employees offered a discount of ₹38 per equity share.
Gopal Snacks IPO opened for subscription on March 6 and closed on March 11, with a price band set between ₹381 to ₹401 per equity share. The lot size was 37 equity shares, with multiples of 37 shares thereafter.
Despite being a 100% offer for sale, Gopal Snacks attracted significant subscription interest across all investor categories, reflecting its strong position in the Indian fast-moving consumer goods market. However, given the current market conditions, the listing is expected to be subdued, possibly even flat.
The grey market premium (GMP) for Gopal Snacks IPO is -12, indicating that the shares are trading at a discount of ₹12 in the grey market. Considering this, the estimated listing price is expected to be around ₹389 per share, which is approximately 2.99% lower than the IPO price of ₹401.
Based on recent trends in the grey market, today’s IPO GMP suggests a discount listing, with the lowest GMP reported at ₹-12 and the highest at ₹122, according to analysts at investorgain.com.
