Ethnic and western snacks manufacturer Gopal Snacks successfully secured Rs 193.95 crore through the anchor book on March 5, a day before the commencement of its public issue.
The IPO, which solely consists of an offer-for-sale (OFS) worth Rs 650 crore, is set to open for subscription on March 6, with the final bidding date scheduled for March 11.
Gopal Snacks disclosed to the exchanges that it allocated 48,36,657 equity shares to anchor investors at a price of Rs 401 per equity share. Notable investors participating in the anchor book include Ashoka Whiteoak ICAV, Whiteoak Capital Mutual Fund, DSP Mutual Fund, Quant Mutual Fund, 360 One Special Opportunities Fund, and Natixis International Funds.
Additionally, Optimix Wholesale Global Emerging Markets Share Trust, BNP Paribas Funds, HDFC Life Insurance Company, ITI Mutual Fund, Leading Light Fund VCC, Bay Capital, India Fund, BofA Securities Europe SA, and Copthall Mauritius Investment also contributed to the anchor book.
Out of the total allocation to anchor investors, 16,95,455 equity shares were assigned to 5 domestic mutual funds across 9 schemes.
It’s worth noting that the proceeds from the public issue will solely benefit the selling shareholders, with the company not receiving any funds. Promoters Gopal Agriproducts and Bipinbhai Vithalbhai Hadvani will be selling equity shares worth Rs 520 crore and Rs 80 crore in the OFS, respectively, while another shareholder, Harsh Sureshkumar Shah, will sell shares worth Rs 50 crore.
Currently, promoters hold 93.5 percent of the company’s shares, while the remaining 6.5 percent is owned by public shareholders, including Axis Growth Avenues AIF – I and Ashoka India Equity Investment Trust Plc, each with a 1.48 percent stake.
The price band for the public issue has been set at Rs 381-401 per share.
