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Even though the IPO got a good response, the listing of Gopal Snacks shares on Thursday did not fare well. Shares of Gopal Snacks were listed at a discount of more than 12 percent amid weakness in the domestic stock markets.
Listed at this price
Shares of Gopal Snacks traded on NSE at Rs. 351 was listed. This is 12.47 per cent lower than the IPO's upper price band of Rs 401. While the share of Gopal Snacks on BSE is Rs. 350, which is 12.72 percent less than the issue price.
Gopal Snacks IPO Description
Namkeen Company's IPO opened on March 6 and was available for bidding till March 11. Per share Rs. Against the face value of Rs 1, the IPO raised Rs. 381 to Rs. The price band of Rs 401 was fixed. There were 37 shares in one lot of this IPO. That means investors investing in this IPO will have to invest at least Rs 14,837.
How much loss on each lot
If we look at the listing rate, the price of one lot of Rs 350 becomes Rs 12,950. This means that investors who invested money in Gopal Snacks IPO have lost Rs 1,887 on each lot.
Earlier this IPO had received excellent response in the market. In the QIB category, it was subscribed the maximum 18.42 times. Whereas the IPO was oversubscribed 10 times in the NII segment and 4.22 times in the retail segment. The shares reserved for employees were bid 7.27 times. The total IPO was oversubscribed by 9.50 times.
This company is business
The company manufactures and sells various products under the brand name Gopal. The main products of the company include Soan Papdi, Papad, Masala, Noodles, Rusks, various types of Namkeen etc. The company sells its products in 523 cities across 10 states and 2 union territories in the country. Its promoters are Bipinbhai Vitthalbhai Hadwani, Dakshaben Bipinbhai Hadwani and Gopal Agriproducts. Before the IPO, the promoters' stake in the company was 93.50 percent.
