Gopal Snacks’ Rs650-cr IPO to open on March 6

New Delhi: Gopal Snacks Ltd on Friday said it has fixed a price band of Rs381 to Rs401 per share for its Rs650-crore initial public offering (IPO). The company’s maiden public issue will open for subscription during March 6-11 and the bidding for anchor investors will open for a day on March 5, Rajkot-based Gopal Snacks said. The proposed issue is entirely an offer for sale (OFS) of equity shares by promoters and other existing shareholders.

The OFS comprises the sale of shares by Bipinbhai Vithalbhai Hadvani, Gopal Agriproducts Private Ltd and Harsh Sureshkumar Shah. Founded in 1999, Gopal Snacks is a fast-moving consumer goods company, offering namkeen, western snacks, and other products across India and internationally. As on September 2023, the namkeen makers’ products were sold in 10 states and 2 Union Territories and has a network of 3 depots and 617 distributors. The company operates three manufacturing facilities -- Rajkot and Modasa in Gujarat, and Nagpur in Maharashtra.