The snacks company raised Rs 193.95 crore from the anchor investors. While five mutual fund schemes were allocated shares in the company through a total of nine mutual fund schemes.
Gopal Snacks IPO allotment will be finalised on March 12. The company’s shares are expected to hit the bourses on March 14. The investors can check the allotment details on BSE and the registrar’s website.
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Here’s how you can check the allotment:
Step 1
Go to the website of the issue’s registrar and navigate to the public issues. Here Link Intime India is the registrar where you can check the allotment details.
Step 2
Fill in all your details: company name you applied for and PAN number.
Step 3
Hit the search button to check the allotment status.
The investors who would have been allotted shares will be receiving them in their D’mat account. Whereas those who were not allotted will be receiving a refund from the registrar. The refund is expected to be initiated on March 13, which will appear in the bank account thereafter. As the registrar of the issue is responsible for the refund and IPO allotment.
Gopal Snacks shares were neither witnessing a premium nor a discount in the grey market and were trading at the issue price. It is an unofficial market where shares exchange hands illegally.
The ethnic snacks company opened its subscription for retail bidding on March 6 and closed on March 11. The bidders could subscribe to the issue between the price range of Rs 381 to 401.
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Talking about the company’s business, it makes ethnic snacks such as gathiya and namkeen. Gopal Snacks is the largest manufacturer of Gathiya in the country. It is not just only in the business of ethnic snacks but also manufactures Western snacks like wafers and snack pellets. The company exports its snack products. It is majorly based in Gujarat and Maharashtra.
As it is entirely an offer for sale, the collected money will be going into the bank account of large shareholders selling their stake in the company.
