Gopal Snacks company has recently filed a Draft Red Herring prospectus DRHP. The company is known for its delicious namkeen, snacks, papad, and spices. After its further growth in India, the company has decided to expand the business and raise Rs. 650 crores through IPO. SEBI will observe the DRHP and the IPO release will be announced soon after that. The company will provide OFS of equity shares by promoters in the IPO. Let us have details about the Gopal Snacks company IPO below.
Gopal Snacks IPO Date, Price Band, DRHP Details
Gopal Snacks Company IPO might be released soon as the company has filed a draft for IPO. It will not have any fresh shares. It will provide an Offer for the Sale of equity shares of Rs. 650 Crores. The shares will be provided by Bipinbhai Vithalbhai Hadvani for up to Rs. 100 crore, Gopal Agriproducts for Rs. 540 crore, and Harsh Sureshkumar Shah for up to Rs 10 crore. You will get the shares listed on both the Bombay Stock Exchange and National Stock Exchange. The face value of the shares will be Rs. 1. The company is said to be having enormous growth in the last few years. It started from Rajkot and has reached 10 states and 2 union territories. The company provides remuneration and commission to 617 distributors. All the snacks are manufactured in India in their manufacturing units in Gujarat and Maharashtra.
The company provides a variety of snacks and namkeens to offer as festive gifts to your loved ones. The company has good packaging and presentation making the customers want to buy their products. Their all-time favorite products are its namkeen range. They also make besan snacks. Its profitability is attractive to many investors. The company made a revenue of Rs. 1,128.86 crores in FY 2021 followed by Rs. 1,289.86 in FY 2022, and Rs. 1,394.65 Crores in FY 2023.
The net profit of the FY 2021 was Rs. 21.2 crores followed by Rs—50 crores in FY 2022, and Rs. 112.37 Crores in FY 2023. The numbers are impressive. If everything goes well, the company might release the IPO by mid-2024. We will update you with the dates and month shortly. The company is led by Chairman & Managing Director, Bipinbhai Vithalbhai Hadvani, Whole Time Director Raj Bipinbhai Hadvani, and CEO Dakshaben Bipinbhai Hadvani. This was all about Gopal Snacks Company IPO. Stay tuned for more information on our website.