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Unlisted shares of Gopal Snacks Ltd are trading Rs 24 higher in the grey market, expecting a 5.99 per cent listing gain from the public issue, Gopal Snacks IPO Closes Today: Should You Subscribe? Check Subscription Status, GMP Today
The company operates three manufacturing facilities in Gujarat and Maharashtra, along with three ancillary facilities producing besan, raw snack pellets, seasoning, and spices.
The issue of Gopal Snacks is entirely an offer-for-sale by promoters and other shareholders of the company, who will offload shares worth Rs 650 crore.
Gopal Snacks Ltd has set a price band of Rs 381-401 a share for its Rs 650 crore initial public offering. The allotment of the issue will be on March 12 and credit of shares to demat account will be on 12th. The stock will list on exchanges on March 14. On the upper price band, the firm's post-IPO market capital is pegged at Rs 5,000 crore.
Gopal Snacks IPO | The public issue, which consists of only an offer-for-sale (OFS) by the existing shareholders with no fresh issue component, will close on March 11.