Today (March 11) is the last date to subscribe the initial public offering of Gopal Snacks. The issue has so far been subscribed 1.40 times so far. The Rajkot-based company come out with price band of ₹381-401 and the market lot is 37 shares.

The initial share sale received bids for 1.67 crore shares against 1.198 crore shares (net off anchor portion).

About 50 per cent of the offer has been reserved for qualified institutional investors, 35 per centfor retail investors and 15 per cent for non-institutional investors. The ethnic and western snacks maker has reserved ₹3.5 crore worth of shares for its employees and they will enjoy a discount of ₹38 a share to the final issue price.

The quota for retail investors was subscribed two times, while NIIs’ part received 1.62 times and QIBs’ portion just 9 per cent. Employee portion was subscribed 3.22 times.

The IPO is entirely an offer for sale of up to ₹650 crore by promoters and other selling shareholders. The equity shares of the company are proposed to be listed on the BSE and NSE.

Gopal Snacks has raised ₹193.94 crore from anchor investors, as part of IPO process. Foreign and domestic Institutions who participated in the anchor were Ashoka White Oak, White Oak MF, DSP MF, Quant MF, IIFL Wealth & Asset Management (360 One), Natixis, BNP Paribas, OptiMix Global Emerging Markets Share Trust, Edelweiss MF, HDFC Life Insurance, ITI MF, Leading Light Fund, Bay Capital, BoFA Securities and Copthall Mauritius.

Founded in 1999, Gopal Snacks is a ₹1,400-crore business of traditional Gujarati savouries. The company has six manufacturing facilities including those at Rajkot, Modasa and Nagpur. It offers a wide variety of products under the brand “Gopal” including Namkeen, Gathiya, wafers, snack pellets and other products.

Intensive Fiscal Services, Axis Capital and JM Financial are the managers to the offer while Link Intime India Private is official registrar of the public issue.

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