Rajkot-based Gopal Snacks Pvt. Ltd., a prominent player in the ethnic snack market, has announced plans to go public with an Initial Public Offering (IPO) aiming to raise Rs 650 crore. The company, known for its significant presence in the Indian snack industry, filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
The proposed IPO consists of an Offer for Sale (OFS) of equity shares by key shareholders, including Bipinbhai Vithalbhai Hadvani. The offering outlines specific share allocations for various investor categories and includes a portion reserved for the company's employees.
As of September 30, 2023, Gopal Snacks has established a strong distribution network that spans ten states and two Union Territories in India. This network is maintained through three depots and supported by 617 distributors. The company boasts the title of the second-largest namkeen manufacturer in Gujarat and ranks fourth nationally in papad production.
Financially, Gopal Snacks has demonstrated impressive growth. In FY23, the company reported a revenue increase at an annual rate of approximately 11%, while its profits surged at a Compound Annual Growth Rate (CAGR) of about 131%. This robust growth trajectory resulted in half-year revenues reaching nearly Rs 676.19 crore and profits after tax standing at Rs 55.56 crore.
The IPO is managed by financial entities such as Intensive Fiscal Services, Axis Capital (NYSE:AXS), and JM Financial. Link Intime India has been appointed as the registrar for the offering. Gopal Snacks aims to list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), which would provide investors with an opportunity to participate in the company's continuing growth story.
The company's extensive product lineup is backed by ancillary manufacturing facilities that contribute to its comprehensive range of Stock Keeping Units (SKUs), enabling it to meet diverse consumer demands across its expansive market reach.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.