IPO of sweets and snacks manufacturing company opened, brokerage said – invest money

New Delhi. The IPO of chips-snacks manufacturing company Gopal Snacks opened today. This issue was subscribed 0.56 percent on the first day. A total of 1,19,79,993 shares have been put up for sale in the IPO, for which 66,61,628 bids were received on the first day. No new shares will be issued in the issue. That means this IPO of Rs 650 crore is completely an offer for sale. Retail investors will be able to bid for this IPO from March 6 to March 11. The company’s shares will be listed on the National Stock Exchange and Bombay Stock Exchange on March 14. Many brokerage houses have advised to invest money in Gopal Snacks IPO. Even in the gray market, shares of this IPO are trading at a premium (Gopal Snacks IPO GMP).

Gopal Snacks Limited has fixed the price band of this issue (Gopal Snacks IPO Price Band) at ₹381-₹401. Retail investors can bid for a minimum of one lot i.e. 37 shares. If we look at the upper price band of IPO of ₹ 401, then at least ₹ 14,837 will have to be invested. At the same time, retail investors can apply for maximum 13 lots i.e. 481 shares. Gopal Snacks manufactures more than 80 products, which include chips, noodles and Gujarati namkeen.

Read this also- Gold reached all time high, experts are hopeful, the rise is not going to stop now, told how far the price will go.

Brokerage advised to invest money
According to a report by Moneycontrol, brokerage Sharekhan says that according to the upper price band, it is much cheaper than Pierce Pratap Snacks and Bikaji Foods. Due to the diversified and strong product portfolio, vertically integrated manufacturing, continuous expansion strategy, and increasing brand shine, money can be invested in this IPO. Reliance Securities has also given it a ‘Subscribe’ rating. According to the brokerage, based on the company’s market understanding, vertical manufacturing, integration of logistics and strong growth in new and existing markets of the industry, its revenue and profits will grow manifold in the coming years.

Master Capital Services has also advised to invest money in Gopal Snacks IPO from ‘medium-to-long term’ perspective. The brokerage says that the company intends to strengthen its presence in its core market Gujarat. It also intends to expand its business in Rajasthan, Madhya Pradesh, Maharashtra and Uttar Pradesh. This will increase the company’s income in the coming time.

Giving indication of profit in gray market
According to IPO Watch, a website tracking the gray market, shares of Gopal Snacks are trading at a premium of Rs 70 (Gopal Snacks IPO GMP Today) in the gray market. If we look at the upper price band, investors are expected to get 17 times listing gain.

(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest money in any of these, then first consult a certified investment advisor. AyraNews24x7 is not responsible for any profit or loss of yours. will be.)

,

Tag: business news in hindi, IPO, tips to earn money, stock tips