Gopal Snacks witnessed a lacklustre debut on the bourses today, with its share price opening lower than the issue price. On the NSE, Gopal Snacks started at ₹351 per share, down 12.47% from the issue price of ₹401, while on the BSE, it opened at ₹350 apiece, reflecting a 12.72% decline. However, as market sentiment turned slightly positive, Gopal Snacks’ share price managed to recover by over 3%, trading at ₹363 apiece on the NSE at 13:13 IST.
Experts had anticipated the listing of Gopal Snacks’ share price in the range of ₹370 to ₹392 apiece. The IPO subscription status on the BSE showed strong demand, with the QIB portion oversubscribed by 17.50 times, the NII portion by 9.50 times, and the retail investors portion by 4.01 times. Additionally, the employee portion was oversubscribed by 6.87 times.
The public issue reserved not more than 50% of the shares for QIBs, at least 15% for NIIs, and a minimum of 35% for retail investors. Eligible employees were offered a discount of ₹38 per equity share, with a total of ₹3.5 crore worth of reserved equity shares allocated for them.
The IPO price band was set between ₹381 to ₹401 per equity share of face value Re 1, with a lot size of 37 equity shares and multiples thereafter. Despite the lacklustre debut, Gopal Snacks’ share price managed to garner some recovery amid positive market sentiment.
