Gopal Snacks IPO Allotment Status

About the Gopal Snacks Ltd (Gopal Namkeen) IPO

Gopal Snacks Ltd (Gopal Namkeen) was founded in the year 1999 to deal in Indian ready-to-eat-snacks with a strong Indian ethnic flavour. However, the stock also deals in Western snacks and its products are well received in India and also internationally. Some of its popular Indian snack products include ethnic varieties like namkeen and gathiya, as well as western snacks like wafers, extruded snacks, and snack pellets. The company also offers snack-related FMCG products like papad, spices, gram flour or besan, noodles, rusk, and soan papdi. Gopal Snacks Ltd (Gopal Namkeen), as of last record, has a total of 84 products in its portfolio with nearly 276 stock keeping units (SKUs). These cater to a wide gamut of tastes, preferences, ethnicities and also to distinct markets. The snack products of Gopal Snacks Ltd (Gopal Namkeen) are currently sold across 523 locations spread across 10 states and two Union Territories.

The company has a massive feet-on-street sales force for push sales. Its sales and marketing team comprises 741 employees. The marketing network is enhanced with 3 depots and 617 distributors. Gopal Snacks Ltd (Gopal Namkeen) also has a fleet of 263 logistics vehicles to fully support and service its vast network of offices and distribution centres. The company has a total of 6 manufacturing units, of which 3 are primary manufacturing units and 2 are ancillary manufacturing units. While the primary manufacturing units are located in Nagpur, Rajkot, and Modasa (Gujarat). The two ancillary units are located at Rajkot and Modasa. The total installed capacity of Gopal Snacks Ltd (Gopal Namkeen) is 404,729 MT. It also has a long standing relationship with its distributors.

The company is entirely an offer for sale, so there are no fresh funds coming in. Promoters currently hold 93.50% in the company, which will get diluted post the IPO to 80.49%. The Gopal Snacks IPO will be lead managed by Intensive Fiscal Services, Axis Capital, and JM Financial, while Link Intime India Private Ltd will be the IPO registrar.

Checking the allotment status of Gopal Snacks Ltd (Gopal Namkeen) on BSE website

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below. 

https://www.bseindia.com/investors/appli_check.aspx 

Once you reach the page, here are the steps to follow.
    • Under Issue Type – Select Equity Option
    • Under Issue Name – Select Gopal Snacks Ltd (Gopal Namkeen)   from the drop down box
    • Enter the Application Number exactly as in the acknowledgement slip
    • Enter the PAN (10-digit alphanumeric) number
    • Once this is done, you need to click on the Captcha to verify that you are not a robot
    • Finally click on the Search Button

In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Gopal Snacks Ltd (Gopal Namkeen)   allotted into your demat account. It is always advisable to save a screenshot of the allotment status output for subsequently verifying with the demat account credits on or after 13th March 2024. The stock of Gopal Snacks Ltd (Gopal Namkeen)  will appear in the demat account (if allotted) under ISIN Number (INE0L9R01028).

Checking the allotment status on Link Intime India Private Limited (Registrar to the IPO)

Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:

https://linkintime.co.in/IPO/public-issues.html

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Link Intime India Private Ltd by clicking on the Public Issues link displayed prominently on the home page. It all works the same.

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Gopal Snacks Ltd (Gopal Namkeen)   from the drop-down box. In the case of Gopal Snacks Ltd (Gopal Namkeen) , data access will be allowed late on 12th March 2024 or by middle of 13th March 2024. 

• There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly.

• If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return.

• The second option is to use the Application Number that you used while making an application for the IPO. The application number is available on the acknowledgement provided to you and you can use that as one of the options to access allotment status.

• The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single string. This DPID / Client ID combination is a numeric figure for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.

• The fourth option is to query based on the combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application. Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account.

• Finally, click on the Search button

The IPO status with number of shares of Gopal Snacks Ltd (Gopal Namkeen)   allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records. The same can be verified with the demat account on 13th March 2024 or after that. The stock is expected to list on 14th March 2024. The only question now is, what determines chances of allocation in the IPO? It boils down to allocation quota and subscription levels.

Allocation quota for Gopal Snacks Ltd (Gopal Namkeen)  

The table below captures the quota allocated to various categories, in terms of the number of shares and also the percentage of the total share capital raised. For investors it is the quota for the retail and the HNI that really matters.

Data Source: BSE

We now turn to how the various categories of investors in the IPO of Gopal Snacks Ltd (Gopal Namkeen) put in their bids.

Subscription levels for Gopal Snacks Ltd (Gopal Namkeen)  

The next thing to look at is the extent of subscription. The table below captures the extent of oversubscription for each of the categories as well as the overall subscription for Gopal Snacks Ltd (Gopal Namkeen).

Data Source: BSE

The response to the IPO of Gopal Snacks Ltd (Gopal Namkeen)  was very modest overall, and the subscriptions were especially modest for the retail and the HNI / NII portion. The QIB portion got subscribed 17.50 times while the HNI / NII portion got subscribed 9.50 times. The Retail portion was subscribed 4.01 times resulting in an overall subscription of 9.02 times for the IPO. This is much lower than the median subscription that most IPOs get on the IPO mainboard, especially in the recent past.

Next steps after the closure of the Gopal Snacks Ltd (Gopal Namkeen)

The issue opened for subscription on 06th March 2024 and closed for subscription on 11th March 2024 (both days inclusive). The basis of allotment will be finalized on 12th March 2024 and the refunds will be initiated on 13th March 2024. In addition, the demat credits are expected to also happen on 13th March 2024 and the stock will list on 14th March 2024 on the NSE and the BSE in the mainboard segment. Gopal Snacks Ltd (Gopal Namkeen) will test the appetite for such small FMCG stocks in India. The credits to the demat account to the extent of shares allotted will happen by the close of 13th March 2024 under ISIN (INE0L9R01028). 

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been very modest in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.