Gopal Snacks IPO: The listing date of Gopal Snacks Limited has been set as March 14, 2024, i.e. today. As per the information available on the BSE website, the shares of Gopal Snacks will be listed on the BSE and NSE in a special pre-open session during Thursday's trading. The Gopal Snacks share price will be available to traders and investors from 10:00 am today. Meanwhile, on the day of Gopal Snacks' listing, the FMCG company's shares are trading at par in the gray market today.
“Trading participants of the Exchange are hereby informed that the shares of Gopal Snacks Limited will be listed and admitted to trading in the 'B' Group list of securities of the Exchange with effect from Thursday, March 14, 2024,” the BSE said Note says.
According to stock market experts, Gopal Snacks' IPO witnessed strong demand for subscriptions but subdued secondary market sentiment and 100 percent OFS could spoil the listing party. They said Gopal Snacks' listing could be weak as no funds would flow into the company for growth.
Gopal Snacks IPO Price Prediction
Speaking about the listing of Gopal Snacks, Prashanth Tapse, Senior VP – Research, Mehta Equities said, “Considering the subdued secondary market scenario and continued selling pressure in the mid and small cap space, Gopal could be the victim and the listing could be on a one-day basis.” flat line.” to the muted note. The soft listing appears to be justified as the offer was a 100% sell offer and no funds would be injected into the company for growth.
Infographic: Courtesy of mintgenie
Amit Goel, co-founder and chief global strategist at Pace 360, expects a muted debut for Gopal Snacks shares and said, “Gopal Snacks is likely to face a muted listing. The company's fundamentals appear to be weak due to its reliance on a narrower product range and regions. While it has a strong presence in Gujarat, it lacks strength in other regions.”
When asked about the range in which Gopal Snacks' IPO could be listed, VLA Ambala – a SEBI registered research analyst said, “Gopal Snacks is an OFS and hence this IPO too will not utilize funds for business expansion and growth Finance has shown a good growth chart so far. However, this IPO comes as the broader market sentiment for mid-caps and small-caps is becoming increasingly weaker and the impact is also visible in the IPOs. When I add all of these factors together I predict that the IPO will receive a discounted listing early on ₹370 tonnes ₹392 area.” VLA Ambala said that in case of a relief rally on Dalal Street, Gopal Snacks IPO could list nearby ₹392 levels, while the Gopal Snacks IPO could trade nearby in case of further extension of selling pressure ₹370 levels each.
Gopal Snacks IPO GMP today
According to market observers, the FMCG company's shares are trading at par in the gray market today. This means that Gopal Snacks' IPO GMP (gray market premium) is zero today. So the gray market suggests that Gopal Snacks IPO will be priced at around 50% ₹401.
Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerage firms and not of Mint. We recommend investors consult certified experts before making an investment decision.
Discover a world of benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized news feed – it's all here, just a click away! Log in now!
Topics that might interest you
Comments are closed.