The company had set the price band for its initial public offering (IPO) at Rs 381 to Rs 401 per equity share and had successfully raised Rs 650 crore from investors through an entirely fresh issue of 16.2 million shares.
Ahead of its listing, the company’s stock was reportedly trading at a discount of over 6% in the grey market, which is an unofficial market where shares are traded illegally before their official listing on stock exchanges.
The retail subscription for Gopal Snacks’ IPO opened on March 6 and closed on March 11, with retail bidders required to subscribe for a minimum of 37 shares amounting to Rs 14,837 and in multiples thereafter. Additionally, the company had set aside around 96,500 shares for its employees, which were offered at a discounted price of Rs 38 per share.
This story is from the March 15, 2024 edition of The Business Guardian.
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This story is from the March 15, 2024 edition of The Business Guardian.
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