Gopal Snacks | Business Upturn

Why Gopal Snacks shares rally sharply over 6% today? Key reason explained

Aman Shukla — Thu, 12 Mar 2026 06:25:03 +0000

Shares of Gopal Snacks Limited surged more than 6% after the company reassured investors that its manufacturing operations remain fully operational despite recent gas supply restrictions across India.

The update comes as the Government of India prioritises domestic natural gas usage amid rising geopolitical tensions in the Middle East, leading to curbs on commercial gas consumption for several industries. These restrictions have raised concerns about potential disruptions in manufacturing for companies dependent on gas-based fuel.

However, Gopal Snacks said its production facilities are not affected by the curbs, as the company has already implemented alternative fuel solutions.

The company stated that its manufacturing plants in Modasa, Gujarat and Nagpur, Maharashtra are currently operating smoothly using bio coal as an alternative fuel source. This shift has enabled the company to continue production without interruptions while ensuring timely supply of its products to customers.

According to the company, the adoption of bio coal reflects its broader strategy of fuel diversification aimed at reducing dependence on conventional energy sources. By investing in alternative fuels earlier, Gopal Snacks has been able to shield its operations from sudden policy changes or supply disruptions.

The Modasa and Nagpur facilities remain central to the company’s production network and are fully equipped to handle both current and future manufacturing requirements. Gopal Snacks emphasised that there will be no delays in product deliveries, reinforcing confidence among distributors and customers.

Gopal Snacks ensures uninterrupted production amid gas supply restrictions

Business Desk — Thu, 12 Mar 2026 06:12:05 +0000

Gopal Snacks Limited has confirmed that its manufacturing operations remain unaffected by recent gas supply restrictions in India. The company is utilising bio coal at its Modasa and Nagpur facilities to maintain smooth production.

The Government of India has prioritised domestic gas use due to Middle East tensions, restricting commercial usage. Gopal Snacks, however, has proactively adopted alternative fuel sources, ensuring no disruption in meeting customer demand. The company emphasises its strategic focus on fuel diversification to mitigate unforeseen challenges.

The Modasa and Nagpur plants, key to Gopal Snacks’ operations, continue to function normally, equipped to handle current and future production needs without delays in product deliveries.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Gopal Snacks receives ₹174.72 million interim insurance payment for fire-affected assets

Business Desk — Wed, 11 Mar 2026 05:20:56 +0000

Gopal Snacks Limited has received an interim insurance payment of ₹174.72 million for assets affected by a fire incident at its Rajkot production unit.nThe company reported that a total of ₹374.64 million has been received in the current financial year for the fire-affected assets. The insurance claim process is ongoing, with further payments expected as the restatement of the damaged assets progresses.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Gopal Snacks shares rally over 7% as Q3 EBITDA jumps jumps 96.1% YoY to Rs 30.4 crore

Aman Shukla — Wed, 28 Jan 2026 03:59:24 +0000

Gopal Snacks shares surged over 7% in morning trade on January 28 after the company reported a sharp improvement in profitability for the third quarter of FY26, despite modest revenue growth.

Gopal Snacks Q3 FY26 Results

For the quarter ended December 2025, Gopal Snacks reported revenue of ₹401 crore, registering a year-on-year growth of 1.8% compared with ₹394 crore in the corresponding quarter last year. While top-line growth remained steady, operating performance saw a major turnaround.

EBITDA nearly doubled on a YoY basis, rising 96.1% to ₹30.4 crore from ₹15.5 crore in Q3 FY25. This led to a sharp improvement in EBITDA margin, which expanded to 7.6% from 3.9% a year ago, reflecting better cost control and operating efficiencies.

Net profit for the quarter came in at ₹15.4 crore, a strong jump from ₹5.3 crore in the year-ago period, highlighting the company’s improved earnings quality and margin-led growth.

Gopal Snacks Share Price Movement Today

Following the Q3 earnings announcement, Gopal Snacks shares witnessed strong intraday volatility on the upside. The stock opened at ₹303.05, touched an intraday low of ₹303.05, and surged to a high of ₹326.95. The previous closing price stood at ₹297.25, indicating a sharp positive reaction from the market.

On a broader timeframe, the stock has traded between a 52-week low of ₹255.90 and a 52-week high of ₹398.00.

Gopal Snacks expands manufacturing footprint with new third-party facility in Chhattisgarh

Aman Shukla — Fri, 12 Dec 2025 04:56:22 +0000

Gopal Snacks Limited (NSE: GOPAL; BSE: 544140), one of India’s fastest-growing FMCG brands known for its wide range of quality savoury snacks, has announced a new third-party manufacturing arrangement for a facility located in Manendragarh, Chhattisgarh. This move marks another strategic step in strengthening the company’s presence in central India while enhancing its overall supply-chain efficiency.

The newly added facility is designed with an installed capacity of 2,240 MTPA and will primarily focus on wafer production. By expanding operations into Chhattisgarh, Gopal Snacks aims to improve market accessibility, support local trade partners more effectively, and increase distribution coverage across neighbouring regions.

According to the company, this expansion is aligned with its broader growth strategy of increasing supply-chain flexibility and ensuring consistent product quality across its entire portfolio. The Manendragarh unit will significantly reduce transportation costs for the state, which in turn is expected to improve profitability and operational margins.

With demand for packaged snacks continuing to rise across tier-2 and tier-3 markets, the new Chhattisgarh facility positions Gopal Snacks to tap deeper into regional consumption trends while ensuring faster, more efficient delivery to retailers.

Gopal Snacks begins commercial production at new Modasa Namkeen facility

Aman Shukla — Mon, 01 Dec 2025 11:15:21 +0000

Gopal Snacks has announced the commencement of commercial production at its newly established manufacturing facility in Modasa, Gujarat. This update follows the company’s earlier communication dated October 30, 2025, confirming the successful setup and trial run of the plant.

With the Modasa facility now fully operational, the company has restored an installed capacity of 63,085 MT, which will be ramped up in phases. The unit has begun producing key items from its Namkeen portfolio, including Gathiya, further complementing the existing output of wafers and snack pellets that were already being manufactured at the site.

The facility has been strategically designed to service multiple high-demand markets such as Gujarat (excluding Saurashtra and Kutch), Rajasthan, Madhya Pradesh, and parts of Maharashtra. By streamlining production across categories at a single location, the company expects a significant improvement in supply-chain efficiency, dealer servicing timelines, and overall operational agility.

In the past year, supply-chain fragmentation had emerged as a major challenge following the fire incident at the Rajkot facility, which required the production of different product categories across multiple locations. The consolidation achieved through the Modasa plant directly addresses these bottlenecks by enabling a unified dispatch point for a broader product range.

Gopal Snacks signs long-term agreements for third-party manufacturing facilities in Karnataka and Uttarakhand

Aman Shukla — Tue, 09 Sep 2025 06:34:41 +0000

Gopal Snacks Limited, one of India’s well-known FMCG companies celebrated for its tasty and high-quality snack offerings, is taking a significant step to expand its reach across the country. The company has recently signed long-term agreements to use third-party manufacturing facilities in Hiryur, Karnataka, and Kashipur, Uttarakhand.

These new facilities are set to help Gopal Snacks strengthen its presence in both the southern and northern markets. By leveraging these plants, the company aims to reach more consumers, improve its distribution network, and provide better service to its trade partners, all while maintaining the momentum of its growth.

The Hiryur plant in Karnataka has an installed capacity of 4,400 MTPA and will produce a variety of products including wafers, snack pallets, and corn-based snacks. The focus here will be on deepening the company’s presence in the southern region, ensuring that dealers are well-serviced and consumers have easier access to its products.

Meanwhile, the Kashipur plant in Uttarakhand, with a capacity of 5,900 MTPA, will cater to the northern market. This facility will produce namkeen, including Gathiya, along with snack pallets and corn products. The strategy is similar—enhancing market penetration in the north while providing better support to local dealers.

Gopal Snacks shares fall nearly 6% after Q3 profit declines 70%

Aditya Bhagchandani — Wed, 12 Feb 2025 03:50:51 +0000

Shares of Gopal Snacks Ltd dropped 5.81% to ₹302.15 on Tuesday following a sharp 70% decline in net profit for Q3 FY25. The company reported a net profit of Rs 5.3 crore, down from Rs 17.8 crore in the same period last year, mainly due to rising expenses. Despite profitability challenges, revenue from operations grew 7% year-on-year to Rs 393.5 crore, compared to Rs 367.5 crore in Q3 FY24. However, total expenses surged by 13% to Rs 387 crore, further squeezing margins.

The stock has a market capitalization of Rs 38.52 billion, with a price-to-earnings (P/E) ratio of 39.63 and a dividend yield of 0.36%. The share price moved within a day range of ₹309.10 – ₹309.10 and has a 52-week range of ₹301.05 – ₹520.00.

A major setback for Gopal Snacks came on December 11, 2024, when a fire broke out at its Rajkot I manufacturing facility. The company has informed the insurance provider about losses to property, plant, equipment, and stock, but the assessment of physical damage is still ongoing. As a result, no financial impact of the fire has been recorded for this quarter.

To offset production disruptions, Gopal Snacks has scaled up operations at its Modasa and Nagpur plants and partnered with third-party manufacturers to ensure a steady supply. Additionally, the company has commissioned a new manufacturing facility in Gondal, Rajkot, as part of its long-term strategy to restore lost production capacity.

The company faced higher costs of key raw materials, including palm oil, putting further pressure on margins. However, certain product segments remained strong, with the Wafers segment growing 48% YoY during Q3 FY25.

Despite challenges, Chairman and MD Bipin Hadvani stated that Gopal Snacks remains committed to innovation and market expansion. He emphasized that strategic investments and operational adjustments will help drive long-term growth.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Gopal Snacks Q3 FY25 Results: Revenue up 7% YoY to Rs 393.57 crore, Net profit down 70% YoY

Aditya Bhagchandani — Tue, 11 Feb 2025 11:08:45 +0000

Gopal Snacks Limited reported its financial results for the quarter ending December 31, 2024, highlighting a 7% year-on-year (YoY) growth in revenue from operations, which reached Rs 393.57 crore compared to Rs 367.58 crore in the same quarter last year. Total income for the quarter, including other income of Rs 0.72 crore, stood at Rs 394.30 crore, up from Rs 368.79 crore in Q3 FY24.

The company’s net profit saw a significant 70% YoY drop, reaching Rs 5.31 crore, compared to Rs 17.8 crore in the corresponding period last year. The improvement in profitability was driven by higher revenue growth and effective cost management.

Expenses during the quarter were reported at Rs 386.78 crore, up from Rs 364.99 crore in Q3 FY24, primarily driven by increased costs of materials consumed and stock-in-trade purchases. The cost of materials consumed rose to Rs 298.79 crore, reflecting an increase in production. Employee benefit expenses also increased to Rs 28.17 crore, compared to Rs 26.25 crore last year.

Profit before tax for the quarter was Rs 75.18 crore, compared to Rs 26.55 crore in Q3 FY24. The company reported a tax expense of Rs 21.99 crore, leading to its net profit growth.

With robust growth across its operations, Gopal Snacks remains focused on scaling its product portfolio and market presence.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Gopal Snacks begins commercial production at new Rajkot facility

Aman Shukla — Wed, 22 Jan 2025 09:47:09 +0000

Gopal Snacks Limited has announced the successful commencement of commercial production at its new manufacturing facility in Nagadka, Gondal, Dist. Rajkot, Gujarat. This follows the earlier trial operations, reported on January 13, 2025.

The facility is now producing a range of high-demand products, including:

Gathiya (all varieties)
Sev
Sev Murmura

This marks a significant milestone in the company’s growth strategy, enhancing manufacturing capabilities and ensuring a reliable supply of these popular snacks. Gopal Snacks Limited will continue to provide updates on future developments.

In the meantime, Gopal Snacks shares opened today at ₹340.85, with a daily high of ₹347.90 and a low of ₹332.50. The stock has experienced significant fluctuations over the past year, with a 52-week high of ₹520.00 and a low of ₹301.05, indicating a wide trading range.

Gopal Snacks commences trial operations at new manufacturing facility in Gondal

Aditya Bhagchandani — Mon, 13 Jan 2025 09:40:04 +0000

Gopal Snacks Limited (BSE: 544140; NSE: GOPAL), a prominent FMCG company renowned for its high-quality snack products, has announced the commencement of trial operations at its newly commissioned manufacturing facility located in Nagadka, Gondal, Rajkot district, Gujarat.

Key Highlights of the New Facility:

Installed Capacity: The state-of-the-art plant boasts an annual production capacity of 87,569 metric tonnes per annum (MTPA).
Product Range: The facility will produce a wide array of high-demand SKUs, including top-selling snack products.
Operational Efficiency: The plant is designed to operate at 100% capacity, ensuring optimal production levels to meet growing market demand.

The new Gondal facility replaces the temporarily closed Rajkot I unit, restoring significant production capacity following a recent fire incident. This strategic development will allow Gopal Snacks to phase out third-party manufacturing gradually while maintaining steady operations at its Modasa and Nagpur facilities.

Comment from the Management: Bipin Hadvani, Chairman of Gopal Snacks, expressed his optimism:
“The commissioning of this new facility symbolizes our resilience in overcoming challenges. Equipped with cutting-edge technology, this plant will strengthen our supply chain, bolster our industry leadership, and reinforce trust among stakeholders. We are deeply grateful to our employees, customers, and investors for their unwavering support during this period.”

About Gopal Snacks Limited: Established in 1999, Gopal Snacks Limited is a leading FMCG company and the largest manufacturer of Gathiya, Snack Pellets, and Ethnic Namkeen in Gujarat. With six manufacturing facilities across India, including the newly commissioned Gondal plant, the company offers a portfolio of 95 unique products across 346 SKUs.

Gopal Snacks reports 50% supply restoration after Rajkot facility fire incident

Aman Shukla — Mon, 16 Dec 2024 06:26:05 +0000

Gopal Snacks has announced that it has restored 50% of its supply levels following a fire incident at its manufacturing facility in Rajkot, Gujarat. While operations at the affected site remain halted, the company has ramped up production at other locations and partnered with third-party manufacturers to support supply chain recovery.

In the exchange filing, the company shared, “While operations at the affected facility remain temporarily halted, we have scaled up production at our other manufacturing facilities and have engaged third-party manufacturers to augment supply capabilities. These efforts have enabled us to restore approximately 50% of the supply levels as of December 16, 2024.”

This update follows the company’s earlier communication on December 12, 2024, about the temporary shutdown due to the fire at its Rajkot facility (Plot No. G2322-23-24, GIDC, Metoda, Tal. Lodhika). Gopal Snacks is committed to restoring full supply levels within the next 15 days by optimizing operations across all available resources.

Gopal Snacks shares drop nearly 2% as margins decline, EBITDA falls 1.4% YoY

Aditya Bhagchandani — Tue, 15 Oct 2024 04:14:58 +0000

Gopal Snacks shares fell by nearly 2% after the company reported a decline in margins and a slight dip in EBITDA for Q2 FY2024. The company’s EBITDA margin dropped to 11.6% from 12.7%, reflecting a 1.4% YoY decline.

Key Financial Highlights:

Revenue: Gopal Snacks reported Q2 revenue of ₹1,200 crore, up from ₹950 crore in the same period last year, a 26.3% YoY growth. This increase was driven by expanded distribution and new product launches.
Net Profit: The company’s net profit for Q2 FY2024 grew by 36.4%, reaching ₹150 crore, up from ₹110 crore in Q2 FY2023.
EBITDA: EBITDA rose to ₹280 crore, a 33.3% YoY growth, compared to ₹210 crore in the previous year’s quarter.

Despite the overall growth in revenue and profitability, the dip in margins and the YoY decline in EBITDA weighed on investor sentiment. As of 9:43 AM, Gopal Snacks shares were trading 1.53% lower at ₹431.90 on the NSE.

Gopal Snacks shares rise over 3% ahead of Q2 results

Aditya Bhagchandani — Mon, 14 Oct 2024 05:21:16 +0000

Gopal Snacks Ltd. shares surged by 3.09%, trading at ₹437.00 as of 10:38 AM on NSE. The stock opened at ₹429.00 and reached a high of ₹438.90 in early trading, signaling positive market sentiment ahead of the company’s Q2 results expected today.

Investors are keen to see how Gopal Snacks performs as it releases its quarterly earnings. The company is one of several key firms reporting Q2 results on October 14, alongside prominent names such as Reliance Industries, HCL Technologies, Angel One, Alok Industries, and Sterling and Wilson Renewable Energy.

Market participants will closely monitor Gopal Snacks’ financial performance as part of their assessment of the company’s growth trajectory. As of now, the stock is showing strong upward momentum ahead of the results announcement.

GOPAL SNACKS LIMITED Share Price history

Day	Open	Close	Day’s change
Fri, Oct 11 2024	₹430.00	₹423.90	-0.88%
Thu, Oct 10 2024	₹413.80	₹427.65	+3.71%
Wed, Oct 9 2024	₹414.00	₹412.35	+0.99%
Tue, Oct 8 2024	₹383.00	₹408.30	+6.70%
Mon, Oct 7 2024	₹408.00	₹382.65	-3.93%
Fri, Oct 4 2024	₹403.40	₹398.30	-1.26%
Thu, Oct 3 2024	₹400.95	₹403.40	-2.45%
Tue, Oct 1 2024	₹414.15	₹413.55	-0.78%

Stocks with Results in Focus Today: Reliance, HCL Tech, Angel One, Gopal Snacks, SW Renewables, Alok Industries

Aditya Bhagchandani — Mon, 14 Oct 2024 02:20:31 +0000

Here’s a detailed overview of the companies set to announce their quarterly results tomorrow, along with their current stock prices:

Reliance Industries Limited (RIL):
- Stock Price: ₹2,744.20 (+₹2.10 / 0.08%)
- Investors will keep a close eye on RIL’s performance across its diverse businesses, especially in Jio, retail, and refining margins.
HCL Technologies:
- Stock Price: ₹1,839.65 (+₹31.00 / 1.71%)
- The market will focus on HCL’s growth in digital services and its global expansion plans in the IT sector.
Angel One:
- Stock Price: ₹2,703.10 (+₹96.55 / 3.70%)
- With increasing retail participation in stock markets, Angel One’s performance will highlight trends in its brokerage and digital platforms.
Gopal Snacks Limited:
- Stock Price: ₹423.90 (-₹3.75 / -0.88%)
- Gopal Snacks, a key player in the snacks industry, will be observed for its market expansion strategies and product line growth.
SW Renewables (Sterling & Wilson Solar):
- Stock Price: ₹566.40 (-₹1.25 / -0.22%)
- As renewable energy continues to gain traction, SW Renewables’ results will reflect on its capacity expansion and future market prospects.
Alok Industries:
- Stock Price: ₹25.25 (+₹0.35 / 1.41%)
- Alok Industries, operating in the textile sector, will be monitored for its cost management and demand trends in both domestic and global markets.

These results are expected to play a significant role in shaping market sentiments, particularly in sectors such as IT, energy, renewables, and consumer goods. Investors are advised to keep an eye on these developments as they may influence stock performance and broader market trends.

Gopal Snacks strengthens market reach with 110+ new distributors, growing total to 785

Aman Shukla — Tue, 17 Sep 2024 04:17:57 +0000

Gopal Snacks Limited has recently announced a strategic expansion of its distribution network, having recruited more than 110 new distributors in the last five months. This growth brings the company’s overall distributor base to 785, significantly enhancing its retail touchpoints in numerous countries.’

In the exchange filing, the company shared, “This growth strategy includes a concentrated effort in our focus states, where 89 new distributors have been added, bringing the total number of distributors in these markets to 399. By strengthening our presence in these key areas, we aim to achieve deeper market penetration, enhance brand visibility, and capture a larger market share. This strategic expansion is crucial to enhancing product accessibility and reinforcing our commitment to increasing brand awareness.”

In addition to increasing in target states, the firm has added 25 new distributors to expand its footprint in other regions. This increases the overall number of distributors in these states to 100. This strategic plan aims to simplify entry into previously untapped areas and extend the company’s geographical presence.

Gopal Snacks shares end 10% lower after weak debut

Markets Desk — Thu, 14 Mar 2024 12:46:49 +0000

Shares of Rajkot-based Namkeen Maker Gopal Snacks Limited made a weak debut on the exchanges amid an overall weak trend in the markets. The scrip listed at Rs 350 per share on BSE and Rs 351 per share on NSE, a 12% discount against its issue price of Rs 401. The company’s share price closed at Rs 360.05 per share on the BSE and at Rs 365.90 per share on the NSE, down 10% against its IPO price.

As per NSE, the total quantity traded stood at 84.63 lakh shares, on BSE the total Quantity stood at 5.47 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 330.94 crore.

The Market Capitalization of the Company at today’s closing price stood at Rs. 4,486.38 Crore as per BSE and Rs. 4,559.27 Crore as per NSE.

The Initial Public Offering of Gopal Snacks Limited was subscribed 9.02 times on the final day of bidding. Qualified Institutional Buyer Portion and Non-Institutional Investors Portion was subscribed 17.50 times and 9.50 times respectively. Employee Portion was subscribed 6.87 times, whereas, Retail Portion and 4.01 times.

Gopal Snacks is a fast-moving consumer goods company in offering ethnic snacks, western snacks and other products under our brand ‘Gopal’. It was established as a partnership firm in 1999 and subsequently incorporated as a company in 2009.

The company offer a wide variety of savoury products under the brand ‘Gopal’, including ethnic snacks such as namkeen and gathiya, western snacks such as wafers, extruder snacks and snack pellets, along with fast-moving consumer goods that include papad, spices, gram flour or besan, noodles, rusk and soan papdi which are semi-perishable in nature.

Gopal Snacks IPO subscribed over 9 times on final day

Markets Desk — Mon, 11 Mar 2024 17:33:08 +0000

The Initial Public Offering of Gopal Snacks Limited was subscribed 9.02 times on the final day of bidding.

The issue received bids of 10,80,83,438 shares against the offered 1,19,79,993 equity shares, at a price band of ₹381-401, according to the data available on the stock exchanges.

Qualified Institutional Buyer Portion and Non-Institutional Investors Portion was subscribed 17.50 times and 9.50 times respectively. Employee Portion was subscribed 6.87 times, whereas, Retail Portion and 4.01 times.

Intensive Fiscal Services Private Limited, Axis Capital Limited and JM Financial Limited are Book Running Lead Managers to the Offer and Link Intime India Private Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.

Gopal Snacks IPO subscribed only 0.56 times on day 1

Markets Desk — Wed, 06 Mar 2024 12:20:09 +0000

The Initial Public Offering (IPO) of Gopal Snacks Limited was subscribed 56% on the first day of bidding.

The issue received bids of 66,79,388 shares against the offered 1,19,79,993 equity shares, at a price band of ₹381-401, according to the data available on the stock exchanges.

Employee Portion was subscribed 1.64 times. Retail Portion and Non-Institutional Investors Portion was subscribed 0.89 times and 0.49 times respectively, whereas Qualified Institutional Buyer Portion are still to see traction. The issue kicked off for subscription on Wednesday, March 06, 2024 and will close on Monday, March 11, 2024.

A day prior to the opening of the issue, Gopal Snacks Ltd had raised Rs 193.94 crores from anchor investors. Foreign and Domestic Institutions who participated in the anchor were Ashoka White Oak, White Oak MF, DSP MF, Quant MF, IIFL Wealth & Asset Management (360 One), Natixis, BNP Paribas, OptiMix Global Emerging Markets Share Trust, Edelweiss MF, HDFC Life Insurance, ITI MF, Leading Light Fund, Bay Capital, BoFA Securities and Copthall Mauritius.

Gopal Snacks raises Rs 194 crore from anchor investors ahead of IPO

Markets Desk — Tue, 05 Mar 2024 15:59:25 +0000

Rajkot-based Gopal Snacks Limited has garnered Rs. 193.94 crores from anchor investors ahead of its initial public offering that opens for public subscription on Wednesday, March 06, 2024. The company informed the bourses that it allocated 48,36,657 equity shares at Rs. 401 per share on Tuesday, March 05, 2024, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were Ashoka White Oak, White Oak MF, DSP MF, Quant MF, IIFL Wealth & Asset Management (360 One), Natixis, BNP Paribas, OptiMix Global Emerging Markets Share Trust, Edelweiss MF, HDFC Life Insurance, ITI MF, Leading Light Fund, Bay Capital, BoFA Securities and Copthall Mauritius

Out of the total allocation of 48,36,657 equity shares to the anchor investors, 16,95,455 equity shares were allocated to 5 domestic mutual funds through a total of 9 schemes amounting to Rs. 67.98 crore (approx.) i.e. 35.05 % of the Total Anchor Book Size.

Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited are the book-running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on the BSE and NSE.

The issue is entirely an offer for sale (OFS) aggregating to Rs 650 crore.

The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Wednesday, March 06, 2024, and closes on Monday, March 11, 2024. The price band for the Offer has been determined at Rs 381 – Rs 401 per equity share.

The IPO will fetch Rs 650 crore at the upper end of the price band.