FMCG company Gopal Snacks has raised Rs 193.95 crore through anchor book on March 5, a day before the public issue's opening.
The IPO, which comprises only an offer-for-sale (OFS) of Rs 650 crore worth shares, will be opened for subscription on March 6. The final bidding date will be March 11.
The ethnic and western snacks maker informed exchanges that it has finalised allocation of 48,36,657 equity shares to anchor investors at a price of Rs 401 per equity share.
Ashoka Whiteoak ICAV, Whiteoak Capital Mutual Fund, DSP Mutual Fund, Quant Mutual Fund, 360 One Special Opportunities Fund, and Natixis International Funds invested in the company through anchor book.
Further, Optimix Wholesale Global Emerging Markets Share Trust, BNP Paribas Funds, HDFC Life Insurance Company, ITI Mutual Fund, Leading Light Fund VCC, Bay Capital, India Fund, BofA Securities Europe SA, and Copthall Mauritius Investment also participated in the anchor book.
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"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," Glopal Snacks said in its filing to exchanges.
The company will not receive money from the public issue and the entire IPO proceeds will go to the selling shareholders.
The Rajkot-based savory snacks maker under the Gopal brand said promoters Gopal Agriproducts and Bipinbhai Vithalbhai Hadvani will be selling equity shares worth Rs 520 crore and Rs 80 crore in the OFS respectively, while the remaining shares worth Rs 50 crore will be sold by other shareholder Harsh Sureshkumar Shah.
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Promoters hold 93.5 percent shares in the company that offers ethnic snacks, western snacks and other products in ten States and two Union Territories.
The remaining 6.5 percent stake is owned by public shareholders including Axis Growth Avenues AIF – I, and Ashoka India Equity Investment Trust Plc with 1.48 percent stake each.
The price band for the public issue has been fixed at Rs 381-401 per share.
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