Today, March 14, 2024, marks the listing date for Gopal Snacks Limited’s initial public offering (IPO). Shares of Gopal Snacks will be available for trading on both the BSE and the NSE starting at 10:00 AM during a special pre-open session.
The BSE has announced that Gopal Snacks shares will be listed in the ‘B’ Group of Securities. Despite healthy subscription demand for the IPO, experts warn of a potentially soft listing due to the subdued secondary market sentiment and the offering being 100 percent offer for sale (OFS), meaning no funds will be directed towards the company’s growth.
Prashanth Tapse from Mehta Equities suggests that given the current market scenario, Gopal Snacks may see a flat to muted listing. Amit Goel from Pace 360 predicts a muted debut, highlighting the company’s reliance on a limited range of products and regions.
VLA Ambala, a SEBI registered research analyst, foresees a discounted listing in the range of ₹370 to ₹392, considering the weak market sentiments. However, in case of a relief rally, the IPO may list close to ₹392, while an extension of selling pressure could see it closer to ₹370.
In the grey market, Gopal Snacks IPO is trading at par today, indicating a zero grey market premium (GMP). This suggests that the IPO listing price is expected to be around ₹401 according to the grey market.”
20kpov