Key Points
The initial public offer (IPO) of namkeen and wafer maker Gopal Snacks sailed through on second day of the bidding process on Thursday..
The issue garnered 1.04 times bids, with retail portion subscribed 2.73 times while the non-institutional investors' quota was booked 1 time..
The portion for qualified institutional buyers (QIB) was subscribed 0.08 times...
We believe that valuations of the company are fairly priced and recommend a Subscribe-Long Term rating to the IPO," it said.. Geojit has also recommended a 'Subscribe' rating backing its strong topline and bottom line growth..
Gopal Snacks a fast-moving consumer goods (FMCG) company in India with a major presence in Gujarat, offering a wide variety of savoury products under its brand Gopal, including ethnic snacks such as namkeen and gathiya, western snacks such as wafers, snack pellets and extruder snacks...
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