Gopal Snacks, a renowned ethnic snack manufacturer, experienced a lackluster debut as its IPO listed at a 12.5% discount from the issue price of Rs 381 to 401 per share.
Despite oversubscription in the retail category, the company's stock saw a 6% discount in the grey market. Notably, the IPO raised Rs 650 crore through a fresh issue of 16.2 million shares, with retail bidders required to subscribe for a minimum of 37 shares. Intensive Fiscal Services, Axis Capital, and JM Financial managed the IPO, while allotment was finalized on March 12.