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Goyal Salt IPO is a book build issue of ₹18.63 crores. The issue is entirely a fresh issue of 0.49 crore shares of ₹18.63 crore.
Goyal Salt IPO bidding started from Sep 26, 2023 and ended on Oct 3, 2023. The allotment for Goyal Salt IPO was finalized on Oct 5, 2023. The shares got listed on NSE SME on Oct 11, 2023.
Goyal Salt IPO price band is set at ₹38.00 per share . The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,08,000 (3000 shares). The minimum lot size investment for HNI is 2 lots (6,000 shares), amounting to ₹2,28,000.
The issue includes a reservation of up to 90,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Holani Consultants Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Holani Consultants Pvt.Ltd..
Refer to Goyal Salt IPO RHP for detailed Information.
| IPO Date | September 26, 2023 to October 3, 2023 |
| Listing Date | October 11, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹36 to ₹38 per share |
| Issue Price Final | ₹38 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 49,02,000 shares (aggregating up to ₹18.63 Cr) |
| Reserved for Market Maker | 2,46,000 shares Holani Consultants Pvt.Ltd. (aggregating up to ₹0.9348 Cr) |
| Net Offered to Public | 46,56,000 shares (aggregating up to ₹17.69 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,29,98,250 shares |
| Share Holding Post Issue | 1,79,00,250 shares |
Goyal Salt IPO offers total 49,02,000 shares. Out of which 21,99,000 (44.86%) allocated to QIB, 8,82,000 (17.99%) allocated to QIB, 7,29,000 (14.87%) allocated to NII, 16,38,000 (33.41%) allocated to RII and 13,17,000 (26.87%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,46,000 (5.02%) |
| QIB Shares Offered | 21,99,000 (44.86%) |
| − Anchor Investor Shares Offered | 13,17,000 (26.87%) |
| − QIB (Ex. Anchor) Shares Offered | 8,82,000 (17.99%) |
| NII (HNI) Shares Offered | 7,29,000 (14.87%) |
| Retail Shares Offered | 16,38,000 (33.41%) |
| Employee Shares Offered | 90,000 (1.84%) |
| Total Shares Offered | 49,02,000 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Goyal Salt IPO raises ₹5.00 crore from anchor investors. Goyal Salt IPO Anchor bid date is September 25, 2023. Goyal Salt IPO Anchor Investors list
| Bid Date | September 25, 2023 |
| Shares Offered | 13,17,000 |
| Anchor Portion Size (In Cr.) | 5.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 4, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 3, 2024 |
Goyal Salt IPO opens on September 26, 2023, and closes on October 3, 2023.
| IPO Open Date | Tue, Sep 26, 2023 |
| IPO Close Date | Tue, Oct 3, 2023 |
| Tentative Allotment | Thu, Oct 5, 2023 |
| Initiation of Refunds | Fri, Oct 6, 2023 |
| Credit of Shares to Demat | Mon, Oct 9, 2023 |
| Tentative Listing Date | Wed, Oct 11, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Oct 3, 2023 |
Investors can bid for a minimum of 3,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,14,000 |
| Retail (Max) | 1 | 3,000 | ₹1,14,000 |
| HNI (Min) | 2 | 6,000 | ₹2,28,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2010, Goyal Salt Limited is engaged in the business of refining raw salts procured from sub-soil brine in the state of Rajasthan for use as industrial salts and edible salts.
Goyal Salt Limited refines and supplies a pure, refined, and quality range of triple-refined free-flow iodized salt, industrial salt, double-fortified salt, and triple-refined half-dry salt. The company's product list includes Refined free-flow iodized Salt, Refined Free Flow Industrial Salt, Double Fortified Salt, and Refined Half Dry Salt. The company sources raw materials mainly from open market purchases which is around 75% of the total requirement of raw salt, as well as from its promoters-controlled entities and salt land harvesting owned by them, which supply around 23% and 2% respectively of the total requirement of the raw material.
The company also produces and supplies industrial salt for soap and detergent industries, textile and dyeing industries, industries producing glass, polyester, plastics, rubber, and leather, and chemical industries.
The company's refinery is located in Nawa City, adjacent to Sambhar Lake, spread across 1.45 Hectares of land. The company also has lease rights to harvest raw salt over 18.66 Hectares of land issued by the Government of Rajasthan in the vicinity of the salt-producing area of Nawa City in Rajasthan.
Goyal Salt recorded Rs. 6,005.30 lakhs in Fiscal 2022-23.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 2,745.93 | 2,733.41 | 3,000.94 |
| Total Income | 6,012.96 | 6,615.00 | 11,770.68 |
| Profit After Tax | 68.15 | 62.75 | 353.74 |
| Net Worth | 1,121.57 | 1,169.12 | 1,618.11 |
| Reserves and Surplus | 921.99 | 969.54 | 534.92 |
| Total Borrowing | 1,297.36 | 1,059.80 | 920.11 |
The market capitalization of Goyal Salt IPO is ₹68.02 Cr.
| KPI | Values |
|---|---|
| ROE | 25.38% |
| ROCE | 36.22% |
| Debt/Equity | 0.57 |
| RoNW | 21.86% |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] Though the company is operating in a highly competitive and fragmented segment. It posted static bottom lines for FY21 and FY22, but its bottom line surged in FY23 with its thrust on the B2C business model. The company is endeavoring to be a household brand with premium products that will bring more rewards for the company and its stakeholders. Investors may consider parking funds for the medium to long-term rewards in this lucrative field. Read detail review...
| Listing Date | October 11, 2023 |
| BSE Script Code | |
| NSE Symbol | GOYALSALT |
| ISIN | INE0QFE01017 |
| Final Issue Price | ₹38 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹38.00 |
| Open | ₹130.00 |
| Low | ₹123.50 |
| High | ₹136.50 |
| Last Trade | ₹136.10 |
Goyal Salt Ltd.
Plot No. 229-230, Guru Jambeshwar Nagar,
Lane No. 7 Gandhi Path,
Vaishali Nagar,
Jaipur, Rajasthan, 302021
Phone: +91 - 9116544418
Email: cs@goyalsalt.in
Website: https://goyalsaltltd.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Goyal Salt IPO is a SME IPO of 49,02,000 equity shares of the face value of ₹10 aggregating up to ₹18.63 Crores. The issue is priced at ₹38 per share. The minimum order quantity is 3000.
The IPO opens on September 26, 2023, and closes on October 3, 2023.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Goyal Salt IPO using UPI as a payment gateway. Zerodha customers can apply in Goyal Salt IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Goyal Salt IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Goyal Salt IPO opens on September 26, 2023 and closes on October 3, 2023.
Goyal Salt IPO lot size is 3000, and the minimum amount required for application is ₹1,14,000.
You can apply in Goyal Salt IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Goyal Salt IPO will be done on Thursday, October 5, 2023, and the allotted shares will be credited to your demat account by Monday, October 9, 2023. Check the Goyal Salt IPO allotment status.
The Goyal Salt IPO listing date is on Wednesday, October 11, 2023.
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