Bookbuilding IPO | ₹19 Cr | Listed at NSE SME | Tue, Sep 26, 2023 - Tue, Oct 3, 2023
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 per share. The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,14,000 (3000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Sep 26, 2023
IPO Close
Tue, Oct 3, 2023
Issue Price
₹38 per share
Market Cap (Pre-IPO)
₹68.02 Cr
| IPO Date | 26 Sep to 3 Oct, 2023 |
| Listed on | Wed, Oct 11, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹36 to ₹38 |
| Issue Price | ₹38 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 49,02,000 shares (agg. up to ₹19 Cr) |
| Reserved for Market Maker | 2,46,000 shares Holani Consultants Pvt.Ltd. (agg. up to ₹0.9348 Cr) |
| Fresh Issue (Ex Market Maker) | 46,56,000 shares (agg. up to ₹18 Cr) |
| Net Offered to Public | 46,56,000 shares (agg. up to ₹18 Cr) |
| Share Holding Pre Issue | 1,29,98,250 shares |
| Share Holding Post Issue | 1,79,00,250 shares |
| NSE Symbol | GOYALSALT |
| ISIN | INE0QFE01017 |
Goyal Salt IPO comprises a total issue size of 49,02,000 shares. The net offer to the public is 45,66,000 shares, after excluding 2,46,000 shares allotted on a firm basis and 90,000 shares under a preferential allotment. Of the Net offer 21,99,000 (48.16%) are allocated to QIB, 7,29,000 (15.97%) allocated to NII 16,38,000 (35.87%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 21,99,000 | 48.16% | 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 | 15.97% | 14.87% |
| Retail Shares Offered | 16,38,000 | 35.87% | 33.41% |
| Preferential Reservations | |||
| Employee Shares Offered | 90,000 | 1.84% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,46,000 | 5.02% | |
| Total Shares Offered | 49,02,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| 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 |
Goyal Salt IPO raises ₹5.00 crore from anchor investors. Goyal Salt IPO Anchor bid date is September 25, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Sep 25, 2023 |
| Shares Offered | 13,17,000 |
| Anchor Portion (₹ Cr.) | 5.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Nov 4, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Jan 3, 2024 |
| 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 |
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 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 30.01 | 27.33 | 27.46 |
| Total Income | 117.71 | 66.15 | 60.13 |
| Profit After Tax | 3.54 | 0.63 | 0.68 |
| NET Worth | 16.18 | 11.69 | 11.22 |
| Reserves and Surplus | 5.35 | 9.70 | 9.22 |
| Total Borrowing | 9.20 | 10.60 | 12.97 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure for Quality Enhancement; | 1.13 |
| 2 | Brand Creation and Marketing Expenses | 1.06 |
| 3 | Funding the working capital requirements of our Company | 10.67 |
| 4 | General corporate purposes | 3.70 |
| KPI | |
|---|---|
| ROE | 25.38% |
| ROCE | 36.22% |
| Debt/Equity | 0.57 |
| RoNW | 21.86% |
| PAT Margin | 3.01% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.72 | |
| P/E (x) | 13.97 | 19.19 |
| Promoter Holding | 100% | |
| Market Cap | ₹68.02 Cr. |
The Goyal Salt IPO is subscribed 294.61 times on October 3, 2023 7:29:00 PM (Day 5). The public issue subscribed 377.97 times in the retail category, 67.2 times in the QIB category, and 382.45 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 67.2 | 8,82,000 | 5,92,71,000 |
| NII* | 382.45 | 7,29,000 | 27,88,08,000 |
| Retail | 377.97 | 16,38,000 | 61,91,13,000 |
| Total | 294.61 | 32,49,000 | 95,71,92,000 |
Total Application : 2,06,371
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Managers (including Underwriting commission) | 1.51 |
| 2 | Brokerage, selling commission and upload fees1 | 0.06 |
| 3 | Advertising and marketing expenses | 0.10 |
| 4 | Fees payable to the Legal Advisors | 0.02 |
| 5 | Fees payable to the Registrar to the Issue | 0.08 |
| 6 | Fees payable to the to the regulators including Stock Exchanges | 0.13 |
| 7 | Printing and distribution of issue stationery | 0.03 |
| 8 | Others (Bankers to the Issue, auditor's fees etc.) | 0.11 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹38.00 |
| Open | ₹130.00 |
| Low | ₹123.50 |
| High | ₹136.50 |
| Last Trade | ₹136.10 |
Lead Manager Reports
Goyal Salt IPO is a SME IPO of 49,02,000 equity shares of the face value of ₹10 aggregating up to ₹19 Crores. The issue is priced at ₹38 per share. The minimum order quantity is 3000.
The IPO opens on Tue, Sep 26, 2023, and closes on Tue, Oct 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 Tue, Sep 26, 2023 and closes on Tue, Oct 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 Mon, Oct 9, 2023. Check the Goyal Salt IPO allotment status.
The Goyal Salt IPO listing date is on Wed, Oct 11, 2023.
