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Goyal Salt IPO is a book built issue of Rs 18.63 crores. The issue is entirely a fresh issue of 49.02 lakh shares.
Goyal Salt IPO bidding started from September 26, 2023 and ended on October 3, 2023. The allotment for Goyal Salt IPO was finalized on Thursday, October 5, 2023. The shares got listed on NSE SME on October 11, 2023.
Goyal Salt IPO price band is set at ₹36 to ₹38 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹114,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹228,000.
Holani Consultants Private Limited is the book running lead manager of the Goyal Salt IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Goyal Salt IPO is Holani Consultants.
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 |
| Price Band | ₹36 to ₹38 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 4,902,000 shares (aggregating up to ₹18.63 Cr) |
| Fresh Issue | 4,902,000 shares (aggregating up to ₹18.63 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 12,998,250 |
| Share holding post issue | 17,900,250 |
| Market Maker portion | 246,000 shares Holani Consultants |
Goyal Salt IPO offers 4,812,000 shares. 882,000 (18.33%) to QIB, 729,000 (15.15%) to NII, 1,638,000 (34.04%) to RII 1,317,000 (27.37%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,317,000 (27.37%) |
| Market Maker Shares Offered | 246,000 (5.11%) |
| QIB Shares Offered | 882,000 (18.33%) |
| NII (HNI) Shares Offered | 729,000 (15.15%) |
| Retail Shares Offered | 1,638,000 (34.04%) |
| Total Shares Offered | 4,812,000 (100%) |
Goyal Salt IPO raises Rs 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 | 1,317,000 |
| 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 | Tuesday, September 26, 2023 |
| IPO Close Date | Tuesday, October 3, 2023 |
| Basis of Allotment | Thursday, October 5, 2023 |
| Initiation of Refunds | Friday, October 6, 2023 |
| Credit of Shares to Demat | Monday, October 9, 2023 |
| Listing Date | Wednesday, October 11, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 3, 2023 |
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹114,000 |
| Retail (Max) | 1 | 3000 | ₹114,000 |
| HNI (Min) | 2 | 6,000 | ₹228,000 |
| Lot Size Calculator | |||
Mr. Rajesh Goyal, Mr. Pramesh Goyal, Mr. Lokesh Goyal, Ms. Radhika Goyal, Ms. Priyanka Goyal, Ms. Rekha Goyal, Kunj Bihari Goyal HUF, Rajesh Goyal HUF, Parmesh Goyal HUF, and Lokesh Goyal HUF are the company's promoters.
| Share Holding Pre Issue | 100% |
| 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 |
| Revenue | 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 Rs 68.02 Cr.
| KPI | Values |
|---|---|
| ROE | 25.38% |
| ROCE | 36.22% |
| Debt/Equity | 0.57 |
| RoNW | 21.86% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.72 | |
| P/E (x) | 13.97 | 19.19 |
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...
The Goyal Salt IPO is subscribed 294.61 times on October 3, 2023 7:29:00 PM. The public issue subscribed 377.97 times in the retail category, 67.20 times in the QIB category, and 382.45 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 67.20 |
| NII | 382.45 |
| Retail | 377.97 |
| Total | 294.61 |
Total Application : 206,371 (377.97 times)
| Listing Date | October 11, 2023 |
| BSE Script Code | |
| NSE Symbol | GOYALSALT |
| ISIN | INE0QFE01017 |
| Final Issue Price | ₹38 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹38.00 |
| ₹130.00 |
| ₹123.50 |
| ₹136.50 |
| ₹136.10 |
Goyal Salt Limited
Plot No. 229-230, Guru Jambeshwar Nagar,
Lane No. 7 Gandhi Path, Vaishali Nagar,
Jaipur - 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
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Goyal Salt IPO is a SME IPO of 4,902,000 equity shares of the face value of ₹10 aggregating up to ₹18.63 Crores. The issue is priced at ₹36 to ₹38 per share. The minimum order quantity is 3000 Shares.
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 Shares, and the minimum amount required is ₹114,000.
You can apply in Goyal Salt IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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