Gopal Namkeen IPO Basis of Allotment

APursuant to a resolution of our Board passed in their meeting held on December 22, 2022 and a resolution of our Shareholders passed in the extraordinary general meeting held on December 23, 2022, each fully paid - up equity share of our Company of face value 110 was subdivided into 10 Equity Shares of Rs.f each. Further, our Company has, pursuant to authorisation by a resolution of our Board dated January 7, 2023 and a resolution of our Shareholders dated January 9, 2023, issued bonus Equity Shares in the proportion of ten Equity Shares for every one existing fully paid-up Equity Share held by the Shareholders as of the record date, being January 6, 2023. The impact of the subdivision and bonus issue has been considered in the calculation of the weighted average cost of acquisition.

9. The Offer Price, market capitalization to total revenue multiple and price to earnings ratio based on the Offer Price of our Company, may not be indicative of the market price of the Equity Shares on listing. Our revenue from operations and restated profit after tax for Fiscal 2023 was Rs. 13,946.53 million and Rs. 1,123.69 million, respectively. The table below provides details of our price to earnings ratio and market capitalization to revenue from operations for Fiscal 2023:

10-Weighted Average Return on Net Worth for past three Fiscals i.e. 2023,2022 and 2021 is 29.70%.

11 .The average cost of acquisition of Equity Shares held by the Selling Shareholders ranges from Rs.Nil to Rs.158.22 per Equity Share, and the Offer Price at upper end of the Price Band is 7401.

12.The 3 BRLMs associated with the Offer have handled 83 public issues in the past three Fiscals, out of which 24 issues have closed below the offer price on the listing date.

* Issues handled where there were no common BRLMs

The Offer was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules. 1957. as amended ( SCRR') read with Regulation 31 of the SEBIICDR Regulations and in compliance with Regulation 6{1) of the SEBIICDR Regulations, wherein not more than 50% of the Net Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs". the "QIB Portion"). provided that our Company and the Selling Shareholders in consultation with the BRLMs allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary base in accordance with the SEBI ICDR Regulations (the ‘Anchor Investor Portion'). One-third of the Anchor Investor Portion was reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares were added to the QIB Portion (other than Anchor Investor Portion) ("Net QIB Portion^-). Further. 5% of the Net QIB Portion was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to all QlBs. including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds was less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion were added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, (a) not less than 15% of the Net Offer was available for allocation to Non-lnstitutionai Investors (out of which one third was reserved for Bidders with Bids exceeding 7 0.20 million and up to 7 1.00 million and two-thirds was reserved for Bidders with Bids exceeding Rs. 1.00 million) provided that the unsubscribed portion in either of the categories, allocated to Bidders in the other sub-category of Non-lnstitutional Investors, subject to valid Bids being received at or above the Offer Price and (b) not less than 35% of the Net Offer was available for allocation to Retail Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders, other than Anchor Investors, were mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (^-ASBA‘) process by providing details of their respective ASBA Account and UPI ID in case of UPI Bidders, as applicable, pursuant to which the corresponding Bid Amount, which will be blocked by the Self Certified Syndicate Banks ("SCSBs') or the Sponsor Bank(s), as the case may be. to the extent of their respective Bid Amounts. Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, see ‘Offer Procedure" on page 434 of the Prospectus.

The bidding for Anchor Investor opened and closed on March 5,2024. The Company received 19 applications from 15 Anchor Investors for 5,286,856 Equity Shares. The Anchor Investor Offer Price was finalized at 7401 per Equity Share. Atotal of 4,836,657 Equity Shares were allocated under the Anchor Investor Portion aggregating to 71,939,499,457,00.

The Offer received 554,398 banked applications for 113,520,329 Equity Shares (including applications from Anchor Investors and prior to rejections) resulting in 7.00 times subscription. The details of the applications received in the Offer from Retail Individual Bidders. Non-institutional Bidders and QIBs are as under (before rejections):

Final Demand

Asummary of the final demand as per NSE and BSE as on the Bid/Offer Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on March 12.2024.

A. Allotment to Retail Individual Bidders (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the Offer Price of 7401 per Equity, was finalized in consultation with BSE. This category has been subscribed to the extent of 4.08 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 5,648.534 Equity Shares to 152,663 successful applicants The category-wise details of the Basis of Allotment are as under.

B. Allotment to Non-lnstitutional Bidders (more than Rs. 0.20 million and upto Rs. 1.00 million) (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-lnstitutonal Bidders (more than 7 0.20 million and upto 71 million), who have bed at the Offer Price of Rs. 401 per Equity Share or above, was finalized in consultation with BSE. This category has been subscribed to the extent of 8.49 times. The total number of Equity Shares allotted in this category is 806,933 Equity Shares to 1.557 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)

C. Allotment to Non-lnstitutional Bidders (more than Rs.1.00 million) (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-lnslitutional Bidders (more than Rs.1 million), who have bid at the Offer Price of Rs.401 per Equity Share or above, was finalized in consultation with BSE. This category has been subscnbed to the extent of 10.66 times. The total number of Equity Shares allotted in this category is 1,613,868 Equity Shares to 3.115 successful applicants. The category-wise detaisofthe Basis of Allotment are as under. (Sample)

D. Allotment to Eligible Employees (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Eligible Employees, who have bid at the Offer Pnce of Rs.401' per Equity Share or above, was finalized in consultation with BSE This category has been subscnbed to the extent of 0.81 times. The total number of Equity Shares allotted in this category is 78,218 Equity Shares to 465 successful applicants. The category-wise details of the Basis of Allotment are as under (Sample)

'A discount oR38per Equity Share was offered to Eligible Employees Bidding in the Employee Reservation Portion.

The Employee Reservation was for Rs. 35 million as mentioned in the Prospectus representing 96.418 Equity Shares at the price of Rs. 363 per Equity Share net of Employee Discount, The Unsubscribed portion of 18.200 Equity Shares at 1363 per Equity Share, translating to around 16.474 Equity shares at the Issue Price of Rs. 401 per Equity Share has been spilled over to QIB Portion. Non- Institutional Portion and Retail Portion. The balance 1,726 Equity Shares cannot be allocated to any category, since the Offer is aggregating to Rs.6.500 million.

E. Allotment to QIBsfExcluding Anchor Investors) (After Rejections)

Allotment to QIBs (excluding Anchor Investors), who have bid at the Offer Price of Rs. 401 per Equity Share or above, has been done on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 18.32 times of Net QIB portion. As per the SEBI Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e. 161.634 Equity Shares (Includes spilled over of 412 Equity Shares from Employee Category) and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 3,071.042 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 8.069.333 Equity Shares, which were allotted to 29 successful Applicants

F. Allotment to Anchor Investors (After Rejections)

The Company, in consuttation with the BRLMs, have allocated 4,836.657 Equity Shares to 15 Anchor Investors (through 19 Anchor Investor Application Forms) (including 5 domestic Mutual Funds through 9 schemes) at an Anchor Offer Price at Rs.401 per Equity Share in accordance with SEBI ICDR Regulations.

The Board of Directors of our Company at its meeting held on March 12, 2024 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, bemg BSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation and/or notices have been dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on March 12, 2024 and the payments to non-syndicate brokers have been issued on March 13, 2024. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on March 13,2024 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with BSE and NSE on March 13, 2024. The Company has received the listing and trading approval from BSE & NSE, and trading is expected to commence on March 14, 2024.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

CORRIGENDUM NOTICE TO INVESTORS

Thc$ corrigendum (‘Corrigendum') is with reference to Prospectus filed in relation to the Offer. In this regard, please note that the description of the underwriting agreement dated March 11,2024 in the section titled ‘Material Contracts and Documents for Inspection 'on page 489 of the Prospectus, stands amended as foBows:

"Material Contracts to the Offer

6. UndenvntingAgreement dated March 11.2024 entered into among our Company, the Selling Share/ioWers and the Underwriters. '

INVESTORS PLEASE NOTE

These details of the Allotment made was hosted on the website of Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in.

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicant, Serial number of the Bid cum Application form number. Bidders DP ID, Client ID. PAN. date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF GOPAL SNACKS LIMITED.

GOPAL SNACKS LIMITED has filed a Prospectus dated March 11.2024 with the RoC. The Prospectus is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLMs i.e.. Intensive Fiscal Services Private Limited at www.intensivefiscal.com; Axis Capital Limited at www.axiscapital.co.in and JM Financial Limited at www.jmfl.com, the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at www.gopalnamkeen.com. Any potential investor should note that investment m equity shares involves a high degree of risk and for details relating to such risks, please see the section titled 'Risk Factors' beginning on page 36 of the Prospectus. Potential investors should not rely on the DRHP for making any investment decision but can only rely on the information included in the Red Herring Prospectus.

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended ('U.S. Securities Act'), or any state law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to. the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (i) within the United States only to persons reasonably believed to be 'qualified institutional buyers' (as defined in Rule 144A under the U.S. Securities Act) under Section 4(a) of the U.S. Securities Act, and (u) outside the United States in ‘offshore transactions' as defined in and in compliance with Regulation S under the U .S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.