India's Gopal Snacks tumbles in debut trade

Gopal Snacks

14/03/2024 05:49

** Shares of Gopal Snacks  GOPA.NS  down nearly 6% at 377
rupees in trading debut vs IPO price of 401 rupees
    ** GOPA opened at 351 rupees and has stayed below IPO price
since; at current price, GOPA valued at 46.98 bln rupees 
(nearly $567 mln)
    ** Listing performance falls short of expectations, raises
concerns about co's growth prospects in competitive snacks
market - Shivani Nyati, Head of Wealth at Swastika Investmart
    ** Co offers savoury products including ethnic and Western
snacks as well as noodles 
    ** IPO had offer for sale of shares worth 6.5 bln rupees


($1 = 82.8700 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))