Goyal Salt IPO GMP (Grey Market Premium)
by 5paisa Research Team
20 Sep 2023
Listing Details
- Listing Exchange NSE SME
- Listing Date 11-Oct-23
- IPO Price Range ₹ 36 to ₹ 38
- Listing Price ₹ 130
- Listing Change 242.1%
- Last Traded Price ₹ 211.4
- Current Change 456.3%
Goyal Salt IPO Details
- Open Date 26-Sep-23
- Close Date 03-Oct-23
- Lot Size 3000
- IPO Size ₹ 18.63 Cr
- IPO Price Range ₹ 36 to ₹ 38
- Min Investment ₹ 108000
- Listing Exchange NSE SME
- Basis of Allotment 05-Oct-23
- Refunds 06-Oct-23
- Credit to Demat Account 09-Oct-23
- Listing Date 10-Oct-23
Goyal Salt IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 26-Sep-23 | 0.01 | 6.80 | 14.25 | 8.71 |
| 27-Sep-23 | 0.08 | 26.75 | 53.95 | 33.22 |
| 28-Sep-23 | 4.24 | 43.57 | 101.31 | 62.00 |
| 29-Sep-23 | 9.62 | 85.80 | 184.47 | 114.87 |
| 03-Oct-23 | 67.20 | 382.45 | 377.97 | 294.61 |
Goyal Salt IPO Synopsis
Goyal Salt Limited IPO is all set to open from 26th September to 29th September 2023. The company refines raw salts procured from sub-soil brine in Rajasthan. The IPO includes a fresh issue of 4,902,000 shares worth ₹18.63 cr. The share allotment date is 5th October, and the IPO will be listed on 10th October, on the stock exchanges. The price band is ₹36 to ₹38 per share and the lot size is 3000 shares.
Holani Consultants Private Limited is the book-running lead manager for this IPO, while Bigshare Services Private Limited is the registrar.
Objectives of Goyal Salt IPO:
Goyal Salt plans to utilize the raised capital from the IPO to:
● To fund capital expedite for quality enhancement.
● For expenses related to brand creation and marketing.
● For working capital requirements.
● General corporate purpose.
About Goyal Salt
Established in 2010, Goyal Salt refines raw salts procured from sub-soil brine in Rajasthan to be used as industrial salts and edible salts. The company specializes in refining and offering a high-quality selection of salt products, including triple-refined free-flow iodized salt, industrial salt, double-fortified salt, and triple-refined half-dry salt. Goyal Salt also serves various industries by supplying industrial salt used in soap and detergent manufacturing, textile and dyeing processes, glass, polyester, plastics, rubber, leather production, and chemical industries.
Goyal Salt procures raw materials primarily through open market purchases, which account for approximately 75% of their total raw salt requirement. Additionally, they obtain raw materials from entities controlled by their promoters (contributing around 23% of the total) and from salt land harvesting owned by them (constituting approximately 2% of the total).
The company's refinery occupies a land area of 1.45 hectares and is based in Nawa City, adjacent to Sambhar Lake. Additionally, Goyal Salt holds lease rights from the Government of Rajasthan to harvest raw salt on 18.66 hectares of salt-producing land in Nawa City, Rajasthan.
Peer Comparison
● Saboo Sodium Chloro Limited
For More Information:
Webstory on Goyal Salt IPO
Goyal Salt IPO GMP
Goyal Salt Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue | 117.64 | 66.11 | 60.05 |
| EBITDA | 6.80 | 2.98 | 2.90 |
| PAT | 3.54 | 0.63 | 0.68 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 30.00 | 27.33 | 27.46 |
| Share Capital | 10.83 | 1.995 | 1.995 |
| Total Borrowings | 13.83 | 15.64 | 16.24 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 3.30 | 4.66 | -4.34 |
| Net cash from / (used in) investing activities | -1.81 | -1.33 | -1.09 |
| Net cash flow from / (used in) financing activities | -1.44 | -3.38 | 5.24 |
| Net increase (decrease) in cash and cash equivalents | 0.0488 | -0.0486 | -0.19 |
Goyal Salt IPO Key Points
-
Strengths
1. The company possesses an established refining facility and integrated production with cost efficiencies.
2. Strong and consistent financial performance.
3. It focuses on quality and safety.
4. It has strong partnerships with customers.
5. It has an experienced management team and employee base.
6. Cordial relationship between management and labor.
-
Risks
1. The refining unit is located in Rajasthan and is exposed to various regulatory and other geographical risks such as weather and natural occurrence as well as regulatory or economic risk.
2. Any increase in process loss can have severe effects on the business.
3. Significant working capital requirements.
4. Negative cash flows in the past.
5. Competition from big players in the industry.
Goyal Salt
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Goyal Salt IPO FAQs
What is the minimum lot size and investment required for the Goyal Salt IPO?
The minimum lot size of Goyal Salt IPO is 3000 shares and the investment required is ₹1,08,000.
What is the price band of Goyal Salt IPO?
The price for Goyal Salt IPO is ₹36 to ₹38 per share.
When does the Goyal Salt IPO opens and closes?
Goyal Salt IPO opens from 26th September to 29th September 2023.
What is the size of the Goyal Salt IPO?
The size of Goyal Salt IPO is ₹18.63 cr.
What is the allotment date of the Goyal Salt IPO?
The share allotment date of Goyal Salt IPO is 5th October 2023.
What is the Goyal Salt IPO listing date?
The Goyal Salt IPO will be listed on 10th October 2023.
Who are the book runners for the Goyal Salt IPO?
Holani Consultants Private Limited is the book-running lead manager for Goyal Salt IPO.
What is the objective of the Goyal Salt IPO?
Goyal Salt plans to utilize the raised capital from the IPO to:
1. To fund capital expedite for quality enhancement.
2. For expenses related to brand creation and marketing.
3. For working capital requirements.
4. General corporate purpose.
How to apply for the Goyal Salt IPO?
To apply for Goyal Salt IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Goyal Salt IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
● You will receive a mandate notification to block funds in your UPI app.
Contact Details of Goyal Salt IPO
Contact Information
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/
Goyal Salt IPO Register
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Goyal Salt IPO Lead Manager
Holani Consultants Private Limited
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