Incorporated in 1996, Goel Food Products Limited engages in the business of manufacturing Indian Snacks and Sweets. The company provide services such as organizing events like Marriages, Sangeet, Ring Ceremony, Birthday Parties, Anniversary Parties, Kitty Parties, Corporate Events, Kirtans (Devotional Singing), Thread Ceremony at the banquets hall and serves Indian snack and Sweets at the company retail shop.
The company operate and manage the banquet and Indian snacks and sweets shop business under the name “BIKA” at various locations in Kolkata. Hilltop Healthcare Centre Limited, the company’s holding company, owns 64.60 percent of the company.
Competitive Strengths:
- Strong Value Proposition
- Locational Advantage
- Low Set-up Cost
- Established brand and reputation
- Rich Management Experience
- Progressive Employer
- Quality Service
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-19 | 2903.58 | 1386.7 | 148.38 |
| 31-Mar-20 | 3532.84 | 1606.84 | 63.1 |
| 31-Mar-21 | 2654.34 | 753.85 | -0.76 |
| 31-Dec-21 | 4563.02 | 1200.68 | 187.65 |
| Amount in ₹ Lakhs |
Objects of the Issue
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
1. To Meet Working Capital Requirements.
2. General Corporate Purposes.
Goel Food Products IPO Details
| Goel Food Products IPO Date | Jun 15, 2022 to Jun 20, 2022 |
| Goel Food Products IPO Face Value | ₹10 per share |
| Goel Food Products IPO Price | ₹72 per share |
| Goel Food Products IPO Lot Size | 1600 Shares |
| Issue Size | 1,001,600 shares of ₹10 (aggregating up to ₹7.21 Cr) |
| Fresh Issue | 500,800 shares of ₹10 (aggregating up to ₹3.61 Cr) |
| Offer for Sale | 500,800 shares of ₹10 (aggregating up to ₹3.61 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Retail Shares Offered | 50% of the net offer |
| NII (HNI) Shares Offered | 50% of the net offer |
| Company Promoters | Hilltop Healthcare Centre Limited and Mr Dinesh Goyal are the company promoters. |
Goel Food Products IPO Timeline (Tentative Timetable)
Goel Food Products IPO opens on Jun 15, 2022, and closes on Jun 20, 2022. The Goel Food Products IPO bid date is from Jun 15, 2022 10.00 A.M. to Jun 20, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Goel Food Products IPO Opening Date | Jun 15, 2022 |
| Goel Food Products IPO Closing Date | Jun 20, 2022 |
| Basis of Allotment | Jun 23, 2022 |
| Initiation of Refunds | Jun 24, 2022 |
| Credit of Shares to Demat | Jun 27, 2022 |
| Goel Food Products IPO Listing Date | Jun 28, 2022 |
Goel Food Products IPO Lot Size
The Goel Food Products IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹115,200).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹115,200 |
| Maximum | 1 | 1600 | ₹115,200 |
Goel Food Products IPO Promoter Holding
| Pre Issue Share Holding | 99.98% |
| Post Issue Share Holding | 73.41% |
Goel Food Products IPO Review
The company is in the business of hospitality and sweet/snacks outlets segment which is highly competitive and fragmented. With its super results in a pre-IPO year, the issue is priced fully. Small equity base post IPO indicates longer gestation for migration to the mainboard. The sustainability of super earnings posted for 9M-FY22 are major concerns. Investors may skip this fully priced offer.
Company Contact Information
Goel Food Products Limited
76/1/2,
Golaghata Road,
Kolkata-700048
Phone: +91 89613 33312
Email: info@goelfood.com
Website: https://bika.co.in/
Goel Food Products IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com