Goyal Salts Limited (GSL), a Rajasthan based salt producing and refining company, has announced its plans to go public with an Initial Public Offering (IPO) on September 26th, 2023. The company is aiming to raise ₹ 18.63 crore through this IPO, with shares set to be listed on the NSE EMERGE platform. The fresh issue size is 49,02,000 equity shares of Face Value ₹ 10 each, The Bid opens for Anchor Investors on September 25th, 2023. The net proceeds from the IPO will be utilized to fund Capital Expenditure for quality enhancement, Brand creation and marketing expenses, Gunding working capital requirement and general corporate purpose. The issue closes on September 29th, 2023.
- Issue Opens on: Tuesday, September 26, 2023
- Issue Closes on: Thursday, September 29, 2023
- Face Value: ₹ 10 per equity share
- Price Band: ₹ 36 – ₹ 38 per Equity Share
- Market Lot Size: 3000 Equity Shares and in multiples
Incorporated in 2010 as Goyal Salt Limited specializes in processing salt extracted from the sub-soil brine of Rajasthan using an integrated method. The Company’s refinery is strategically located in Nawa City, close to the famous Sambhar Lake. GSL also possess government-approved lease rights for raw salt extraction in Rajasthan and have a dedicated complex for refining, storing, and packaging their products.
GSL produces premium industrial and edible salts which Includes Triple Refined Free Flow Iodized Salt, Industrial Salt, Double Fortified Salt, and And Triple Refined Half Dry Salt. The current capacity is 700 tonnes per day. For FY23, the Company reported net sales of ₹117.64 crore and net profit of ₹3.54 crore.