Goyal Salt IPO Date, Price, Subscription, Allotment, Listing Details

Goyal Salt Limited, Incorporated in 2010, operates in the business of refining raw salts sourced from sub-soil brine in the state of Rajasthan. These salts are refined and supplied for various applications, including industrial and edible purposes.

Goyal Salt Limited offers a range of high-quality products, including triple-refined free-flow iodized salt, industrial salt, double-fortified salt, and triple-refined half-dry salt. The company’s product portfolio comprises Refined Free-Flow Iodized Salt, Refined Free-Flow Industrial Salt, Double Fortified Salt, and Refined Half-Dry Salt. The procurement of raw materials is primarily sourced from open market purchases, accounting for approximately 75% of the total raw salt requirement. Additionally, the company obtains raw salt from entities controlled by its promoters (about 23%) and salt land harvesting (around 2%).

The company specializes in the production and supply of industrial salt used in various industries, including soap and detergent manufacturing, textile and dyeing, glass, polyester, plastics, rubber, leather, and chemicals.

Situated in Nawa City, near Sambhar Lake, the company’s refinery occupies an area of 1.45 hectares. Furthermore, Goyal Salt Limited holds lease rights for harvesting raw salt over 18.66 hectares of land, granted by the Government of Rajasthan in the proximity of the salt-producing region in Nawa City, Rajasthan.

In fiscal year 2022-23, Goyal Salt recorded a revenue of Rs. 6,005.30 lakhs.

Goyal salt ipo logo

Goyal Salt Limited

Share Price
₹36-38 /share
Lot Size

Bidding Starts

26 Sep, 23

Bidding Ends

29 Sep, 23

Allotment Date*

06 Oct, 23

Listing Date

10 Oct, 23

* Refund is a 7-10 days process. If you don’t get refund then please contact your bank.

Allotment Status Check

Objects of the Issue (Goyal Salt IPO Objectives)

The net proceeds from the issue are earmarked for the following purposes:

  1. Quality Enhancement Capital Expenditure: Investing in capital expenditures aimed at enhancing product quality.
  2. Brand Creation and Marketing Expenses: Allocating funds towards the creation of the brand and related marketing activities.
  3. Funding Working Capital Requirements: Providing working capital to meet the operational needs of the company.
  4. General Corporate Purposes: Utilizing funds for various general corporate purposes.

Goyal Salt IPO Details

The Goyal Salt IPO is a book-built offering worth Rs 18.63 crores. It consists entirely of a fresh issue of 49.02 lakh shares.

IPO DateSeptember 26, 2023 to September 29, 2023
Listing DateOctober 10, 2023
Face Value₹10 per share
Price Band₹36 to ₹38 per share
Lot Size3000 Shares
Total Issue Size4,902,000 shares
(aggregating up to ₹18.63 Cr)
Fresh Issue4,902,000 shares
(aggregating up to ₹18.63 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Share holding pre issue12,998,250
Share holding post issue17,900,250
Market Maker portion246,000 shares
DRHP Draft Prospectus:Click Here
RHP Draft Prospectus:Click Here
Goyal Salt IPO Detail

Goyal Salt IPO Reservation

QIB Shares OfferedNot more than 50.00% of the Net offer
NII (HNI) Shares OfferedNot less than 15.00% of the Offer
Retail Shares OfferedNot less than 35.00% of the Offer
Goyal Salt IPO Reservation

Goyal Salt IPO Lot Size

Investors have the option to bid for a minimum of 3000 shares and in multiples thereof. The table below illustrates the minimum and maximum investment limits for both retail investors and high-net-worth individuals (HNI) in terms of shares and amounts.

Retail (Min)13000₹114,000
Retail (Max)13000₹114,000
HNI (Min)26,000₹228,000
Goyal Salt IPO Lot Size

Goyal Salt IPO Dates

Goyal Salt IPO opens on September 26, 2023, and closes on September 29, 2023.

IPO Open DateTuesday, September 26, 2023
IPO Close DateFriday, September 29, 2023
Basis of AllotmentThursday, October 5, 2023
Initiation of RefundsFriday, October 6, 2023
Credit of Shares to DematMonday, October 9, 2023
Listing DateTuesday, October 10, 2023
Cut-off time for UPI mandate confirmation5 PM on September 29, 2023
Goyal Salt IPO Dates

Goyal Salt Limited Financial Report

Period Ended31 Mar 202131 Mar 202231 Mar 2023
Profit After Tax68.1562.75353.74
Net Worth1,121.571,169.121,618.11
Reserves and Surplus921.99969.54534.92
Total Borrowing1,297.361,059.80920.11
Amount in ₹ Lakhs

Key Performance Indicator of Goyal Salt Ltd

P/E (x)13.97
EPS (Rs)2.72
Key Performance Indicator of Goyal Salt

Goyal Salt IPO Anchor Investors Details

Goyal Salt IPO raises Rs 5.00 crore from anchor investors. Goyal Salt IPO Anchor bid date is September 25, 2023.

Bid DateSeptember 25, 2023
Shares Offered1317000
Anchor Portion Size (In Cr.)5.00
Anchor lock-in period end date for 50% shares (30 Days)November 20, 2023
Anchor lock-in period end date for remaining shares (90 Days)February 14, 2024
Goyal Salt IPO Anchor Investors Details

Goyal Salt IPO Promoter Holding

Mr. Rajesh Goyal, Mr. Pramesh Goyal, Mr. Lokesh Goyal, Ms. Radhika Goyal, Ms. Priyanka Goyal, Ms. Rekha Goyal, Kunj Bihari Goyal HUF, Rajesh Goyal HUF, Parmesh Goyal HUF, and Lokesh Goyal HUF are the company’s promoters.

Share Holding Pre Issue100%
Share Holding Post Issue
Goyal Salt IPO Promoter Holding

Goyal Salt IPO Contact Details

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

Goyal Salt IPO Registrar

Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com

Goyal Salt IPO FAQs

What is Goyal Salt IPO?

Goyal Salt IPO is a SME IPO of 4,902,000 equity shares with a face value of ₹10, aggregating up to ₹18.63 Crores. The IPO price range is ₹36 to ₹38 per share. The minimum order quantity is 3000 Shares. The IPO opens on September 26, 2023, and closes on September 29, 2023.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are proposed to be listed on NSE SME.

How to apply for Goyal Salt IPO through Zerodha?

Zerodha customers can apply for Goyal Salt IPO online using UPI as a payment gateway. To apply, log in to Zerodha Console (back office) and submit an IPO application form. Here are the steps:

1. Visit the Zerodha website and log in to Console.
2. Go to Portfolio and click on the IPOs link.
3. Find the ‘Goyal Salt IPO’ row and click the ‘Bid’ button.
4. Enter your UPI ID, Quantity, and Price.
5. Submit the IPO application form.
6. Visit the UPI App (net banking or BHIM) to approve the mandate.

When does Goyal Salt IPO open and close?

The Goyal Salt IPO opens on September 26, 2023, and closes on September 29, 2023.

What is the lot size of Goyal Salt IPO?

Goyal Salt IPO has a lot size of 3000 Shares, and the minimum amount required for application is ₹114,000.

How can I apply for Goyal Salt IPO?

You can apply for Goyal Salt IPO online using either UPI or ASBA as the payment method. ASBA IPO application is available in the net banking of your bank account, while UPI IPO application is offered by brokers who do not offer banking services. You can find more details on how to apply for an IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank, and SBI Bank.

When will Goyal Salt IPO allotment be finalized?

The Basis of Allotment for Goyal Salt IPO will be finalized on Thursday, October 5, 2023, and the allotted shares will be credited to your demat account by Monday, October 9, 2023. You can check the Goyal Salt IPO allotment status.

When is the Goyal Salt IPO listing date?

The listing date for Goyal Salt IPO has not been announced yet. The tentative date for the Goyal Salt IPO listing is Tuesday, October 10, 2023.

Follow IPO Watch for the upcoming IPO news and their reviews, also keep following us on TwitterFacebook, and Instagram. For IPO latest News, Join our Telegram channel.

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