Consumer confidence has continued to improve in November but remained in a pessimistic zone. The current situation index (CSI) which had plunged to historic lows in July after the second wave of Covid infections increased to 62.3 in November from 57.7 in September.
Also, households were more confident for the year ahead, as per a survey by the Reserve Bank of India (RBI).
Higher optimism for income and employment scenario buoyed on consumer sentiments and thereby, the future expectations index (FEI) continued its upward trajectory in the period under consideration.
"The perception for the general economic situation, employment scenario and household income displayed signs of recovery," the survey stated.
The bi-monthly survey studies perceptions and expectations of respondents on the general economic situation, employment scenario, overall price situation and their own income and spending levels and 100 is the dividing line between pessimism and optimism, experts believe.
Meanwhile, with higher expenditure on essential items, households perceived a rise in overall expenditure.
Sentiments on non-essential expenditure, however, continue to be pessimistic and did not reflect improvement over the coming year.
Moreover, in terms of the economic situation, the current perception showed improvement but continued to be in negative terrain. The index stood at -54.2 in November as compared to -57.4 in September.
On price level and income, consumers' perception deteriorated since the previous survey.
While the price level stood at -94.5 in November as against -40.6 in July, income came in at -40.6, down from -47.8 in September.
Gopal Snacks Limited, based in Rajkot, has established the price band for its Initial Public Offering (IPO) at Rs 381 to Rs 401 per Equity Share with a face value of Rs 1 each. The IPO is set to commence on March 6, 2024, and conclude on March 11, 2024. Investors can bid for a minimum of 37 Equity Shares and in multiples of 37 Equity Shares thereafter, with the issue being an offer for sale amounting to Rs 650 crore.
The fast-moving consumer goods company, known for its ‘Gopal’ brand, specializes in a diverse range of savory products, including ethnic and western snacks, papad, spices, gram flour, noodles, rusk, and soan papdi. With a product portfolio comprising 84 products and 276 Stock Keeping Units (SKUs), Gopal Snacks has expanded its presence across India, reaching over 523 locations in ten States and two Union Territories.
As of September 30, 2023, the company's distribution network consists of three depots and 617 distributors, supported by a dedicated sales and marketing team of 741 employees. Gopal Snacks operates six manufacturing facilities in India, strategically located in Rajkot, Modasa, and Nagpur, focusing on producing a variety of products, including besan, raw snack pellets, seasoning, and spices.
The IPO, conducted through the Book Building Process, allocates not more than 50 percent to Qualified Institutional Buyers, not less than 15 percent to Non-Institutional Investors, and not less than 35 percent to Retail Individual Investors. Book Running Lead Managers for the Offer are Intensive Fiscal Services Private Limited, Axis Capital Limited, and JM Financial Limited, with Link Intime India Private Limited serving as the Registrar. The Equity Shares are proposed to be listed on BSE and NSE.
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