Tasted Bikaji Foods? Now Have A Byte Of Its Success Story

Bikaji Chairman Shiv Ratan Agarwal with MD Deepak Agarwal

Tasted Bikaji Foods? Now Have A Byte Of Its Success Story

Bhujia Giant IPO Opens On Thursday

Bikaji Foods has fixed the price band at ₹285-₹300 per equity share for its maiden public offer that will close on the next Monday

MUMBAI, Oct 31 (The CONNECT) – Amit ji loves Bikaji, says the company’s popular bhujia pack with the Big B's smling photograph. Having tasted the success of its products worldwide, Bikaji Foods International Limited is now all set to hit the capital market with its IPOI on Thursday. The company has fixed the price band at ₹285-₹300 per equity share for its maiden public offer that will close on the next Monday.

Investors can bid for a minimum of 50 shares and in multiples of 50 thereafter in the third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets, and the second fastest growing company in the Indian organised snacks market.

The issue with a face value of Re 1 per equity share is an entirely an offer for sale (OFS) up to 29,373,984 by existing shareholders and promoter group entities.

Shiv Ratan Agarwal launched the Bikaji brand in 1993 and has established market leadership and reach in the ethnic snacks market in Rajasthan, Assam, and Bihar. Bikaji has gradually expanded its footprint across India, with operations in 23 states and four union territories. It also exports its products to 21 international countries, including North America, Europe, the Middle East, Africa, and Asia Pacific.

Bikaji today stands to be the largest producer of Bikaneri bhujia with annual production of 29,380 tonnes, and the second largest manufacturer of handmade papad with an annual production capacity of 9,000 tonnes in Fiscal 2022 as mentioned in the F&S report quoted in its RHP. It is also one of India's major producers of packaged sweets, including rasgulla, gulab jamun, and soan papdi and is known to be a pioneer in developing and reinventing classic Indian snacks with a contemporary taste along with maintaining the regional flavors to address the evolving consumer preferences in India and internationally.

Bikaji’s revenue from operations grew 22.90% to Rs. 1610.96 crore for the fiscal 2022 against Rs. 1310.75 crore for the fiscal 2021.

JM Financial Limited, Axis Capital Limited, IIFL Securities Limited, Intensive Fiscal Services Private Limited and Kotak Mahindra Capital Company Ltd are the book running lead managers to the issue.

Recent News

Advertisement