efsg9208 bikaji

The subscription window closes on November 7th.

New Delhi:

Bikaji Foods International’s Rs 8.81 crore IPO was cheered by investors as the was subscribed at 26.67 times.

The snack company’s stock price is between Rs 285 and Rs 300.

The initial offer included more than 29 million shares of par value Re 1 . This is an offer for sale by promoters and existing shareholders. The company will not receive any proceeds from the offer.

The subscription window closes on November 7th.

According to data provided by the NSE, the share sale offer received 55,04,01,200 offers compared to 2,06,36,790 offered shares.

The portion reserved for retail investors has been subscribed 4.77 times. Retailer investors bid 4,86,40,050 shares compared to bids of 1,01,93,395 shares.

Qualified institutional investors subscribed for 46,96,63,900 shares and 58,24,797 shares. That said, this segment was 80.63 times subscribed, reflecting greater interest from financial institutions, banks, and mutual funds.

The portion reserved for non-institutional investors was subscribed 7.10 times, with 3,10,03,150 shares tendered into 43,68,598 shares.

Bikaji Foods has reserved 2,50,000 shares for employees. Eligible employees can enjoy a discount of Rs 15 per share. The subscription rate for the employee segment was 4.38%.

“We are India’s third ethnic snack company with an international presence, selling Indian snacks and confectionery, and the second fastest growing company in India’s organised snack market,” said Bikaji Foods in the Red Herring prospectus.

Its product range includes bhujia, namkeen, packaged sweets, papad, western snacks and other snacks, mainly including gift packs (assorted), frozen food, matri range and cookies.

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In the three months ended June 30, 2022, the company sold more than 300 products under the Bikaji brand. It posted a profit of Rs 760 crore on revenue of Rs 161 crore in 2021-22.

(Apart from the title, this story was unedited by NDTV staff and was posted from a syndicated feed.)

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