Bikaji Foods IPO Subscribed 26.67 Times; Know GMP, Share Allotment, Listing Details

Snacks and sweets maker Bikaji Foods International Ltd’s initial public offering (IPO) opened for subscription on November 3. The IPO witnessed full subscription on the second day. The initial public offering of Bikaji Foods International was subscribed to 26.67 times on Monday, the last day of subscription. The Rs 881-crore IPO received bids for 55,04,00,900 shares against 2,06,36,790 shares on offer, as per data available with the NSE.

Bikaji Foods IPO GMP

Today, the shares of Bikaji Foods International Ltd are available at Rs 38 in the grey market.

The finalization of the basis of share allotment of Bikaji Foods IPO is expected to take place this week on Friday, November 11, 2022, and if allotted, then the credit of shares to the Demat account of bidders will be done next week on Tuesday, November 15, 2022. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on the registrar’s website here or on the BSE website here.

Bikaji Foods IPO: Issue Price

Under the IPO, investors will be able to buy shares of Bikaji Foods in a price band of Rs 285 to Rs 300 per piece.

Bikaji Foods IPO: Lot Price

Bikaji Foods shares are available in a lot of 50. This means that it will cost between Rs 14,250 and Rs 15,000 for investors to buy one lot.

Bikaji Foods has aimed at mobilizing Rs 881.22 crore through the IPO. Its IPO opened for the subscription until November 3 and the bidding will continue till November 7. The allotment is scheduled for November 11 while the refund initiation will take place on November 14. The listing will most likely happen on November 16.

About Bikaji Foods

Bikaji Foods is the third-largest ethnic snack-making company in India which has a presence in the international markets as well. Bikaji Foods is also the second fastest-growing company in the organised snacks market. It operates in a total of 23 states and four Union Territories while also exports products to other countries.

For Bikaji Foods, most of its business contribution comes from bhujia and namkeen. The two segments accounted for roughly 70 per cent of the revenue. These are followed by packaged sweets that have a contribution of 13 per cent in the total sales.

The namkeen and sweets makers witnessed a compound annual growth rate of 22.44 per cent in revenue from operations during FY20-FY22.