It seems like upcoming few days are going to be busy for dalal street as four IPOs are looking to cumulatively mop up Rs 4,120 crore from the market - making it the busiest week for IPOs this year in terms of number of deals launched.
FMCG firm, Bikaji Foods International's three-day initial public offering will open for public subscription this week on November 3, 2022 and conclude on November 7, 2022. The company has fixed a price band of ₹ ₹285 to ₹300 per share for its initial share sale.
As per market observers, Bikaji Foods shares are commanding a premium (GMP) of ₹76 in the grey market. The shares of the company are expected to list on leading stock exchanges BSE and NSE on November 16, 2022.
Certain shareholders of the Rajasthan-based company as well as its promoters -- Shiv Ratan Agarwal and Deepak Agarwal-- will offload around 2.94 crore shares through the OFS route.
Bikaji is one of India’s largest fast-moving consumer goods brands with an international footprint, selling Indian snacks and sweets, and are among the fastest growing companies in the Indian organised snacks market.
About the company:
Founder of Bikaji Foods International Shiv Ratan Agarwal is the grandson of Haldiram's founder Gangabishan Agarwal. Shiv Ratan Agarwal founded the company in 1986. It was originally incorporated as Shivdeep Industries Ltd. In 1993, the company's name was changed to Bikaji Foods.
Bikaji is one of India’s largest fast-moving consumer goods brands with an international footprint, selling Indian snacks and sweets, and are among the fastest growing companies in the Indian organised snacks market.
Its product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks and other snacks which primarily includes gift packs (assortment), frozen food, mathri range and cookies.