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FMCG Company Bikaji Foods International will open for pubic subscription today with a price band of ₹285-300 a share. The offer will close on November 07 (Monday) and the lot size is 50 shares.
The IPO is entirely an offer-for-sale to the tune of ₹881.22 crore by promoters and investors. Selling shareholders include Shiv Ratan Agarwal (up to 25 lakh shares), Deepak Agarwal (25 lakh shares) India 2020 Maharaja (up to 1.21 crore), Intensive Softshare (up to 50,000 shares) and IIFL Special Opportunities Fund (up to 31.10 lakh shares).
Bikaji Foods International on Wednesday mobilised ₹262.11 crore by deciding to allot 87.37 lakh shares at ₹300 a share to 36 anchor investors.
Among the investors included Government of Singapore, ICICI Prudential, HDFC Mutual Fund, Nippon Life India, Aditya Birla Sun Life, Whiteoak Capital, Blackrock Global Funds, Goldman Sachs, Morgan Stanley, Eastspring Investments, Neuberger Berman Emerging Markets Equity Master Fund, Max Life Insurance, Tata Mutual Fund, Carmignac Portfolio, Kotak Mutual Fund, Bay Capital and Edelweiss.
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Stocks to watch: HDFC, Hero MotoCorp, Adani group stocks, Bank of India, Indian Bank, JK Cement, Wipro, L&T Tech, Lupin, CL Educate, Shri Keshav Cements, Reliance Capital, Amara Raja, Vodafone IdeaBikaji Foods is the third-largest ethnic snacks company in the country. It also has an international footprint, selling Indian snacks and sweets, and is the second fastest growing company in the organised snacks market.
The company has operations across 23 States and four Union Territories and is also exporting products to other countries with a total manufacturing capacity of 400 TPD, producing 300 products such as Bhujia, Namkeen, papad, Western snacks and cookies among others.
JM Financial Limited, Axis Capital Limited, IIFL Securities Ltd, Intensive Fiscal Services Private Limited and Kotak Mahindra Capital Company Limited are the lead managers of the IPO. Link Intime India is the registrar to the IPO.
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