Bikaji Foods International IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 16, 2022Bikaji is a familiar name and a synonym for Bhujia for many. The company has always been appreciated for its original taste and the essence of wholesome spices it has.
Originating in Jaipur, the brand Bikaji has reached the taste buds of international customers and has won their hearts.
The company is now planning to go public with its IPO. The Bikaji Foods International IPO will be entirely an Offer for Sale by the promoter group entities and existing shareholders of the company.
Bikaji Foods International IPO Review will cover all the facets and facts of the IPO and the company in general.
| Face Value | Rs 1 |
| Price Band | Rs. 285 to Rs. 300 per share |
| Listing At | BSE, NSE |
| Min. Order Quantity | 50 shares |
| Listing Date | Nov 16, 2022 |
| Offer for Sale | Rs. 881.22 Crore |
| Fresh Issue | – |
| IPO Size | Rs. 881.22 Crore |
| Tick Size | 1 |
Bikaji Foods International IPO Overview
Bikaji Foods International IPO is an Offer for Sale of about 2,93,73,984 Equity Shares by the company’s shareholders. The company is not offering any Fresh Issue of Equity Shares.
Bikaji is firming up to raise about Rs.1000 crore through the upcoming IPO, and since the IPO is an OFS, the selling shareholders will be entitled to the proceeds from the IPO.
The IPO will also consist of a reservation for the eligible employees.
Bikaji Foods International IPO Important Dates
| Events | Date |
| IPO Opening Date | Nov 3, 2022 |
| IPO Closing Date | Nov 7, 2022 |
| Basis of Allotment Finalization | Nov 11, 2022 |
| Refunds Initiation | Nov 14, 2022 |
| Credit of Shares to Demat Account | Nov 15, 2022 |
| Share Listing Date | Nov 16, 2022 |
Bikaji Foods International Limited is gearing up to raise funds from the public and list its shares on the stock exchanges.
In pursuance of the IPO, the company has filed the Draft Red Herring Prospectus (DRHP) with the capital market regulator, SEBI. Bikaji is required to obtain SEBI approval before proceeding with floating its IPO in the market.
The company filed the papers in February 2022 and is waiting for the SEBI nod. The company has not determined the Bikaji Foods International IPO Dates up to now.
Bikaji Foods International IPO Price, Size, Share Offerings
| Face Value | Rs.1 |
| Price Band | Rs. 285 to Rs. 300 per share |
| Offer for Sale | Rs. 881.22 Crore |
| Fresh Issue | – |
| IPO Size | Rs. 881.22 Crore |
Bikaji Foods International IPO Size is about 2,93,73,984 Equity Shares to be offered by the Offer for Sale route.
The Bikaji Foods International IPO Price is unknown and will be determined by the issuer company and the selling shareholders by way of the Book Building Process. The face value of the offered is Rs. 1 each.
The Equity Shares offered through this IPO are proposed to be listed on NSE and BSE.
Bikaji Foods International IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 15 Nov 2022 | Rs. 25 | Rs. 300 | Rs. 900 |
| 14 Nov 2022 | Rs. 25 | Rs. 300 | Rs. 900 |
| 12 Nov 2022 | Rs. 35 | Rs. 300 | Rs. 900 |
| 11 Nov 2022 | Rs. 35 | Rs. 300 | Rs. 900 |
| 10 Nov 2022 | Rs. 35 | Rs. 300 | Rs. 900 |
| 09 Nov 2022 | Rs. 35 | Rs. 300 | Rs. 900 |
| 08 Nov 2022 | Rs. 15 | Rs. 300 | Rs. 900 |
| 07 Nov 2022 | Rs. 15 | Rs. 300 | Rs. 900 |
| 06 Nov 2022 | Rs. 25 | Rs. 300 | Rs. 900 |
| 05 Nov 2022 | Rs. 25 | Rs. 300 | Rs. 900 |
Stay updated about the Bikaji Foods International IPO GMP with us. The company has determined the IPO opening and closing date now.
Once the dates are revealed, the Grey Market Premium will be updated, and you will be able to track everyday GMP with a single click. GMP largely drives the price of the IPO. Grey Market Premium changes every day with the trading in the shares.
Bikaji Foods International IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 3rd Nov | 0.01x | 0.58x | 1.10x | 0.52x | 0.67x |
| 2nd Day – 4th Nov | 0.03x | 1.42x | 2.33x | 1.41x | 1.48x |
| 3rd Day – 7th Nov | 80.63x | 7.10x | 4.77x | 4.38x | 26.67x |
| Shares Offered or Net Issue | 5,824,797 | 4,368,598 | 10,193,395 | 250,000 | 20,636,790 |
The subscription process amounts to the step where investors bid to receive an allotment for the equity shares of the issuer company.
There are generally two situations of subscription – over subscription and under subscription. In a situation an IPO is undersubscribed, investors receive shares as per their demand, wherein an oversubscription company allots the shares on a pro-rata basis or other means as allowed under the act.
The Bikaji Foods International IPO Subscription is open now after the DRHP of the company is approved, and its dates for the IPO are finalized.
Bikaji Foods International IPO Allotment Status
Bikaji Foods International IPO Allotment will be executed after the company receives applications from the investors through the subscription. The company has not decided on the basis of allotment.
Bikaji Foods International IPO Live Performance
To check Bikaji Foods International IPO Performance, click here. Bikaji Foods International IPO Price will be updated here, and you can check it anytime.
Subscribe to Bikaji Foods International IPO – Open Free Demat Account Now!
Bikaji Foods International – Company Review
The astonishing journey of Bikaji commenced decades ago. In the late 80s, the cornerstone of the establishment was set.
In 1995, the organization took the shape of a formal public limited company, “Shivdeep Industries Limited,” from the erstwhile partnership firm, “Shivdeep Food Products.”
Subsequently, in 2011, the company’s name was changed from “Shivdeep Industries Limited” to what we know today, “Bikaji Foods International Limited.”
During its operations, Bikaji has placed itself in a distinct position for its products, creativity, and the connection it maintains with the flavors.
Products or Services
Bikaji Foods International Limited offers a bunch of delicious delicacies of snacks. They also offer combo packs that combine different items, including sweets, snacks, namkeen, etc.
Bikaji is the largest producer of Bikaneri bhujia and produces about 26,690 tonnes of it every year. It is also the second-largest producer of handmade papad.
Some of the products of this well-established brand are Bhujia, Combo packs, Namkeen, Snacks (extruded snacks, tea time snacks, chips, café snacks, and funkeen snacks), papad, sweets, and oven-fresh.
These are just the categories; Bikaji produces various mouth-watering snacking items in these categories.
Promoters and Holding
The promoters of Bikaji Foods International Limited are:
- Shiv Ratan Agarwal
- Deepak Agarwal
- Shiv Ratan Agarwal (Huf)
- Deepak Agarwal (Huf)
The management of the company comprises:
- Shiv Ratan Agarwal, in the position of Chairman and Whole-time Director
- Deepak Agarwal, in the position of Managing Director
- Shweta Agarwal, in the position of Whole-time Director
- Sachin Kumar Bhartiya, in the position of Non-Executive Director
- Anshuman Goenka, in the position of Non-Executive Director
- Siraj Azmat Chaudhry, in the position of Independent Director
- Richa Manoj Goyal, in the position of Independent Director
- Pulkit Anilkumar Bachhawat, in the position of Independent Director
- Nikhil Kishorchandra Vora, in the position of Independent Director
- Vipul Prakash, in the position of Independent Director
- Rishabh Jain, in the position of Chief Financial Officer
- Manoj Verma, in the position of Chief Operating Officer
- Shambhu Dayal Gupta, in the position of General Manager – Corporate Affairs and Finance
- Divya Navani, in the position of Company Secretary and Compliance Officer
Is Bikaji Foods International good for Investment?
The company’s idea started with Bhujia and has today erupted into a variety of snacks and sweets. To promote and accelerate the western snack segment, it has also set up Bikaji Café and Bikaji Funkeen brands.
It is accelerating its operations with the launch of an online retail platform. Bikaji Foods International has come a long way, and its journey has made a special place in millions of hearts.
Along with unique products and creative packaging, Bikaji offers special combo packs for various celebrations and occasions. It combines its products and creates a distinct bundle of joy.
One can buy these Combo packs as gifts for their close ones to buy them for themselves and indulge in great flavors.
Bikaji Foods International Financial Statements
| Amount (in INR & Million) | ||||
| 30-Sept-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Assets | 10,662.44 | 8,171.48 | 6,766.43 | 6,308.96 |
| Revenue | 7,771.31 | 13,222.12 | 10,829.01 | 9,106.46 |
| Expense | 7,213.53 | 12,020.99 | 10,192.60 | 8,347.90 |
| Profit After Tax | 409.30 | 903.36 | 563.71 | 509.29 |
Bikaji is one of the top competitors in the snack industry. It has enormous manufacturing capacity and a unique delivery channel to disperse its produce.
The company recorded a total income of Rs. 7,771.31 million for the half-year of the financial year 2021-22, and the period’s profit was Rs. 557.78 million.
The company has maintained an impressive profitable record over the past years. Its total income for the years 2019, 2020, and 2021 were – 9,106.46 million, 10,829.01 million, and 10,829.01 million.
With its continuous hard work and creativity, Bikaji secured an upward growth in its income.
| Earnings per Equity Share (in Million) | ||||
| 30-Sept-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Diluted | 1.71 | 3.71 | 2.32 | 2.11 |
Bikaji’s EPS as of 31st March 2021 was Rs. 3.71. However, the company does not have a very impressive EPS; it’s going at a good pace in its operating operations.
Bikaji Foods International IPO Review
Bikaji is a name that is loved by all of its customers. Its wide product, package, and price range give it the flexibility to reach every type of buyer.
From a small package for an individual to extensive large packages for full families, Bikaji target every type of buyer. Bikaji Foods International IPO is an offer for sale of 2,93,73,984 Equity Shares.
The Promoters and Investors participating in the IPO are Shiv Ratan Agarwal, Deepak Agarwal, India 2020 Maharaja, Limited, Intensive Softshare Private Limited, IIFL Special Opportunities Fund, IIFL Special Opportunities Fund – Series 2, IIFL Special Opportunities Fund – Series 3, IIFL Special Opportunities Fund – Series 4, IIFL Special Opportunities Fund – Series 5 and Avendus Future Leaders Fund I.
The IPO is being carried out to execute the sale of equity shares and attain the benefits of listing equity shares on stock exchanges.
Bikaji Foods International IPO Details
Here are few more details you need to know before investing in Bikaji Foods International IPO –
Bikaji Foods International IPO Issue Object
The Bikaji Foods International has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges
- Carry out the Offer for Sale of up to 293,73,984 Equity Shares by the Selling Shareholders
Bikaji Foods International IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Well-established brand with pan-India recognition;
- Diversified product portfolio focused on various consumer segments and markets;
- Strategically located, large scale sophisticated manufacturing facilities with stringent quality standards;
- Extensive pan-India and global distribution network, arrangements with reputed retail chains and growing e-commerce and exports channel;
- Extensive distribution network in India;
- Strategic arrangements with retail chains in India and international markets ;
- Growing e-commerce channel;
- Significant multi-product export sales;
- Consistent financial performance; and
- Experienced Promoters and management team
Quantitative factors are:
| Basic EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 3.71 | 14.93 | 24.85 |
| 31-Mar-20 | 2.32 | 10.65 | – |
| Mar-19 | 2. 11 | 10.84 | – |
Bikaji Foods International IPO Lead Managers
Here are the list of Lead managers –
- JM Financial Limited
- Axis Capital Limited
- IIFL Securities Limited
- Intensive Fiscal Services Private Limited
- Kotak Mahindra Capital Company Limited
Bikaji Foods International IPO Registrar to offer
Check out the details of the registrar here –
Link Intime India Private Limited
C-101, 247 Park, L.B.S. Marg,
Vikhroli (West) Mumbai 400 083
Maharashtra, India
Tel: +91 22 4918 6200
E-mail: bikaji.ipo@linkintime.co.in
Investor Grievance E-mail: bikaji.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058
Bikaji Foods International IPO – Other Details
- Statutory Auditor – M Surana & Company and M S K A & Associates
- Legal Counsel to the Company – Khaitan & Co and J. Sagar Associates
- Bankers to the Company – Citi Bank, N.A and HDFC Bank Limited
Bikaji Foods International IPO – Conclusion
The Bikaji Foods International Limited is a versatile entity engaged in the food segment and mainly in snacks and sweets. It is one of the largest Bhujia and handmade papad manufacturers in India.
Through the Bikaji Foods International IPO, some of the company’s investors will be offloading their shareholding. The selling shareholders will receive the proceeds of the IPO.
The company will attain the listing of its shares on the stock exchanges, i.e., BSE and NSE. Bikaji is a profitable company, and its products are known internationally.
The company is stepping up and is indulging in western segments and bringing creations like Funkeen and more. The investment in the IPO can add an interesting element to your portfolio and reap positive results over time.
To Subscribe to Bikaji Foods International IPO – Open Demat Account Now!
Bikaji Foods International IPO Review FAQs
Check out the FAQs on Bikaji Foods International IPO –
What is the Issue Size of Bikaji Foods International IPO?
The Company is making an initial public offer of 29,373,984 equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Bikaji Foods International IPO?
The price band for this particular IPO ranges between Rs. 285 to Rs. 300 per share. As far as the face value of the share is of concern, it is Rs.1 per share.
What is the Bikaji Foods International IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Nov 3, 2022, while the closing date is set at Nov 7, 2022.
What is the Bikaji Foods International IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on Nov 11, 2022, refund initiation is on Nov 14, 2022, credit of shares is on Nov 15, 2022, and share listing date is on Nov 16, 2022.
What is the Bikaji Foods IPO Listing Date?
Shares of this company shall be listed in the exchanges Nov 16, 2022. The date, when the listing would be done, is stagnant on Nov 16, 2022.
Who is the Registrar of Bikaji Foods International IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. LINK INTIME INDIA PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Bikaji Foods IPO?
Here are the promoters of this IPO – SHIV RATAN AGARWAL, DEEPAK AGARWAL, SHIV RATAN AGARWAL (HUF) AND DEEPAK AGARWAL (HUF). You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Bikaji Foods International IPO?
They have obtained the GMP of this IPO and it is Rs. 25. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Bikaji Foods International IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Bikaji Foods International Company?
We have the information of company financials, and according to that, we have the figures from the last few years to provide.PAT for the financial year 2021 in Million is 903.36, 2020 is 563.71, 2019 is 509.29. PAT from Sept 2021 is 409.30.
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