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Bikaji Foods IPO is a book built issue of Rs 881.22 crores. The issue is entirely an offer for sale of 2.94 crore shares.
Bikaji Foods IPO bidding started from November 3, 2022 and ended on November 7, 2022. The allotment for Bikaji Foods IPO was finalized on Friday, November 11, 2022. The shares got listed on BSE, NSE on November 16, 2022.
Bikaji Foods IPO price band is set at ₹285 to ₹300 per share. The minimum lot size for an application is 50 Shares. The minimum amount of investment required by retail investors is ₹15,000. The minimum lot size investment for sNII is 14 lots (700 shares), amounting to ₹210,000, and for bNII, it is 67 lots (3,350 shares), amounting to ₹1,005,000.
The issue includes a reservation of up to 250,000 shares for employees offered at a discount of Rs 15 to the issue price.
Jm Financial Limited, Axis Capital Limited, Iifl Securities Ltd, Intensive Fiscal Services Private Limited and Kotak Mahindra Capital Company Limited are the book running lead managers of the Bikaji Foods IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Bikaji Foods IPO RHP for detailed information.
| IPO Date | November 3, 2022 to November 7, 2022 |
| Listing Date | November 16, 2022 |
| Face Value | ₹1 per share |
| Price Band | ₹285 to ₹300 per share |
| Lot Size | 50 Shares |
| Total Issue Size | 29,373,984 shares (aggregating up to ₹881.22 Cr) |
| Offer for Sale | 29,373,984 shares of ₹1 (aggregating up to ₹881.22 Cr) |
| Employee Discount | Rs 15 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Bikaji Foods IPO offers 20,636,790 shares. 5,824,797 (28.23%) to QIB, 4,368,598 (21.17%) to NII, 10,193,395 (49.39%) to RII, 250,000 (1.21%) to employees. 203,867 RIIs will receive minimum 50 shares and 2,080 (sNII) and 4,160 (bNII) will receive minimum 700 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 5,824,797 (28.23%) | NA |
| NII (HNI) Shares Offered | 4,368,598 (21.17%) | |
| bNII > ₹10L | 2,912,398 (14.11%) | 4,160 |
| sNII < ₹10L | 1,456,200 (7.06%) | 2,080 |
| Retail Shares Offered | 10,193,395 (49.39%) | 203,867 |
| Employee Shares Offered | 250,000 (1.21%) | NA |
| Total Shares Offered | 20,636,790 (100%) |
Bikaji Foods IPO opens on November 3, 2022, and closes on November 7, 2022.
| IPO Open Date | Thursday, November 3, 2022 |
| IPO Close Date | Monday, November 7, 2022 |
| Basis of Allotment | Friday, November 11, 2022 |
| Initiation of Refunds | Monday, November 14, 2022 |
| Credit of Shares to Demat | Tuesday, November 15, 2022 |
| Listing Date | Wednesday, November 16, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 7, 2022 |
Investors can bid for a minimum of 50 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹15,000 |
| Retail (Max) | 13 | 650 | ₹195,000 |
| S-HNI (Min) | 14 | 700 | ₹210,000 |
| S-HNI (Max) | 66 | 3,300 | ₹990,000 |
| B-HNI (Min) | 67 | 3,350 | ₹1,005,000 |
| Lot Size Calculator | |||
Shiv Ratan Agarwal, Deepak Agarwal, Shiv Ratan Agarwal (HUF) and Deepak Agarwal (HUF) are the company promoters.
| Share Holding Pre Issue | 77.97% |
| Share Holding Post Issue | 75.96% |
Bikaji Foods International Limited is one of India's largest fast-moving consumer goods ("FMCG") brands. The company's product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range and cookies. In the six months that ended June 30, 2022, the company sold more than 300 products under the Bikaji brand.
The company was the largest manufacturer of Bikaneri bhujia with an annual production of 29,380 tonnes, and we were the second largest manufacturer of handmade papad with an annual production capacity of 9,000 tonnes in Fiscal 2022. The company has an international footprint, selling Indian snacks and sweets, and is among the fastest-growing companies in the Indian organised snacks market.
The company has over the years established market leadership in the core states of Rajasthan, Assam and Bihar with an extensive reach. It has gradually expanded its footprint across India, with operations across 23 states and three union territories as of June 30, 2022.
In the six months ended June 30, 2022, The company has exported the products to 21 international countries, including North America, Europe, the Middle East, Africa, and Asia Pacific, representing 3.20% of our sales of food products in such period.
Bikaji Foods International Limited has six operational manufacturing facilities that are operated by us, with four facilities located in Bikaner (Rajasthan), one in Guwahati (Assam), one facility in Tumakuru (Tumkur) (Karnataka) held through the subsidiary Petunt Food Processors Private Limited to cater to the southern markets in India.
Strenghts:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-19 | 630.9 | 910.65 | 50.93 | 469.77 | 72.31 |
| 31-Mar-20 | 676.64 | 1082.9 | 56.37 | 529.16 | 52.3 |
| 31-Mar-21 | 817.15 | 1322.21 | 90.34 | 604.1 | 86.15 |
| 30-Jun-21 | 871.96 | 337.08 | 12.41 | 618.45 | 101.13 |
| 31-Mar-22 | 1102.13 | 1621.45 | 76.03 | 819.26 | 141.23 |
| 30-Jun-22 | 1146.28 | 423.82 | 15.7 | 834.8 | 156.39 |
| Amount in ₹ Crore | |||||
The market capitalization of Bikaji Foods IPO is Rs 7485.3 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 119.05 |
The Selling Shareholders will be entitled to the entire proceeds of the Offer after deducting the Offer expenses and relevant taxes thereon. The Company will not receive any proceeds from the Offer.
[Dilip Davda] BFIL is one of the largest organized namkeen snacks and sweets manufacturing and marketing companies. It has posted declined margins for FY22 on higher sales in line with the general trends of the industry. Sustainability of such margins going forward amidst stiff competition raise concerns. Based on its FY23 annualized earnings, the issue is aggressively priced. Well-informed, cash surplus/risk seekers may consider parking funds in this issue. Read detail review...
The Bikaji Foods IPO is subscribed 26.67 times on November 7, 2022 7:00:00 PM. The public issue subscribed 4.77 times in the retail category, 80.63 times in the QIB category, and 7.10 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 80.63 |
| NII | 7.10 |
| bNII (bids above ₹10L) | 7.47 |
| sNII (bids below ₹10L) | 6.34 |
| Retail | 4.77 |
| Employee | 4.38 |
| Total | 26.67 |
| Listing Date | November 16, 2022 |
| BSE Script Code | 543653 |
| NSE Symbol | BIKAJI |
| ISIN | INE00E101023 |
| Final Issue Price | ₹300 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹300.00 |
| ₹321.15 |
| ₹314.00 |
| ₹335.00 |
| ₹317.45 |
| NSE |
|---|
| ₹300.00 |
| ₹322.80 |
| ₹314.20 |
| ₹334.70 |
| ₹317.45 |
Bikaji Foods International Limited
F 196-199,
F 178 & E 188 Bichhwal Industrial Area,
Bikaner – 334 006
Phone: +91 151 - 2250350
Email: cs@bikaji.com
Website: https://www.bikaji.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: bikaji.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Bikaji Foods IPO is a main-board IPO of 29,373,984 equity shares of the face value of ₹1 aggregating up to ₹881.22 Crores. The issue is priced at ₹285 to ₹300 per share. The minimum order quantity is 50 Shares.
The IPO opens on November 3, 2022, and closes on November 7, 2022.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Bikaji Foods IPO using UPI as a payment gateway. Zerodha customers can apply in Bikaji Foods IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bikaji Foods IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bikaji Foods IPO opens on November 3, 2022 and closes on November 7, 2022.
Bikaji Foods IPO lot size is 50 Shares, and the minimum amount required is ₹15,000.
You can apply in Bikaji Foods IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Bikaji Foods IPO will be done on Friday, November 11, 2022, and the allotted shares will be credited to your demat account by Tuesday, November 15, 2022. Check the Bikaji Foods IPO allotment status.
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The good run should continue for some more time.