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All that you should know about the Company before applying for the IPO
The public issue of equity shares of BIKAJI FOODS INTERNATIONAL LIMITED will open for subscription on November 03, 2022 and closes on November 07, 2022. It is expected to list on the stock exchanges on November 16, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Bikaji was founded in 1993 by Shiv Ratan Agarwal, grandson of Haldiram’s founder, Gangabishan Agarwal. They are the third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets, and is the second fastest growing company in the Indian organised snacks market. Over the years, they have established market leadership in the ethnic snacks market in their core states of Rajasthan, Assam and Bihar with an extensive reach. They have gradually expanded their footprint across India, with operations across 23 states and four union territories as of June 30, 2022.
The company's product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks, and other snacks, which primarily include gift packs (assortment), frozen food, mathri range and cookies. In the three months that ended June 30, 2022, the company sold more than 300 products under the Bikaji brand.
A total of seven manufacturing facilities are operated by the company, of which four are located in Bikaner (Rajasthan) and one in Guwahati (Assam), one in Tumakuru (Tumkur, Karnataka) for the southern market and one in Muzaffarpur, to cater to the Bihar market.
Shiv Ratan Agarwal, Deepak Agarwal, Shiv Ratan Agarwal, and Deepak Agarwal
Given below are the objectives of the Company –
The Offer is a 100% Offer for Sale issue. The Company will not receive any proceeds from the Offer for Sale and all proceeds from the Offer will go to the Selling Shareholders.
|IPO Size||₹ 881.21 Crore*|
|Offer Mix||100% Offer For Sell|
|Price Band||₹ 285 - ₹ 300|
|Lot Size||50 Shares (& in multiples thereof)|
|Face Value||₹ 1|
|Application Amount||Min. ₹ 14,235 (1 lot) | Max. ₹ 1,99,290 (14 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||Link Intime India Private Limited|
|Discount||₹ 15 per equity share for Eligible Employees Category only|
|Cut-off time for UPI Mandate Confirmation||07-November-2022 (up to 05:00 PM)|
₹ 436.86 Crore
(50% of Net Issue Size)
₹ 131.06 Crore
(15% of Net Issue Size)
₹ 305.80 Crore
(35% of Net Issue Size)
|Employee Reservation Portion||
₹ 7.50 Crore
(2,50,000 Equity Shares)
|IPO Opens||November 03, 2022|
|IPO Closes||November 07, 2022|
|Finalization of the basis of allotment||November 11, 2022|
|Unblocking of funds / Initiation of refunds||November 14, 2022|
|Credit of equity shares to Demat accounts||November 15, 2022|
|Listing of equity shares||November 16, 2022|
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