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All that you should know about the Company before applying for the IPO

November 01, 2022     

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.

Company Profile

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.

Who are the Promoters of the Company?

Shiv Ratan Agarwal, Deepak Agarwal, Shiv Ratan Agarwal, and Deepak Agarwal

Positives about the Company

  • 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.
  • Significant multi-product export sales
  • Consistent financial performance
  • Experienced Promoters and management team

Who are its listed peers?

  • Prataap Snacks Limited
  • DFM Foods Limited
  • Nestle India Limited
  • Britannia Industries Limited

Why is the Company going public?

Given below are the objectives of the Company –

  • To achieve the benefits of listing the Equity Shares on the Stock Exchanges

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 Details

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)
* at upper price band

Category Wise Availability*

QIB ₹ 436.86 Crore
(50% of Net Issue Size)
NIB ₹ 131.06 Crore
(15% of Net Issue Size)
Retail ₹ 305.80 Crore
(35% of Net Issue Size)
Employee Reservation Portion ₹ 7.50 Crore
(2,50,000 Equity Shares)
* at upper price band

Indicative Issue Timeline

Activity Date
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
Source: Company RHP  Alternate Text


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