Bikaji Foods IPO is aiming for an initial public offer at a valuation of around $1 billion. Bikaji Foods International, India’s largest manufacturer of ethnic savouries and sweets, filed its draft red herring prospectus (DHRP) with market regulators SEBI this week to raise ₹1,000 crores in an initial public offer. The issue is completely an offer for sale (OFS).
Bikaji Foods International has six manufacturing facilities located in Rajasthan, Assam, and Karnataka. The food-making company makes more than 400 tonnes of snacks per day. It covers around 300 products that include bhujia, namkeen, sweets, papad, and frozen foods. Being a known household food industry, the sales volume of Bikaji grew 13.85 percent annually to 74.7 million kilograms between FY16 and FY20, while revenue grew 14.2 percent to ₹1,073 crores in the same period.
Namkeen accounts for 37 percent of sales, followed by 32 percent for Bhujia, 14 percent for sweets, 10 percent for papad, and the balance by other few products. The Indian Ready-To-Eat (RTE) snacks market is expected to grow at a compounded annual growth rate of 8.9% between 2021 and 2025. The growth of RTE snacks is driven by easy availability, longer shelf life, rising urbanization, and increasing disposable incomes.
Private equity companies such as Lighthouse Funds, IIFL, Avendus, and Axis have invested in Bikaji Foods, the Rajasthan-based ready-to-eat product maker. In 2012, Lighthouse acquired 12% of the company and partially cut short its stake to allow IIFL to invest in Bikaji. Avendus and Axis took a 1% stake each in 2019 which helped the company to become debt-free. The company plans to open more facilities at strategic locations in the next few years and launch new brands across different categories.
Bikaji Foods IPO Promoters
- Shiv Ratan Agarwal.
- Deepak Agarwal.
Bikaji Foods IPO Details
| IPO Details | Bikaji Foods |
| Issue Period | Opening Date: xx-xx-2022 Closing Date: xx-xx-2022 |
| Price Band | ₹ – ₹ per equity share |
| Issue Size | ₹1000 Cr |
| Face Value | ₹1 per equity share |
| Issue Type | Book built issue |
| Fresh Issue | N/A |
| Offer for sale | 2,93,73,984 Eq Shares of ₹1 face value (aggregating up to ₹1000 Cr) |
| Listing | NSE and BSE |
| Registrar | Link Intime India Private Limited |
Bikaji Foods IPO Timeline
Bikaji Foods IPO issue date, issue price, allotment date, and the listing date, and all the details will be announced soon.
| IPO Opens | To be announced |
| IPO Ends | To be announced |
| Allotment Begins | To be announced |
| Refund Initiation | To be announced |
| Allotment Date | To be announced |
| Listing Date | To be announced |
Bikaji Foods IPO Lot Size (Retail Individual Investors)
| Applications | Lots | Shares | Amount(Cut-off) |
| Minimum | – | – | – |
| Maximum | – | – | – |
Bikaji Foods IPO Investor Category
Bikaji Foods IPO has 35% of the net offer under the Retail Category.
| QIB (Qualified Institutional Buyers) | 50% of net offer |
| NII (Non-Institutional Investors) | 15% of net offer |
| RII (Retail Individual Investors) | 35% of net offer |
Bikaji Foods IPO GMP
Bikaji Foods IPO has not yet started trading in the grey market. The grey market premium aka GMP will be updated once the ethnic savouries and sweets start trading in the grey market.
Check here for all the GMP details.
Bikaji Foods IPO Review
No reviews are out for Bikaji Foods IPO. A detailed review will be updated once the valuations, price band, and other details are out with mainboard brokerages ratings.
Bikaji Foods IPO Book Running Lead Manager(s)
- JM Financial Limited.
- IIFL Securities and Intensive.
- Axis Capital.
- Intensive Fiscal Services Private Limited.
- Kotak Investment Banking.
Bikaji Foods IPO Registrar
Link Intime India Private Limited is the registrar of the Ready-to-eat product-making company.
Company Contact Details
Bikaner – 334 006,