Bookbuilding IPO | ₹881 Cr | Listed at BSE, NSE | Thu, Nov 3, 2022 - Mon, Nov 7, 2022
Bikaji Foods International IPO is a book build issue of ₹880.86 crores. The issue is entirely an offer for sale of 2.94 crore shares of ₹880.86 crore.
Bikaji Foods International IPO bidding started from Nov 3, 2022 and ended on Nov 7, 2022. The allotment for Bikaji Foods International IPO was finalized on Nov 11, 2022. The shares got listed on BSE, NSE on Nov 16, 2022.
Bikaji Foods International IPO price band is set at ₹300 per share. The lot size for an application is 50. The minimum amount of investment required by an retail is ₹15,000 (50 shares) (based on upper price). The lot size investment for sNII is 14 lots (700 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (3,350 shares), amounting to ₹10,05,000.
The issue includes a reservation of up to 2,50,000 shares for employees offered at a discount of ₹15.00 to the issue price.
JM Financial Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Bikaji Foods International IPO RHP for detailed Information.
IPO Open
Thu, Nov 3, 2022
IPO Close
Mon, Nov 7, 2022
Issue Price
₹300 per share
Market Cap (Pre-IPO)
₹7,485.30 Cr
| IPO Date | 3 to 7 Nov, 2022 |
| Listed on | Wed, Nov 16, 2022 |
| Face Value | ₹1 per share |
| Price Band | ₹285 to ₹300 |
| Issue Price | ₹300 per share |
| Lot Size | 50 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹15.00 |
| Total Issue Size | 2,93,73,984 shares (agg. up to ₹881 Cr) |
| Offer for Sale | 2,93,73,984 shares of ₹1 (agg. up to ₹881 Cr) |
| Share Holding Pre Issue | 24,95,09,880 shares |
| Share Holding Post Issue | 24,95,09,880 shares |
| BSE Script Code / NSE Symbol | 543653 / BIKAJI |
| ISIN | INE00E101023 |
Bikaji Foods International IPO offers total 2,93,73,984 shares. Out of which 1,45,61,991 (49.57%) allocated to QIB, 58,24,797 (19.83%) allocated to QIB (Ex- Anchor), 43,68,598 (14.87%) allocated to NII 1,01,93,395 (34.70%) allocated to RII and 87,37,194 (29.74%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,45,61,991 (49.57%) | NA |
| − Anchor Investor Shares Offered | 87,37,194 (29.74%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 58,24,797 (19.83%) | NA |
| NII (HNI) Shares Offered | 43,68,598 (14.87%) | NA |
| − bNII > ₹10L | 29,12,398 (9.91%) | 4,160 |
| − sNII < ₹10L | 14,56,200 (4.96%) | 2,080 |
| Retail Shares Offered | 1,01,93,395 (34.70%) | 2,03,867 |
| Employee Shares Offered | 2,50,000 (0.85%) | NA |
| Total Shares Offered | 2,93,73,984 (100.00%) |
Investors can bid for a minimum of 50 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 50 | ₹15,000 |
| Retail (Max) | 13 | 650 | ₹1,95,000 |
| S-HNI (Min) | 14 | 700 | ₹2,10,000 |
| S-HNI (Max) | 66 | 3,300 | ₹9,90,000 |
| B-HNI (Min) | 67 | 3,350 | ₹10,05,000 |
Bikaji Foods International IPO raises ₹262.12 crore from anchor investors. Bikaji Foods International IPO Anchor bid date is November 2, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Nov 2, 2022 |
| Shares Offered | 87,37,194 |
| Anchor Portion (₹ Cr.) | 262.12 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Dec 11, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Feb 9, 2023 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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 | 30 Jun 2022 | 31 Mar 2022 | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|---|---|
| Assets | 1,146.28 | 1,102.13 | 871.96 | 817.15 | 676.64 | 630.90 |
| Total Income | 423.82 | 1,621.45 | 337.08 | 1,322.21 | 1,082.90 | 910.65 |
| Profit After Tax | 15.70 | 76.03 | 12.41 | 90.34 | 56.37 | 50.93 |
| NET Worth | 834.80 | 819.26 | 618.45 | 604.10 | 529.17 | 469.77 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Total Borrowing | 156.39 | 141.23 | 101.13 | 86.15 | 52.30 | 72.31 |
| Amount in ₹ Crore | ||||||
| KPI | |
|---|---|
| ROE | 9.5 |
| ROCE | 13.89 |
| Debt/Equity | 0.17 |
| RoNW | 9.51 |
| PAT Margin | 4.72% |
| EBITDA Margin | 27.35% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.15 | |
| P/E (x) | 119.05 | |
| Promoter Holding | 77.97% | 75.96% |
| Market Cap | ₹7,485.30 Cr. |
The Bikaji Foods IPO is subscribed 26.67 times on November 7, 2022 7:00:00 PM (Day 3). The public issue subscribed 4.77 times in the retail category, 80.63 times in the QIB category, and 7.1 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 80.63 | 58,24,797 | 46,96,63,900 |
| NII | 7.1 | 43,68,598 | 3,10,03,150 |
| bNII (bids above ₹10L) | 7.47 | 29,12,398 | 2,17,65,750 |
| sNII (bids below ₹10L) | 6.34 | 14,56,200 | 92,37,400 |
| Retail | 4.77 | 1,01,93,395 | 4,86,40,050 |
| Employee | 4.38 | 2,50,000 | 10,94,100 |
| Total | 26.67 | 2,06,36,790 | 55,04,01,200 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers fees and commissions (including any underwriting commission, brokerage and selling commission) | 25.99 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDPs | 4.22 |
| 3 | Fees payable to Registrar to the Offer | 0.24 |
| 4 | Fees payable to Joint Statutory Auditors, independent chartered accountant, chartered engineer and market research firms | 4.94 |
| 5 | Regulatory filing fees, including SEBI, BSE and NSE fees, book building software fees, listing fees, etc. | 5.71 |
| 6 | Printing and stationery | 1.95 |
| 7 | Fee payable to legal counsels | 6.01 |
| 8 | Advertising and marketing | 6.49 |
| 9 | Miscellaneous | 2.88 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹300.00 | ₹300.00 |
| Open | ₹321.15 | ₹322.80 |
| Low | ₹314.00 | ₹314.20 |
| High | ₹335.00 | ₹334.70 |
| Last Trade | ₹317.45 | ₹317.45 |
Bikaji Foods International IPO is a main-board IPO of 2,93,73,984 equity shares of the face value of ₹1 aggregating up to ₹881 Crores. The issue is priced at ₹300 per share. The minimum order quantity is 50.
The IPO opens on Thu, Nov 3, 2022, and closes on Mon, Nov 7, 2022.
MUFG Intime India Pvt.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 International IPO using UPI as a payment gateway. Zerodha customers can apply in Bikaji Foods International IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bikaji Foods International IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bikaji Foods International IPO opens on Thu, Nov 3, 2022 and closes on Mon, Nov 7, 2022.
Bikaji Foods International IPO lot size is 50, and the minimum amount required for application is ₹15,000.
You can apply in Bikaji Foods International IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Bikaji Foods International IPO will be done on Friday, November 11, 2022, and the allotted shares will be credited to your demat account by Tue, Nov 15, 2022. Check the Bikaji Foods International IPO allotment status.
The Bikaji Foods International IPO listing date is on Wed, Nov 16, 2022.
