Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
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 ₹300.00 per share . The lot size for an application is 50. The minimum amount of investment required by an retail is ₹14,250 (50 shares). 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 Date | November 3, 2022 to November 7, 2022 |
| Listing Date | November 16, 2022 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹285 to ₹300 per share |
| Issue Price Final | ₹300 per share |
| Lot Size | 50 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 2,93,73,984 shares (aggregating up to ₹880.86 Cr) |
| Employee Discount | ₹15.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 24,95,09,880 shares |
| Share Holding Post Issue | 24,95,09,880 shares |
Bikaji Foods 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, 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 | Maximum 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%) |
| 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 IPO raises ₹262.12 crore from anchor investors. Bikaji Foods International IPO Anchor bid date is November 2, 2022. Bikaji Foods International IPO Anchor Investors list
| Bid Date | November 2, 2022 |
| Shares Offered | 87,37,194 |
| Anchor Portion Size (In Cr.) | 262.12 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 11, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 9, 2023 |
Bikaji Foods International IPO opens on November 3, 2022, and closes on November 7, 2022.
| IPO Open Date | Thu, Nov 3, 2022 |
| IPO Close Date | Mon, Nov 7, 2022 |
| Tentative Allotment | Fri, Nov 11, 2022 |
| Initiation of Refunds | Mon, Nov 14, 2022 |
| Credit of Shares to Demat | Tue, Nov 15, 2022 |
| Tentative Listing Date | Wed, Nov 16, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Nov 7, 2022 |
Investors can bid for a minimum of 50 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 International IPO is ₹7485.30 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...
| Listing Date | November 16, 2022 |
| BSE Script Code | 543653 |
| NSE Symbol | BIKAJI |
| ISIN | INE00E101023 |
| Final Issue Price | ₹300 per share |
| BSE Listing Group | B |
Bikaji Foods International Ltd.
F 196-199,
F 178 & E 188 Bichhwal Industrial Area,
Bikaner – 334 006
Bikaner, Rajasthan
Phone: +91 151 - 2250350
Email: cs@bikaji.com
Website: https://www.bikaji.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: bikaji.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
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 ₹880.86 Crores. The issue is priced at ₹300 per share. The minimum order quantity is 50.
The IPO opens on November 3, 2022, and closes on November 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 November 3, 2022 and closes on November 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 Tuesday, November 15, 2022. Check the Bikaji Foods International IPO allotment status.
The Bikaji Foods International IPO listing date is on Wednesday, November 16, 2022.
Useful Articles
RHP