Bikaji Foods IPO subscribed nearly 27 times. Check GMP, share allotment, listing date details here

As per market observers, Bikaji Foods shares are commanding a premium (GMP) of ₹38 in the grey market today. The shares of the company are expected to list on leading stock exchanges BSE and NSE on Wednesday, November 16, 2022.

The finalization of basis of share allotment of Bikaji Foods IPO is expected to take place this week on Friday, November 11, 2022 and if allotted, then the credit of shares to demat account of bidders will be done next week on Tuesday, November 15, 2022. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on the registrar’s website here or on the BSE website here.

Bikaji Foods IPO consisted of 2.93 crore shares in the public issue, which will be a pure offer for sale (OFS) by its promoters and existing shareholders. Since the IPO is completely an OFS, the company will not receive any proceeds from the issue. The price band was fixed in the range of ₹285 to ₹300 per share. Ahead of its issue last week, Bikaji Foods said it has mobilised ₹262 crore from anchor investors.

Bikaji Foods International Ltd is one of India’s largest fast-moving consumer goods brands with an international footprint, selling Indian snacks and sweets. Founder of Bikaji Foods International Shiv Ratan Agarwal is the grandson of Haldiram’s founder Gangabishan Agarwal. Shiv Ratan Agarwal founded the company in 1986. It was originally incorporated as Shivdeep Industries Ltd. In 1993, the company’s name was changed to Bikaji Foods.

Its product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks and other snacks which primarily includes gift packs (assortment), frozen food, mathri range and cookies.

The quota meant for Qualified Institutional Buyers (QIBs) received 80.63 times subscription, while the non-institutional investors category was subscribed 7.10 times and Retail Individual Investors (RIIs) was subscribed 4.77 times.