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Bikaji Foods shares have hit Dalal Street giving ‘fair return’ to its allottees. Bikaji Foods shares today opened on BSE at ₹321, delivering 7 per cent listing premium to the lucky allottees. After opening at ₹321, Bikaji shares surged further and made intraday high of ₹335 apiece.
Unveiling strategy after Bikaji Foods share listing, Manoj Dalmia, Founder & Director at Proficient equities said, “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. 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. It has subscribed 26x in total where investors can expect some listing gains and long term investors can park their funds in this issue.”
Bikaji Foods IPO was subscribed whopping 26.67 times whereas its retail portion was subscribed 4.38 times. Its QIB portion got subscribed 80.63 times.
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.
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(This story has not been checked by Kashmir Bulletin and is auto-generated from other sources)
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