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Bikaji Foods International, a salt and dessert maker based in Rajasthan, is about to bring its IPO. This IPO of Bikaji Foods is going to be Rs 1000 crore.
Bikaji has submitted draft papers for this with the Market Regulator Sebi (SEBI). Bikaji Foods, the market leader in the family pack segment, manufactures over 250 products.
There will be so many shares issue
Promoters of the company include Shiva Ratan Agarwal, Deepak Agarwal, Shiva Ratan Agarwal (HUF), and Deepak Agarwal (HUF). According to the documents submitted with SEBI, the company will issue a total of 2,93,73,984 equity shares under Offer for Sale (OFS).
In this issue, the company’s promoters Shiva Ratan Agarwal and Deepak Agarwal will issue 25 lakh shares each. Apart from this, other investors of the company will also issue their shares.
These are the book running lead manager
The IPO has Book Running Lead Manager JM Financial, Axis Capital, IIFL Securities, Intensive Fiscal Services Private Limited, and Kotak Mahindra Capital Company Limited of Bikaji Foods. At the same time, Link Intime India Private Limited is its registrar.
According to the documents submitted to SEBI (DRHP), Bikaji is the largest producer of Bikaneri Bhujia on an annual basis with 26,690 tonnes in FY20-21. The company plans to sell up to 2,93,73,984 shares. According to market sources, the company is expected to raise Rs 1,000 crore from IPO.
It is believed that the company will carry out the expansion plan with the amount to be raised from the IPO as well as launch new products. At the end of the 2020 financial year, the company’s revenue was Rs 1073 crore. Salty accounted for 37 percent of the company’s total sales, 32 percent of Bhujia, 14 percent of sweets, and 10 percent of papad. Ready to It (Ready To Eat) snack market is developing rapidly in India. It is believed that between 2021 and 2025, this Salana will grow at a rate of 8.9 percent.