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The public issue of Bikaji Foods International was subscribed 67 per cent on the first day of the opening on Thursday. The initial public offer (IPO) came at a price band of ₹285-300 per share. The offer will close on November 07 (Monday) and the lot size is 50 shares.
The portion allocated for retail investors portion got fully subscribed, while quota allotted for NIIs and QIBs was subscribed by 0.58 per cent and 0.1 per cent, respectively.
The IPO is entirely an offer-for-sale to the tune of ₹881.22 crore by promoters and investors. Selling shareholders include Shiv Ratan Agarwal (up to 25 lakh shares), Deepak Agarwal (25 lakh), India 2020 Maharaja (up to 1.21 crore), Intensive Softshare (up to 50,000) and IIFL Special Opportunities Fund (up to 31.10 lakh).
The FMCG company on Wednesday mobilised ₹262.11 crore by deciding to allot 87.37 lakh shares at ₹300 a share to 36 anchor investors.
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QIB portion received bids for 54 per cent; issue closes on MondayGovernment of Singapore, ICICI Prudential, HDFC Mutual Fund, Nippon Life India, Aditya Birla Sun Life, Whiteoak Capital, Blackrock Global Funds, Goldman Sachs, Morgan Stanley, Eastspring Investments, Neuberger Berman Emerging Markets Equity Master Fund, Max Life Insurance, Tata Mutual Fund, Carmignac Portfolio, Kotak Mutual Fund, Bay Capital and Edelweiss were among the major anchor investors.
Bikaji Foods is the third-largest ethnic snacks company in the country. According to the company, it is the second fastest growing company in the organised snacks market.
The company has operations across 23 States and four Union Territories and is also exporting products to other countries with a total manufacturing capacity of 400 TPD, producing 300 products such as Bhujia, Namkeen, papad, western snacks and cookies among others.
JM Financial Limited, Axis Capital Limited, IIFL Securities Ltd, Intensive Fiscal Services Private Limited and Kotak Mahindra Capital Company Limited are the lead managers of the IPO. Link Intime India is the registrar to the IPO.
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