Are you thinking of applying for the Bikaji Foods IPO? Here's everything you need to know about the IPO, from the date and price band to the allotment and listing. Plus, we'll give you our review of whether or not you should apply for the IPO.
Bikaji Foods IPO Review (Apply or Not)
Bikaji Foods, one of the leading FMCG brands in India, is all set to hit the market with its IPO in November. The company is looking to raise around ₹881 crores via the IPO, which comprises a fresh issue of ₹[.] crores and an offer for sale of up to 29,373,984 equity shares of ₹1 each.
The retail quota for the IPO is 35%, with 50% reserved for QIBs and 15% for HNIs. Bikaji Foods manufactures and sells a wide range of snacks and sweets, including Bikaneri bhujia, soan papdi, packaged rasgulla, gulab jamun and more. The company has operations in 22 states and 3 union territories across India, as well as in around 35 countries overseas.
So should you apply for the Bikaji Foods IPO? Let's take a closer look at the company and its prospects to find out.
Bikaji Foods IPO Date & Price Band Details
Bikaji Foods IPO is scheduled to hit the market on November 3 and will close on November 7. The company is aiming to raise around ₹881 crores through the IPO, which comprises a fresh issue of ₹[.] crores and an offer for sale of up to 29,373,984 equity shares of ₹1 each. The retail quota is set at 35%, with 50% allocated for QIB investors and 15% for HNIs.
Bikaji Foods International Limited is one of the leading FMCG brands in India. The company sells snacks and sweets, and is the largest manufacturer of Bikaneri bhujia, soan papdi, packaged rasgulla, and gulab jamun. Their product range also includes Namkeen, Papad, Sweets, Snacks, Combo Packs, Bhujia, and more. They sell around 250 products under their brand.
The company has operations in 22 states and 3 union territories in India. They also sell in around 35 countries overseas. They have six manufacturing facilities, four located in Bikaner (Rajasthan), one in Guwahati (Assam), and one facility in Tumakuru (Karnataka) held through our subsidiary Petunt Food Processors Private Limited to cater to the southern markets in India. They have 2 contract manufacturing units in Kolkata (West Bengal) and Mumbai.
Check out Bikaji Foods IPO details for more information on the company's upcoming IPO.
Bikaji Foods IPO Market Lot
The Bikaji Foods IPO market lot has been set at 35 shares, with a minimum application amount of ₹1,950. The IPO price band has been set at ₹205-206 per share.
The IPO comprises a fresh issue of up to ₹420 crore and an offer for sale of up to 29,373,984 equity shares by the selling shareholders. The retail quota is 35%, QIB is 50%, and HNI is 15%.
The company plans to utilise the fresh issue proceeds towards funding working capital requirements and general corporate purposes.
Bikaji Foods International Limited is one of the leading FMCG brands in India with a strong presence in both the domestic and international markets. The company was founded in 1993 by Shiv Ratan Agarwal and offers a wide range of products including snacks, sweets, and Namkeen. It has six manufacturing facilities spread across India with four located in Bikaner, Rajasthan.
Bikaji Foods IPO Allotment & Listing Dates
The Bikaji Foods IPO allotment and listing dates have not been announced yet. The IPO is set to hit the market on November 3 and will close on November 7. The IPO is aiming to raise around ₹881 crores and comprises a fresh issue of ₹420 crores and an offer for sale of up to 29,373,984 equity shares. The retail quota is 35%, QIB is 50%, and HNI is 15%.
The company plans to utilise the fresh issue proceeds towards funding working capital requirements and general corporate purposes. Once the allotment and listing dates are announced, we will update this article accordingly. Stay tuned for more updates on the Bikaji Foods IPO!
Bikaji Foods IPO Form
The Bikaji Foods IPO Form is now available for download on the company website. The form must be duly filled and submitted by the investor, along with the required documents, in order to participate in the IPO.
The form requires the following details to be provided by the investor:
-Name, address, PAN number, email address, and phone number
-Number of shares applied for
-Category of applicant (individual/HUF/NRI/QIB/Corporate Body)
-Mode of payment (net banking/cheque/demand draft)
After filling in all the requisite details, the completed form must be sent to the registrar of Bikaji Foods IPO, Bigshare Services Private Limited. The address is given on the website. The last date for receipt of forms is November 7, 2019.
Bikaji Foods IPO Valuation – FY2021
The Bikaji Foods IPO is valued at ₹3,600-3,900 crore.
Bikaji Foods International Limited is one of the leading FMCG brands in India and the largest manufacturer of Bikaneri bhujia, soan papdi, packaged rasgulla, and gulab jamun. The company was launched in 1993 by Shiv Ratan Agarwal and has a strong presence in India, with operations in 22 states and 3 union territories, as well as in 35 countries overseas. It has six manufacturing facilities, four of which are located in Bikaner, Rajasthan.
For the fiscal year ended March 31, 2019, Bikaji Foods reported a revenue of ₹1,664.4 crore and a net profit of ₹62.9 crore. For the nine months ended December 31, 2019, the company reported a revenue of ₹2,040 crore and a net profit of ₹84 crore.
At its upper price band of ₹3,900 crore, Bikaji Foods is valued at 23 times its FY2019 earnings and 11 times its 9MFY2020 earnings.
Given the company's strong growth prospects and brand recognition in India, the IPO is fairly priced at the upper end of the price band.
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