Bikaji Foods International IPO listing tomorrow

15 Nov 2022 , 02:29 PM

On the last day of subscription, November 7^th, the initial public offer of Bikaji Foods International was subscribed by 26.67 times. The issue with a price band of Rs 285-300 per share received bids for 55,04,00,900 shares against 2,06,36,790 shares on offer, as per data available with the NSE.

After finalization of the allotment, all eyes are on the debut of the company’s stock on Dalal Street. Bikaji Foods International IPO is expected to list tomorrow, i.e., November 16^th, on BSE and NSE.

The IPO is purely an offer for sale by its promoters and existing shareholders. Therefore, the company will not receive any proceeds from the issue. Ahead of the issue, Bikaji Foods raised Rs 262 crore from anchor investors. The company has allocated 87.37 lakh equity shares to anchor investors at Rs 300 per share.

Bikaji Foods International is one of largest fast-moving consumer goods (FMCG) brands in India. The company offers a range of products including snacks and sweets. As of June 30^th, 2022, it had expanded its operations to 23 states and 3 union territories.

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