Bikaji Foods International IPO Subscribed 26.67 times on Final Day

 

Bikaji Foods International IPO Subscribed 26.67 times on Final Day

Mumbai, November 07, 2022: Bikaner-Rajasthan based snack company Bikaji Foods International Limited, the third largest ethnic snacks company in India and the second fastest growing company in the Indian organised snacks market has received bids of 55,04,00,900 shares against the offered 2,06,36,790 equity shares, at a price band of ₹285-300, according to the data available on the stock exchanges. Overall the issue was subscribed 26.67times on the last day of bidding.

The reserved portion for qualified institutional buyer portion saw a subscription of 80.63 times.Non-Institutional segment saw a response of 7.10 times.The Retail Portion saw a subscription of 4.77times. Employee portion was subscribed 4.38 times.

The issue with a face value of Re 1 per equity share is an entirely an offer for sale (OFS) up to 29,373,984 by existing shareholders and promoter group entities.

 

The offer of sale comprises up to 2,500,000 equity shares by Shiv Ratan Agarwal, up to 2,500,000 equity shares by Deepak Agarwal (“The Promoter Selling Shareholders”), up to 12,110,967 equity shares by India 2020 Maharaja Limited, up to 50,000 equity shares by Intensive Softshare Private Limited, up to 3,110,056 equity shares by IIFL Special Opportunities Fund, up to 1,995,552 equity shares by IIFL Special Opportunities Fund-Series 2, up to 976,179 equity shares by IIFL Special Opportunities Fund-Series 3, up to 2,753,339 equity shares by IIFL Special Opportunities Fund-Series 4 and up to 2,162,226 equity shares by IIFL Special Opportunities Fund-Series 5 (“IIFL Funds”), up to 1,215,665 equity shares by Avendus Future Leaders Fund I (The “Investor Selling Shareholders”).

 

JM Financial Limited, Axis Capital Limited, IIFL Securities Limited, Intensive Fiscal Services Private Limited and Kotak Mahindra Capital Company Ltd are the book running lead managers to the issue.