|Opening Date||03, November 2022|
|Closing Date||07, November 2022|
|Refund Initiation||14, November 2022|
|Listing Date||16, November 2022|
|Face Value||₹1 per equity share|
|IPO Price Band||₹285 to ₹300 per equity share|
|Minimum Order Quantity||50 Shares|
|Issue Size||₹881.22 Cr|
The month of October 2022, saw a couple of IPOs getting listed in the secondary market. These were Electronics Mart India Ltd and Tracxn Technologies Ltd. Whereas Electronics Mart India Ltd proved to be a once in a lifetime opportunity, generating 43% listing gains, Tracxn Technologies also performed superbly, listing at 17% returns. The retail subscription for these IPOs saw an overwhelming response, describing that retail investors are eager to to invest. After Electronics Mart India Ltd, which received a whopping 20.77 times subscription from retail investors, all eyes are now aimed at Bikaji Foods International Ltd, which is going live with its IPO on 03rd November. Let’s learn in detail all its financials and if this IPO is worth investing in or not!
Incorporated in 1994, Bikaji International Foods Ltd is India's 3rd largest ethnic snacks company in India with an international footprint & 2nd fastest growing company in the Indian organized snacks market. The company's product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range and cookies. In the six months that ended June 30, 2022, the company sold more than 300 products under the Bikaji brand.
The FMCG company has established a network of operations in the states of Rajasthan, Assam and Bihar and other parts of India. In Q1FY22, Bikaji exported products to 21 international countries in North America, Europe, Middle East, Africa, and Asia Pacific.
The financials of the company for the last three years are detailed as below
|Particulars||Three month period ended June 30, 2022||As of and for the Financial Year ended March 31|
|Equity share capital||25||25||24||24|
|Revenue from Operations||419||1611||1311||1075|
|Profit/ (Loss) after Tax||16||76||90||56|
|Return on Equity||1.90%||9.50%||14.90%||10.70%|
|Earnings per share (₹/share, diluted)||0.65*||3.15||4||2|
|Return on Capital Employed||2.60%||13.90%||20.90%||12.80%|
|Net asset value per share||33||33||25||22|
all numbers stated are in million.*not annualized
Let’s now move onto the main part of this article. Here, we’re going to be looking at some of the most important details of this upcoming IPO viz - Bikaji Foods International Ltd date and its share price.
According to the Red Herring Prospectus filed by the company, the public issue of the equity shares is going live from November 03 and will be available for subscription until November 07, 2022.
The total issue size of the latest Bikaji Foods International Ltd is declared to be ₹881.22 crores. This is a total offer for sale. The company is offloading 29,373,984 equity shares in OFS.
50% of the offer is for QIBs (Qualified Institutional Buyers), 35% for retail investors, and the balance 15% for NIBs (Non-institutional Investors).
The price band of the company’s upcoming IPO 2023 is declared to range between ₹285 to ₹300 per equity share
Since the IPO of Bikaji Foods International Ltd is from the mainboard, it would be listed on both - the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE)
The net proceeds of the Issue, i.e. gross proceeds of the Issue are proposed to be utilized in the following manner:
If you wish to become a part of this exciting IPO opportunity, you will need to have an online demat and trading account, which will help you get shares of your favorite companies. To get an online DEMAT account for Free*, all you have to do is sign-up with Motilal Oswal and get started.
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