There has been a lot going on in the IPO market this week. The IPO of food company Bikaji Foods International will open on November 3. The company has set the price for this issue at 881 crowns. The price under the IPO is kept at Rs 285-300. Bikaji Foods IPO is available for subscription till November 7. On the other hand, it will open for anchor investors on November 2. Let us tell you that today i.e. on October 31, the IPO of DCX Systems is open for subscription.
Only Offer for Sale (OFS)
There is only Offer for Sale (OFS) in Bikaji Foods IPO. 2.93 crore shares will be sold by the promoter and existing shareholders in the offer for sale. The company will not earn any income from this issue. Shiv Ratan Agarwal and Deepak Agarwal will both sell 25 lakh shares in the promoters. The remaining 2.43 crore shares are held by existing investors India 2020 Maharaja, IIFL Special Opportunities Fund, IIFL Special Opportunities Fund-Series 2, IIFL Special Opportunities Fund-Series 3, IIFL Special Opportunities Fund-Series 4, IIFL Special Opportunities Fund-Series 5 and Avendus Will be sold by Future Leaders Fund.
It is worth mentioning that Shiv Ratan Agarwal, the founder of Bikaji Foods International is the grandson of Haldiram’s founder Gangabishan Agarwal. It was founded in 1986 by Shiv Ratan Agarwal. It was originally incorporated as Shivdeep Industries Limited. In 1993, the name of the company was changed to Bikaji Foods.
The lot size in this IPO will be 50 shares. A lot must be purchased. A minimum investment of Rs 15,000 is required in this context by retail investors. The maximum number of lots that can be invested is 13. That is, the maximum investment that can be made is 1.95 lakhs. JM Financial, Axis Capital, IIFL Securities, Intensive Fiscal Services, and Kotak Mahindra Capital Company will be its book-running lead managers.
Currently exporting to 21 countries
Let us tell you, Shiv Ratan Agarwal, founder of Bikaji Foods International, is the grandson of Haldiram’s founder Gangabishan Agarwal. Shiv Ratan Agarwal established the company in 1986. It was originally incorporated as Shivdeep Industries Limited. In 1993, the name of the company was changed to Bikaji Foods. Presently the company has a presence in 23 states and union territories. At the same time, its product is exported to 21 countries in North America, Europe, Middle East, Africa and Asia Pacific.
In what condition are the finances?
A 23 percent increase in revenue was reported by Bikaji Foods International in FY22, reaching Rs 1,611 crore. During this period, the profit decreased from 90.3 crores to 76.03 crores. A 26.5 percent increase in profits accompanied a 26.5 percent increase in revenue for the quarter ended June 2022.
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