Bikaji Foods IPO
Rajasthan-based, Bikaji Foods International, is coming up with an IPO worth Rs.1,000 crores. through an Offer-For-Sale to sell up to 2.94 crore shares...
IPO Details
- Open Date
03 Nov 2022
- Close Date
07 Nov 2022
- IPO Price Range
₹ 285 to ₹300
- IPO Size
₹ 881.22 Cr
- Listing Exchange
BSE, NSE
- Listing Date
16 Nov 2022
IPO Timeline
Last Updated: 16 November 2022 11:34 AM by 5Paisa
Rajasthan-based, Bikaji Foods' IPO opens on 3rd November and remains open for subscription until 7th November. The issue is worth 881.2 crores consist of an Offer-For-Sale of 2.94 crore equity shares.
The shares will be allotted on 11th November while the issue will be listed on 16th November.
Both the promoters, Ratan Agarwal and Deepak Agarwal, are looking to offload up to 25 lakh company shares each. Other institutions participating in the OFS include India 2020 Maharaja, Ltd; Intensive Softshare Pvt Ltd, 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 Future Leaders Fund I. JM Financial, Axis Capital, IIFL Securities Ltd, Intensive Fiscal Services Pvt Ltd and Kotak Mahindra Capital Company are the book running lead managers to the issue.
Objective of Bikaji Foods IPO
The proceeds from the issue will be used towards:
1) the listing will enhance its visibility and brand image
2) to provide a public market for the equity shares in India.
Bikaji Foods IPO Video
Bikaji Foods is one of India’s largest fast-moving consumer goods (“FMCG”) brands with an international footprint, selling Indian snacks and sweets, and are among the fastest growing companies in the Indian organised snacks market.
The product range includes six principal categories such as bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily includes gift packs (assortment), frozen food, mathri range and cookies.
The company is the largest manufacturer of Bikaneri bhujia with annual production of 26,690 tonnes, and we were the second largest manufacturer of handmade papad with an annual production capacity of 9,000 tonnes in Fiscal 2021 The company is also one of the largest manufacturers of packaged rasgulla with an annual capacity of 24,000 tonnes along with that of soan papdi and gulab jamun with annual capacity of 23,040 tonnes and 12,000 tonnes, respectively.
The Rajasthan-based snack major is backed by investors like Avendus, Axis Asset Management, Lighthouse Funds, IIFL Asset Management and Intensive Softshare, among others.
The company has six operating manufacturing facilities, four of which are located in Bikaner, Rajasthan and one each in Assam and Karnataka. It also has a contract manufacturing unit in West Bengal and a small facility in Mumbai catering to restaurant sales. Bikaji intends to establish and operationalise five more manufacturing facilities, one in Rajasthan catering to frozen snacks and sweet products owned and operated by the company besides others across Rajasthan, Bihar and Uttar Pradesh, where it will produce namkeen and western snacks.
The company, which boasts around 250 varieties of products, was launched in 1993 and has operations in 22 states and three union territories in India. Further, it exports products to 35 countries, including those in North America, Europe, the Middle East, Africa, and Asia Pacific region.
Related Articles - Know about Bikaji Foods International IPO GMP
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Revenue | 1611.0 | 1310.7 | 1074.6 |
| EBITDA | 139.5 | 144.8 | 94.6 |
| PAT | 76.0 | 90.3 | 56.4 |
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Total Assets | 141.2 | 817.1 | 676.6 |
| Share Capital | 25.0 | 24.3 | 24.3 |
| Total Borrowings | 141.2 | 86.2 | 52.3 |
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 57.5 | 117.2 | 60.7 |
| Net cash from / (used in) investing activities | -231.6 | -114.1 | -63.5 |
| Net cash flow from / (used in) financing activities | -5.3 | -9.1 | -31.5 |
| Net increase (decrease) in cash and cash equivalents | -5.3 | -5.9 | -34.3 |
Peer Comparison
| Name of the Company | Total Revenue | Basic EPS | Nav Rs. per share | PE | RoNW% |
|---|---|---|---|---|---|
|
Bikaji Foods International Limited |
1,610.96 | 3.15 | 32.83 | NA | 9.51% |
| Prataap Snacks Limited | 1,396.62 | 1.24 | 266.17 | 748.91 | 0.47% |
| DFM Foods Limited | 554.45 | -4.93 | 30.38 | -77.84 | -16.21% |
| Nestle India Limited | 14,709.41 | 222.46 | 216.2 | 86.85 | 102.90% |
| Britannia Industries Limited | 14,136.26 | 63.31 | 105.37 | 59.75 | 60.08% |
Strengths
1) Well-established brand with pan-India recognition
2) Diversified product portfolio focused on various consumer segments and markets
3) Strategically located, large scale sophisticated manufacturing facilities with stringent quality standards
4) Extensive pan-India and global distribution network, arrangements with reputed retail chains and growing ecommerce and exports channel
Risks
1) Inability to maintain or enhance the popularity of our “Bikaji” brand
2) Slowdown or interruption to the manufacturing operations or under-utilization of the existing or future manufacturing facilities
3) Any contamination or deterioration of our products could result in legal liability, and damage the reputation
4) Inability to expand or effectively manage the growing superstockist and distributor network, or any disruptions in the distribution chain
5) Inadequate or interrupted supply and price fluctuation of our raw materials and packaging materials
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FAQs
The Bikaji Foods International IPO lot size is 50 shares per lot. A retail-individual investor can apply for up to 13 lots (650 shares or ₹195,000).
The price band of the Bikaji Foods International IPO is set at Rs. Rs. 285 – Rs. 300 per share.
The Bikaji Foods International IPO opens on 3rd November and closes on 7th November.
The issue consists of Offer-For-Sale of 2.94 crore equity shares aggregating to Rs. 881.2 crores.
Bikaji Foods International is promoted by Shiv Ratan Agarwal, Deepak Agarwal, Shiv Ratan Agarwal (HUF) and Deepak Agarwal (HUF).
The allotment date is set for 11th November
The issue will be listed on 16th November
JM Financial, Axis Capital, IIFL Securities Ltd, Intensive Fiscal Services Pvt Ltd and Kotak Mahindra Capital Company are the book running lead managers to the issue.
The proceeds will be used:
1) the listing will enhance its visibility and brand image
2) to provide a public market for the equity shares in India.
To apply for the IPO, follow the steps given below
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and price at which you wish to apply for
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
● You will receive a mandate notification to block funds in your UPI app
Contact Information
Bikaji Foods
Bikaji Foods International Limited
F 196-199,
F 178 & E 188 Bichhwal Industrial Area,
Bikaner – 334 006
Phone: +91 151 - 2250350
Email: cs@bikaji.com
Website: https://www.bikaji.com/
Bikaji Foods IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: bikaji.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Bikaji Foods IPO Lead Manager
JM Financial Limited
Axis Capital Limited
IIFL Securities Ltd
Intensive Fiscal Services Private Limited
Kotak Mahindra Capital Company Limited