Bikaji Foods International lists at 7.6% premium over issue price; details here

The shares of Bikaji Foods International made their stock market debut today, 16 November, listing at a premium of over 7 percent. On the Bombay Stock Exchange (BSE), the shares of Bikaji Foods opened at Rs 312.15, up by 21.15 from its issue price of Rs 300. On the National Stock Exchange, the shares opened 7.60 percent higher at Rs 322.80. The shares have been listed in the ‘B’ group of securities on the BSE. Experts were predicting that the Bikaji Foods IPO shares would list positively. Before the shares were listed, the grey market premium of Bikaji Foods was Rs 28, meaning that the stock was expected to list at a premium of Rs 28. At 10:30 am, the Bikaji Foods stock was trading 8.27 percent higher on the BSE at Rs 324.80. On the NSE, the shares were trading 8.4 percent higher at Rs 325.20. Details of the Bikaji Foods International IPO: The public issue of the company was purely an offer for sale of 29,373,984 shares. The Rs 881-crore IPO was subscribed 26.67 times on the final day of bidding, with qualified institutional buyers (QIBs) showing the maximum interest. The QIB portion was subscribed 80.63 times, while the retail section was subscribed 4.77 times. The portion allotted to non-institutional investors was bid upon 7.10 times. Ahead of its IPO opening on 3 November, Bikaji Foods had raised Rs 262 crore from anchor investors. The shares were in the price band of Rs 285-300 and investors could buy a minimum of 50 shares. The share allotment took place on 11 November. Bikaji Foods International financials: BIkaji Foods is the third largest ethnic snacks company in the country and the second fastest growing company in the Indian organised snacks market, as per reports. It also has an international footprint. Bikaji’s compound annual growth rate (CAGR) in sales was 22 percent in 2020-22. In the same period, its profit after tax increased at a CAGR of 16 percent while its earnings before interest, tax, depreciation and amortisation (EBITDA) grew at a CAGR of 21 percent. However, in FY 22, Bikaji Foods had recorded a 16 percent year-on-year decline in profit due to higher input costs, while its EBITDA margin also dropped 230 basis points. However, its revenue grew 22 percent in the same time frame. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.