Bikaji Foods International are 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.
In Fiscal 2021, The company is largest manufacturer of Bikaneri bhujia with annual production of 26,690 tonnes, and the company is 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 the annual capacity of 24,000 tonnes and one of the largest manufacturers 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, 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.
Bikaji Foods IPO – Details
| IPO Opening Date | 03 November 2022 |
| IPO Closing Date | 07 November 2022 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ₹873.72 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹285 – ₹300 |
| Market Lot | 50 Shares |
| Min Order | 50 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Employee Discount | 15 |
| Register | Link Intime India Private Limited |
| QIB Shares Offered | 50% |
| Retail Shares Offered | 35% |
| NII (HNI) Shares Offered | 15% |
Bikaji Foods IPO – Date Schedule
| IPO Open Date | 03 November 2022 |
| IPO Close Date | 07 November 2022 |
| Basis of Allotment Date | 11 November 2022 |
| Initiation of Refunds | 11 November 2022 |
| Credit of Shares to Demat Account | 14 November 2022 |
| IPO Listing Date | 16 November 2022 |
Bikaji Foods IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Minimum | 1 | 50 | 15,000 |
| Maximum | 13 | 650 | 1,95,000 |
Competitive Strengths
- Well-established brand with pan-India recognition;
- Diversified product portfolio focused on various consumer segments and markets;
- Strategically located, large scale sophisticated manufacturing facilities with stringent quality standards;
- Extensive pan-India and global distribution network, arrangements with reputed retail chains and growing e-commerce and exports channel;
- Extensive distribution network in India;
- Strategic arrangements with retail chains in India and international markets ;
- Growing e-commerce channel;
- Significant multi-product export sales;
- Consistent financial performance; and
- Experienced Promoters and management team.
Is Bikaji Foods good for Investment?
The company’s idea started with Bhujia and has today erupted into a variety of snacks and sweets. To promote and accelerate the western snack segment, it has also set up Bikaji Café and Bikaji Funkeen brands.
It is accelerating its operations with the launch of an online retail platform. Bikaji Foods International has come a long way, and its journey has made a special place in millions of hearts.
Along with unique products and creative packaging, Bikaji offers special combo packs for various celebrations and occasions. It combines its products and creates a distinct bundle of joy.
One can buy these Combo packs as gifts for their close ones to buy them for themselves and indulge in great flavors.
Company Promoters
- Shiv Ratan Agarwal
- Deepak Agarwal
- Shiv Ratan Agarwal (Huf)
- Deepak Agarwal (Huf)
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2019 | 910.64 | 834.79 | 50.92 |
| 31 March 2020 | 1082.90 | 1019.26 | 56.37 |
| 31 March 2021 | 1322.21 | 1202.09 | 90.33 |
| 30 June 2021 | 337.07 | 318.69 | 12.41 |
| 30 September 2021 | 777.13 | 721.35 | 40.93 |
| 31 March 2022 | 1621.45 | 1516.43 | 76.02 |
| 30 June 2022 | 423.82 | 402.03 | 15.69 |
Object Of The Issue
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
- carry out the Offer for Sale of up to 29,373,984 Equity Shares by the Selling Shareholders.
Bikaji Foods IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 5 | Prataap Snacks Limited | 122.8 |
| 2 | 2 | DFM Foods Limited | 49.3 |
| 3 | 1 | Britannia Industries Limited | 44.9 |
| 4 | 10 | Nestle India Limited | 83.2 |
Bikaji Foods IPO Strengths
- Well-established brand with pan-India recognition.
- Diversified product portfolio focused on various consumer segments and markets.
- Strategically located, large scale sophisticated manufacturing facilities with stringent quality standards.
- Extensive pan-India and global distribution network, arrangements with reputed retail chains and growing ecommerce and exports channel.
Bikaji Foods IPO Risks
- Inability to maintain or enhance the popularity of our “Bikaji” brand.
- Slowdown or interruption to the manufacturing operations or under-utilization of the existing or future manufacturing facilities.
- Any contamination or deterioration of our products could result in legal liability, and damage the reputation.
- Inability to expand or effectively manage the growing superstockist and distributor network, or any disruptions in the distribution chain.
- Inadequate or interrupted supply and price fluctuation of our raw materials and packaging materials.
Bikaji Foods IPO Promoter Holding
| Pre Issue Share Holding | 77.97% |
| Post Issue Share Holding | 75.96% |
Bikaji Foods IPO Prospectus
Company Contact Information
| Bikaji Foods International Limited F 196-199, F 178 & E 188 Bichhwal Industrial Area, Bikaner – 334 006 Rajasthan, India Tel: +91 151 – 2250350 E-mail: cs@bikaji.com Website: www.bikaji.com |
Bikaji Foods IPO Registrar
| Link Intime India Private Limited C-101, 1st Floor, 247 Park L.B.S. Marg, Vikhroli West, Mumbai 400 083 Maharashtra, India Tel: +91 22 4918 6200 E-mail: bikaji.ipo@linkintime.co.in Website: www.linkintime.co.in |
Bikaji Foods IPO Lead Manager(s)
| 1. JM Financial Limited 2. Axis Capital Limited 3. IIFL Securities Limited 4. Intensive Fiscal Services Private Limited 5. Kotak Mahindra Capital Company Limited |
Bikaji Foods IPO FAQs
| What is Bikaji Foods IPO? Bikaji Foods IPO is a main-board IPO. The issue is priced at ₹285 to ₹300 per equity share. The IPO is to be listed on BSE & NSE. |
| When Bikaji Foods IPO will open? The IPO is to open on 03 November 2022 for QIB, NII, and Retail Investors. |
| What is Bikaji Foods IPO Investors Portion? The investors’ portion for QIB-50%, NII-15%, and Retail 35%. |
| How to Apply the Bikaji Foods IPO? You can apply Bikaji Foods IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Bikaji Foods IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Bikaji Foods”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Bikaji Foods IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Bikaji Foods”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Bikaji Foods IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Bikaji Foods”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Bikaji Foods IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Bikaji Foods”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Bikaji Foods IPO Size? Bikaji Foods IPO size is ₹873.72 Crore. |
| What is Bikaji Foods IPO Price Band? Bikaji Foods IPO Price Band is ₹285 to ₹300. |
| What is Bikaji Foods IPO Minimum and Maximum Lot Size? The minimum bid is 50 Shares with ₹15,000 amount while the maximum bid is 650 shares with ₹1,95,000. |
| What is the Bikaji Foods IPO Allotment Date? Bikaji Foods IPO allotment date is 11 November 2022. |
| What is the Bikaji Foods IPO Listing Date? Bikaji Foods IPO listing date is 16 November 2022. The IPO is to list on BSE and NSE. |
