Bikaji Foods International IPO
Bikaji Foods International IPO — date, price band, lot size & details 2022
Bikaji Foods International listed on 16 Nov 2022 at ₹322.8, 7.6% above the ₹300 issue price.
Bikaji Foods International is the third largest ethnic snacks company in India, selling bhujia, namkeen, sweets, papad and western snacks under the Bikaji brand. Its total income was Rs 1,621.45 crore in FY2022.
Stock price
Bikaji Foods International is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 03 Nov 2022
- Close 07 Nov 2022
- Allotment 11 Nov 2022
- Refund/credit 14 Nov 2022
- Listing 16 Nov 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 3 to 7 Nov, 2022 |
|---|---|
| Price Band | ₹285 – ₹300 |
| Face Value | ₹1 |
| Lot Size | 50 Shares |
| Issue Size | ₹880.86 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 15.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 15,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 50 shares at the ₹300 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 50 | ₹15,000 |
| Retail (max) | 13 | 650 | ₹1,95,000 |
| S-HNI (min) | 14 | 700 | ₹2,10,000 |
| S-HNI (max) | 66 | 3,300 | ₹9,90,000 |
| B-HNI (min) | 67 | 3,350 | ₹10,05,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 1,082.90 crore in FY2020 to Rs 1,621.45 crore in FY2022.
- 02It was the largest maker of Bikaneri bhujia in Fiscal 2022, producing 29,380 tonnes.
- 03Borrowing was low, with debt to equity of 0.17 as per the source.
- 04Net worth grew from Rs 529.17 crore on 31 March 2020 to Rs 834.80 crore on 30 June 2022.
- 05It sold more than 300 products across six categories.
Risks · 5
- 01The whole Rs 880.86 crore issue was offer for sale, so no money went to the company.
- 02The pre-issue P/E was 98.36 at the upper band of Rs 300, based on EPS of Rs 3.05.
- 03Profit after tax fell from Rs 90.34 crore in FY2021 to Rs 76.03 crore in FY2022 as input costs rose.
- 04Snacks is a competitive market with large national and local brands, and the source puts the PAT margin at 4.72%.
- 05Promoters and the promoter group held 77.97% before the issue and 75.96% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Bikaji Foods International offer document.
| Metric | 30 Jun 2022 | 31 Mar 2022 | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|---|
| Assets | 1,146.28 | 1,102.13 | 871.96 | 817.15 | 676.64 |
| Total Income | 423.82 | 1,621.45 | 337.08 | 1,322.21 | 1,082.90 |
| Profit After Tax | 15.70 | 76.03 | 12.41 | 90.34 | 56.37 |
| NET Worth | 834.80 | 819.26 | 618.45 | 604.10 | 529.17 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | ||
| Total Borrowing | 156.39 | 141.23 | 101.13 | 86.15 | 52.30 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Bikaji Foods International RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Bikaji Foods International IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹3.05 | ₹2.52 |
| P/E Ratio (x) | 98.36 | 119.05 |
| Market Cap at Offer Price (₹ Cr) | ₹1,544.26 | ₹1,869.05 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹300 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Bikaji Foods International IPO will be updated shortly.
About the company
Its six main categories are bhujia, namkeen, packaged sweets, papad, western snacks and other snacks such as gift packs, frozen food, mathri and cookies. It sold more than 300 products under the Bikaji brand in the six months to 30 June 2022.
In Fiscal 2022 it was the largest maker of Bikaneri bhujia, producing 29,380 tonnes, and the second largest maker of handmade papad with capacity of 9,000 tonnes. It is also the third largest player in organised sweets, with capacity for packaged rasgulla, soan papdi and gulab jamun. It sells abroad as well.
The IPO was Rs 880.86 crore and was entirely an offer for sale, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Bikaji Foods International IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Intensive Fiscal Services Pvt. Ltd
8 issues handledBest listing: Chemcon Speciality Chemicals (+115.0%). Weakest: Gopal Snacks (-12.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Bikaji Foods International?
The current Grey Market Premium is ₹20, or 7% over the issue price.
What is the Bikaji Foods International IPO price band?
₹285 to ₹300, on a face value of ₹1.
When is the allotment?
The basis of allotment is 11 November 2022, with listing on 16 November 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
