Snacks and sweets company Bikaji Foods International will open for subscriptions for its maiden public issue this week.
Here are the essential details you must know to make a hassle-free subscription:
IPO Price & Size:
Bikaji Foods has fixed the IPO price band at Rs 285-300 per share. At the upper end of the price band, the IPO will raise Rs 881.22 crore.
Window For Bidding:
The offer will open for bidding on November 3, Thursday and close on November 7.
Offer Composition:
The public issue is purely an offer-for-sale. Existing shareholders, including promoters, will offload more than 2.93 crore equity shares.
Promoters Shiv Ratan Agarwal and Deepak Agarwal will be shedding 25 lakh company shares each.
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 Future Leaders Fund I will offload remaining of the 2.43 crore shares.
Usage Of Proceeds:
The company aims to raise Rs 881.2 crore via this maiden public issue. The entire proceeds after deducting the issue expenses will go to selling shareholders, not to the company.
Minimum Shares Application:
Retail investors can apply for a minimum of 50 shares and in multiples of 50 shares thereafter.
The minimum investment by retail investors reckons at 15,000 per lot and Rs 1.95 lakh for 13 lots at maximum, at the higher end of the price band.
Shares Reserved For Employees:
250,000 shares have been reserved for the company’s employees. Further, a discount of Rs 15 per share have been offered to them.
Brand Presence:
Bikaji brand was launched in 1993, and today it has expanded across India, actively operating in 23 states and four Union Territories as of June 2022. The company exports its products to 21 international countries, including North America, Europe, the Middle East, Africa, and Asia Pacific.
Book Running Lead Managers ( BRLM):
JM Financial, Axis Capital, IIFL Securities, Intensive Fiscal Services, and Kotak Mahindra Capital Company are the book running lead managers.