Bikaji Foods International Limited has come up with an initial public offer (IPO). It will open on November 03-07, 2022 at Rs.285-300 a share. The IPO issue size is around Rs.881.22 crore. The minimum bid will be for 50 shares and in its multiples thereafter.
Overview
Bikaji Foods International Limited is the third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets. Also, it is the second fastest growing company in the Indian organized snacks market. It is the largest manufacturer of Bikaneri bhujia with annual production of 29,380 tonnes & second largest manufacturer of handmade papad with an annual production capacity of 9,000 tonnes in 2022. Moreover, the company is also the third largest player in the organized sweets market with annual capacity of 24,000 tonnes for packaged rasgulla, 23,040 tonnes for soan papdi and 12,000 tonnes for gulab jamun.
Over the years, Bikaji Foods has established market leadership in the ethnic snacks market in states of Rajasthan, Assam and Bihar with extensive reach. It has gradually expanded the company’s footprint across India, with operations across 23 states and four union territories as of June 30, 2022. Additionally, it has exported products to 21 international countries, including countries in North America, Europe, Middle East, Africa, and Asia Pacific, representing 3.20% of sales of food products.
Bikaji Foods’ product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range and cookies. In the three months ended June 30, 2022, it sold more than 300 products under the Bikaji brand.
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