Bikaji Foods IPO: You must have often seen Amitabh Bachchan advertising Bika Ji’s Bhujia or other products on TV or other media platforms. Now Bikaji Foods International with Bikaneri Bhujia is bringing an IPO of 1000 crores. The company has submitted papers with SEBI for this.
Some shareholders, including two promoters of the Rajasthan-based company, will bring an offer for sale (OFS) of 2.94 crore shares in the IPO. According to the documents submitted to SEBI (DRHP), Bikaji is the largest producer of Bikaneri Bhujia on an annual basis with 26,690 tonnes in the financial year 2020-21.
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Promoter will sell 25-25 lakh shares
The company plans to sell up to 2,93,73,984 shares. These shares will be sold by two promoters, Ratan Agarwal and Deepak Agarwal. Both the promoters will sell 25 lakh shares each. According to market sources, the company expects to raise Rs 1,000 crore from the IPO.
Other shareholders will also sell stake
Apart from the promoters, IIFL, a shareholder of Bikaji Foods and private equity firm Lighthouse Advisors will also sell the shares. Investment firm Lighthouse Advisors holds 7 per cent in the company and IIFL holds 6.5 per cent.
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According to the prospectus filed with SEBI, Lighthouse Advisors will sell 1.21 crore equity shares while IIFL Special Opportunities Fund will sell 11 million shares. JM Financial, IIFL Securities, Axis Capital and Kotak Mahindra Capital Company Limited are the Lead Book Running Managers for the issue.
Amitabh Bachchan is the brand ambassador of the company
Shiv Ratan Agarwal, chairman of Bikaji Foods, started a new business by breaking away from his grandfather Haldiram Agarwal’s family business of making Bhujia. Haldirams is the largest company in the country in terms of salty snacks. The best selling product of Bikaji Foods is Bhujia Namkeen. Bikaji Foods is the largest manufacturer of Bikaneri Bhujia in the country and is one of the top 3 companies in manufacturing of Namkeen Snack. The brand ambassador of its products is Amitabh Bachchan.
Tags: IPO, Share allotment, Share market, Stock Markets, IPO
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