Bikaji Foods International, a company that makes sweets and snacks, is coming up with its IPO of Rs 1,000 crore.
Bikaji Foods IPO: Bikaji Foods International, a company that makes sweets and snacks, is coming up with its IPO. The company is about to file a draft Red Herring Prospectus to bring an IPO (Intial Public Offering) with the stock market regulator SEBI. It is believed that it is planning to raise Rs 1,000 crore from the market for the IPO. Through this IPO, the company is expected to get a valuation of one billion dollars i.e. Rs 7500 crore.
JM Financial to bring Bikaji Foods International IPO of Rajasthan. IIFL Securities has been appointed as the banker for the IPO. The IPO will mainly sell stake by existing investors for Offer for Sale.
Private equity companies Lighthouse Funds, IIFL, Avendus and Axis have investments in Bikaji Foods International. Bikaji Foods has six manufacturing plants in Rajasthan, Assam, Karnataka. Bikaji Foods manufactures Bhujia, Namkeen, Papad, Sweets besides Frozen Foods items. The company's promoters Shiv Ratan Agarwal and Deepak Agarwal held 78.8 per cent stake at the end of the 2020 financial year.
It is believed that the company will execute the expansion plan with the money raised from the IPO as well as launch new products. At the end of the 2020 financial year, the company's revenue stood at Rs 1073 crore. Namkeen accounted for 37 percent of the total sales of the company, 32 percent of Bhujia, 14 percent of sweets and 10 percent of papads. Ready to eat snacks market is growing rapidly in India. It is believed that between 2021 and 2025, it will grow at the rate of 8.9 percent annually.
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