The packaged snack maker debuted at a 7% premium at Rs 321.15 over the issue price given on BSE.
Prior to listing on Dalal Street, shares of Bikaji Foods International were trading at a premium of Rs 25-30 in the gray market, signaling a decent listing pop for investors.
Bikaji Foods is India’s third largest ethnic snack company. The Company’s product line includes six main categories: bhujia, namkeen, wrapped candy, papad and western snacks, among others.
The company’s Rs 881 crore IPO was sold at Rs 285-300 per share and received a strong response from investors. It was subscribed more than 26.67 times between November 3 and 7.
The quota reserved for qualified institutional buyers (QIB) was subscribed 80.6 times while those reserved for non-institutional investors (NII), traders and employees were subscribed 7.1 times, 4.77 times and 4.38 times respectively. time.
Its operating income increased by 23% to Rs 1,610.96 crore in FY22 from Rs 1,310.75 crore a year ago. For the three months ending June 30, operating revenue amounted to Rs 419.16 crore, with a net profit of Rs 15.7 crore.