Bikaji Foods IPO subscribed 26.67 times on last day of offer

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The Rs 881.22-crore IPO received bids for 55,04,00,900 shares against 2,06,36,790 shares on offer, as per data available with the NSE

New Delhi: The initial public offering of Bikaji Foods International was subscribed 26.67 times on Monday, the last day of subscription.

The Rs 881.22-crore IPO received bids for 55,04,00,900 shares against 2,06,36,790 shares on offer, as per data available with the NSE.

The quota meant for Qualified Institutional Buyers (QIBs) received 80.63 times subscription, while the non-institutional investors category was subscribed 7.10 times and Retail Individual Investors (RIIs) was subscribed 4.77 times.

The Initial Public Offering (IPO) is a pure Offer For Sale (OFS) of up to 2,93,73,984 equity shares.

The price range for the offer is at Rs 285-300 a share.

On Thursday, Bikaji Foods International Ltd. said it has mobilised Rs 262 crore from anchor investors.

Since the IPO is completely an OFS, the company will not receive any proceeds from the issue.

Bikaji is the largest manufacturer of Bikaneri bhujia with an annual production of 29,380 tonnes and is a leading maker of packaged ‘rasgulla’, ‘soan papdi’ and ‘gulab jamun’.

Axis Capital, Intensive Fiscal Services, JM Financial, IIFL Securities and Kotak Mahindra Capital are the managers to the offer.

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