Bikaji Foods shares settle nearly 6 pc higher in debut trade

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During the day, shares of Bijaki rallied 11.66 per cent to Rs 335 before finally settling at Rs 317.45, higher by 5.81 per cent

New Delhi: Shares of Bikaji Foods International Ltd ended the day nearly 6 per cent higher on its market debut on Wednesday against the issue price of Rs 300.

Earlier in the day, IndiaRetailing had reported that the stock listed at Rs 321.15, reflecting a gain of 7 per cent against the issue price on the BSE.

During the day, it rallied 11.66 per cent to Rs 335. The stock finally settled at Rs 317.45, higher by 5.81 per cent.

At the NSE, shares of the firm debuted at Rs 322.80, climbing 7.6 per cent and later ended at Rs 317.50, a gain of 5.83 per cent.

The company commanded a market valuation of Rs 7,920.69 crore on the BSE.

In traded volume terms, 20.96 lakh shares of the firm were traded at the BSE and over 2.74 crore at the NSE during the day.

The initial public offering (IPO) of Bikaji Foods International was subscribed 26.67 times last week.

The Rs 881.22-crore IPO had a price range of Rs 285-300 a share.

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’.

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