Bikaji Foods IPO Share itemizing Today: Bikaji Foods makes a agency debut, lists at over 7% premium over concern value

Bikaji Foods IPO Listing Price: Shares of snacks and sweets maker Bikaji Foods International debuted on a agency observe and acquired listed at a premium of over 7 per cent from their concern value within the inventory exchanges at this time.

The scrip acquired listed at Rs 322.80 apiece on the National Stock Exchange (NSE), thereby registering a achieve of seven.60 per cent from its provide value of Rs 300.00, whereas on the BSE, it opened at Rs 321.15, up 7.05 per cent from the difficulty value.

The inventory additional rose from its opening ranges and touched a excessive of Rs 335.00 on the BSE and Rs 334.70 on the NSE throughout the first half-hour of commerce.

At 10:30 am, the scrip was buying and selling at Rs 324.35 on the BSE, up 8.12 per cent from the difficulty value whereas on NSE it was at Rs 327.35, up 9.12 per cent. The market capitalisation stood at Rs 8,101.59 crore, knowledge from the BSE confirmed.

Over 1.55 crore shares of Bikaji Foods had been traded thus far on NSE whereas round 7.86 lakh shares have exchanged palms on the BSE, knowledge from the respective inventory alternate confirmed.

Bikaji Foods International is the third largest ethnic snacks firm in India with a world footprint, promoting Indian snacks and sweets, and are the second quickest rising firm within the Indian organised snacks market. The firm claimed they had been largest producer of Bikaneri bhujia with annual manufacturing of 29,380 tonnes in Fiscal 2022 (FY22) and through the identical interval they had been additionally the second largest producer of handmade papad with an annual manufacturing capability of 9,000 tonnes.

Apart from snacks, the corporate can also be a number one maker of packaged rasgulla, soan papdi and gulab jamun.

Commenting on the itemizing, Pravesh Gour, Senior Technical Analyst, Swastika Investmart, mentioned, “The issue had received a good response from investors on both the institutional as well as retail side. Nevertheless, the company’s margins are on the declining side and a P/E valuation of 95.2 looks expensive. Therefore, we advise only aggressive investors should consider making a long-term commitment to the company. Those who applied for listing gains can maintain a stop loss of Rs 310.”