Bikaji Foods IPO subscription standing: Issue subscribed 26.67 occasions on remaining day led by QIBs

Bikaji Foods IPO GMP Subscription Status Today: The preliminary public providing (IPO) of snacks and sweets maker Bikaji Foods International was subscribed 26.67 occasions on the ultimate day, in keeping with the info accessible on the BSE.

The Rs 881 crore provide acquired bids for a little bit over 55.04 crore (55,04,00,900) shares towards the problem measurement of over 2.06 crore (2,06,36,790) shares, the info confirmed.

The shares that are to be allotted for the certified institutional patrons (QIBs) was subscribed 80.63 occasions, whereas the portion for non institutional buyers was subscribed 7.10 occasions and that of retail particular person buyers (RIIs) was subscribed 4.77 occasions, the info confirmed. Apart from them, the workers’ phase was subscribed 4.38 occasions.

Bikaji Foods IPO is solely an offer-for-sale (OFS) of 29,373,984 fairness shares by its promoters and present shareholders. The firm won’t obtain any proceeds from the problem.

The 3-day IPO opened for subscription on Thursday, November 3, 2022, and concluded at 5 pm right now. It has a worth band of Rs 285-300 per share.

Ahead of the IPO, the snacks maker raised over Rs 262 crore (Rs 2,62,11,58,200) from 36 anchor buyers.

Bikaji Foods International is the third largest ethnic snacks firm in India with a global 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 be a number one maker of packaged rasgulla, soan papdi and gulab jamun.

Going forward, buyers will now sit up for the share allotment date of the problem. The finalisation of the premise of allotment for Bikaji Foods International is predicted on Friday, November 11, 2022, as per the knowledge supplied within the crimson herring prospectus (RHP).