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Bikaji Foods International IPO subscribed 27 times on final day

Bikaji Foods International IPO subscribed 27 times on final day

Bikaji Foods International IPO subscribed 27 times on final day
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By Sandeep Singh  Nov 9, 2022 7:50:18 AM IST (Updated)

Potential investors could bid for Bikaji Foods shares in a price band of Rs 285-300 apiece in multiples of 50 under the IPO. Bikaji Foods shares are likely to be listed on stock exchanges BSE and NSE on November 16.

Snacks maker Bikaji Foods International's IPO, worth up to Rs 881 crore, secured a subscription of 26.7 times on Monday, the third and final day of the bidding process. By the end of the day, the IPO of Bikaji Foods — a Rajasthan-based FMCG company — received bids for 55 crore shares against the 2.1 crore shares on offer, with a robust response from qualified institutional buyers, according to provisional exchange data.

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The IPO's subscription window was open for three trading days between 10 am and 5 pm. The initial share sale was entirely an offer for sale by existing shareholders — which means the company will not receive any proceeds from the issue.
Bikaji Foods shares are likely to be listed on bourses BSE and NSE on November 16.
Potential investors could bid for Bikaji Foods International shares in a price band of Rs 285-300 apiece in multiples of 50 under the IPO — which translates to Rs 14,250-15,000 per lot.
The IPO of one other company concluded on the same day: Global Health (Medanta).
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