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Goldman Sachs wants to munch on Bikaji snacks as well

Goldman Sachs wants to munch on Bikaji snacks as well

Goldman Sachs wants to munch on Bikaji snacks as well
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By CNBCTV18.com Nov 17, 2022 11:00:05 AM IST (Published)

Bikaji Foods made its market debut on Wednesday at a premium of 8 percent to the issue price of Rs 300 per share on BSE.

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Shares of traditional snacks company Bikaji Foods International traded gained as much as 3 percent in early trading on Thursday after Goldman Sachs acquired a stake in the company.
Through its India Equity Portfolio, Goldman Sachs acquired 17.4 lakh shares in Bikaji Foods through an open market transaction at Rs 324.5 each. The transaction was valued at nearly Rs 56 crore.
Bikaji Foods listed on the bourses on Wednesday, at a premium of 8 percent to its issue price of Rs 300. Shares ended their trading debut with gains of over 6 percent.
The Rs 881.22-crore initial public offering (IPO) of Bikaji Foods International was subscribed 26.67 times last week.
In the last 3-4 years, Bikaji Foods has been logging a compounded annual growth rate (CAGR) of 20-22 percent, its CFO, Rishabh Jain, told CNBC-TV18.
The company is looking at a double-digit margin in the six-month period ending March 2023, he said.
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'.
Shares of Bikaji Foods are trading 2.8 percent higher at Rs 328.30.
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