Bikaji Foods IPO: GMP, subscription status, other details. Should you apply?

Bikaji Foods IPO: The initial public offer (IPO) of Bikaji Foods International Ltd is open for subscription and it will remain open for bidding till 7th November 2022. After day one of subscription, Bikaji Foods IPO subscription status informs that public issue has been subscribed 0.67 times whereas its retail portion has been subscribed 1.10 times. Meanwhile, Bikaji Foods IPO grey market premium (GMP) has further dipped to ₹27. According to market observers, shares of Bikaji Foods to ₹International are still available at a premium of ₹but due to negative sentiments on Dalal Street, its has dipped from ₹in last two days.

Here we list out important Bikaji Foods IPO details

– Bikaji Foods IPO GMP: Shares of Bikaji Foods are available at a premium of ₹27, which is ₹25 lower from its Thursday GMP of ₹52 and ₹43 lower from its Wednesday GMP of ₹70.

– Bikaji Foods IPO subscription status: On day 2 of bidding till 10:28 AM, Bikaji Foods IPO was subscribed 0.82 times whereas its retail portion has been subscribed 1.35 times.

– Bikaji Foods IPO price band: Company has fixed price band of the IPO at ₹285 to ₹300 per equity share

– Bikaji Foods IPO subscription date: The public issue opened for subscription on 3rd November 2022 and it will remain open for bidding till 7th November 2022.

– Bikaji Foods IPO size: Company aims to raise ₹881.22 crore from the public issue.

– Bikaji Foods IPO lot size: A bidder will be able to apply in lots and one lot will comprise 50 shares of the company.

– Bikaji Foods IPO allotment date: The public issue is most like to announce share allotment on 11th November 2022.

– Bikaji Foods IPO listing: The IPO is proposed for listing on both NSE and BSE.

– Bikaji Foods IPO listing date: The initial offer is likely to list on 16th November 2022.

– Bikaji Foods IPO review: Speaking on Bikaji Foods IPO, Abhay Doshi, Co-founder at UnlistedArena said, “Bikaji Foods is an established name in the ethnic snacks market. Bikaji has large pan India distribution network. The top line has grown reasonably. However, margin pressure scaled back the bottom line. On the valuation front, the asking p/e at the upper band is around 95x while P/BV is around 9 times. The issue looks richly priced.”

Giving ‘subscribe’ tag to Bikaji Foods IPO, brokerage firm Geojit said, “Considering its consistent top-line growth, industry leading position, future expansion plans, new product launches, investments in strengthening the brand recall and good future prospects for the packaged food business, we assign a “Subscribe” rating on a short -term basis for high-risk investors.”



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