This week will be full of updates for investors. Upcoming IPOs of 4 companies will open this week. Among them is Bikaji Foods Company, which produces the largest number of Bikaneri Bhujias in the country. The company’s IPO is opening on November 3. Amitabh Bachchan is the brand ambassador of this company. Let’s know more about this IPO-
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What is GMP?
According to the IPOwatch website, on Sunday, the company was trading at a premium of Rs 90 in the gray market (GMP). However, Bikaji Foods is yet to announce the price band for its IPO. We tell you, investors who bet on this company’s IPO will have time till 7 November 2022.
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Bikaji seeks to raise Rs 1,000 crore through IPO. Apart from this, the promoters of the company will bring an offer for sale of 2.94 crore shares. All these shares will be available under the offer for sale. Shiv Ratan Agarwal, Deepak Agarwal, Maharaja of India 2020, Intensive Softshares and IIFL Opportunities will be part of this IPO under the Offer for Sale.
The company has reserved 50 percent of the IPO for qualified institutional buyers. At the same time, 15 percent is reserved for NII and 35 percent for retail investors. Lead managers of the IPO are JM Financial, Axis Capital, IIFL Securities, Intensive Fiscal Securities and Kotak Mahindra Capital Company. The company will be listed on both NSE and BSE.
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Let us tell you, Bikaji is the third largest snack manufacturer in India. Apart from India, the company has left its mark on foreign soil as well. In terms of growth, it is the second fastest growing company in the Indian organized snacks market.