Latest News | Bikaji Foods IPO Subscribed 1.48 Times on Day 2

New Delhi, Nov 4 (PTI) The initial share-sale of Bikaji Foods International was subscribed 1.48 times on the second day of offer on Friday.

The Rs 881.22-crore IPO received bids for 3,04,44,000 shares against 2,06,36,790 shares on offer, according to NSE data.

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The category meant for Retail Individual Investors (RIIs) was subscribed 2.33 times, non-institutional investors received 1.42 times subscription and Qualified Institutional Buyers (QIBs) quota got subscribed 3 per cent.

The Initial Public Offering (IPO) is a pure Offer-For-Sale (OFS) of up to 2,93,73,984 equity shares.

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The price range for the offer is at Rs 285-300 a share.

Bikaji Foods International Ltd has mobilised Rs 262 crore from anchor investors.

The company's initial share-sale will conclude on November 7.

Since the IPO is completely an OFS, the company will not receive any proceeds from the issue.

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'.

Axis Capital, Intensive Fiscal Services, JM Financial, IIFL Securities and Kotak Mahindra Capital are the managers to the offer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)