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.

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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.

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The IPO of one other company concluded on the same day: Global Health (Medanta).

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First Published:Nov 4, 2022 6:15 PM IST