Bikaji Foods launched an initial public offering (IPO) on Thursday, to raise up to Rs 881 crore. Rajasthan-based FMCG company Bikaji's IPO is entirely an offer for sale (OFS) by existing shareholders — which means the firm will not receive any proceeds from the issue. Bikaji Foods shares will be available for bidding between 10 am and 5 pm for three trading days till November 7.

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Here are some important things to know about the Bikaji Foods IPO:

Important dates:

The listing of shares on stock exchanges BSE and NSE is likely on November 16, following the finalisation of the basis of allotment on November 11.

Issue price: Potential investors will be able to bid for Bikaji Foods shares in a price band of Rs 285-300 apiece under the IPO.

Lot size: Bidding will be possible in multiples of 50 shares — which translates to Rs 14,250-15,000 per lot.

Investor categories: Out of the total issue, 50 percent is reserved for qualified institutional buyers, 15 percent for high net worth individuals and the remaining 35 percent for retail investors.

Should you subscribe to Bikaji Foods' IPO?

According to Angel One, Bikaji's post-issue price-to-earnings multiple works out to be 98.5 times earnings per share for the year ended March 2022, which is in line with peers such as Prataap Snacks, Nestle India and Britannia Industries.

First Published:Nov 3, 2022 7:44 AM IST