Snacks major, Bikaji Foods launched an initial public offering (IPO) on Thursday (today) in a bid to get listed on the Indian exchanges. The company aims to raise up to Rs 881 crore.

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The Rajasthan-based FMCG company is likely to see the listing of shares on stock exchanges (BSE and NSE) on November 16, following the finalisation of the basis of allotment on November 11.

In an exclusive interview with CNBC-TV18, the management spoke about the road ahead for the company and their growth path. The company is banking on its basket of Indian edible products and wants to ride the lack of competition from multinationals.

“We are in categories like sweets, namkeen, papad. Sweets and papad are not a forte for MNCs or other companies. It requires special skill and experience and the legacy that we have – and the unorganised market is still very high. In sweets, only 10 percent is organised. We are expecting a big revolution in the next 10-15 years in sweets as well as in the savouries market,” said Deepak Agarwal, MD of the company.

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Bikaji also has expansion plans, especially in north Indian states where it is not in dominant positions. The company in the last 18 months has expanded from its one plant in Bikaner.

and Rishabh Jain, CFO, Bikaji Foods InternationalDeepak Agarwal, MD

"Rajasthan, Assam and Bihar – these three are core markets where we have leadership... We have started focusing on four states in North India, Uttar Pradesh, Delhi, Haryana, Punjab, and 2 states in the south, Karnataka and Telangana," said Rishabh Jain, CFO, at Bikaji Foods.

“In the past two years we have done major expansion across all parts of India. So, we can comfortably do Rs 3,000-3,500 crore of asset turnover ratio,” the CFO added.

(Edited by : Abhishek Jha)