Snacks and sweets maker Bikaji Meals Worldwide Ltd’s preliminary public providing (IPO) opened for subscription on November 3. The IPO witnessed full subscription on the second day. The preliminary public providing of Bikaji Meals Worldwide was subscribed to 26.67 occasions on Monday, the final day of subscription. The Rs 881-crore IPO obtained bids for 55,04,00,900 shares towards 2,06,36,790 shares on supply, as per information out there with the NSE.
Bikaji Meals IPO GMP
At present, the shares of Bikaji Meals Worldwide Ltd can be found at Rs 38 within the gray market.
The finalization of the premise of share allotment of Bikaji Meals IPO is anticipated to happen this week on Friday, November 11, 2022, and if allotted, then the credit score of shares to the Demat account of bidders might be achieved subsequent week on Tuesday, November 15, 2022. The registrar for this IPO is Hyperlink Intime India Personal Ltd, subsequently the allotment utility could be checked on the registrar’s web site right here or on the BSE web site right here.
Bikaji Meals IPO: Difficulty Worth
Below the IPO, traders will be capable to purchase shares of Bikaji Meals in a worth band of Rs 285 to Rs 300 per piece.
Bikaji Meals IPO: Lot Worth
Bikaji Meals shares can be found in loads of 50. Which means it’s going to value between Rs 14,250 and Rs 15,000 for traders to purchase one lot.
Bikaji Meals has geared toward mobilizing Rs 881.22 crore via the IPO. Its IPO opened for the subscription till November 3 and the bidding will proceed until November 7. The allotment is scheduled for November 11 whereas the refund initiation will happen on November 14. The itemizing will probably occur on November 16.
About Bikaji Meals
Bikaji Meals is the third-largest ethnic snack-making firm in India which has a presence within the worldwide markets as properly. Bikaji Meals can be the second fastest-growing firm within the organised snacks market. It operates in a complete of 23 states and 4 Union Territories whereas additionally exports merchandise to different international locations.
For Bikaji Meals, most of its enterprise contribution comes from bhujia and namkeen. The 2 segments accounted for roughly 70 per cent of the income. These are adopted by packaged sweets which have a contribution of 13 per cent within the complete gross sales.
The namkeen and sweets makers witnessed a compound annual progress charge of twenty-two.44 per cent in income from operations throughout FY20-FY22.
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