The window for subscription closed on November 7.
New Delhi:
The Rs 881-crore preliminary public supply of Bikaji Meals Worldwide has acquired an encouraging response from traders, as the difficulty was subscribed 26.67 occasions.
The snack firm was providing shares within the worth vary of Rs 285-Rs 300.
The preliminary supply consists of over 2.9 crore shares of face worth of Re 1 every. It’s a suggestion on the market by promoters and present shareholders. The corporate is not going to obtain any proceeds from the supply.
The window for subscription closed on November 7.
In response to the information accessible with the NSE, the share sale supply acquired 55,04,01,200 bids towards 2,06,36,790 shares on supply.
The portion reserved for retail traders has been subscribed 4.77 occasions. Retailer traders have bid for 4,86,40,050 shares towards 1,01,93,395 on supply.
Certified institutional traders have bid for 46,96,63,900 shares as towards 58,24,797 on supply. In different phrases, this portion was subscribed 80.63 occasions, which displays the better curiosity proven by monetary establishments, banks and mutual funds.
The portion reserved for non-institutional traders was subscribed 7.10 occasions as 3,10,03,150 bids got here in for 43,68,598 shares supplied.
Bikaji Meals has reserved 2,50,000 shares for workers. Eligible staff can avail of a reduction of Rs 15 per fairness share. The staff portion was subscribed 4.38 per cent.
Bikaji Meals within the Crimson Herring Prospectus has mentioned: “We’re the third-largest ethnic snacks firm in India with a global footprint, promoting Indian snacks and sweets, and are the second-fastest rising firm within the Indian organised snacks market.”
Its product vary consists of bhujia, namkeen, packaged sweets, papad, western snacks in addition to different snacks which primarily embrace reward packs (assortment), frozen meals, mathri vary and cookies.
Within the three months ended June 30, 2022, the corporate bought greater than 300 merchandise below the Bikaji model. It earned a revenue of Rs 76 crore on a income of Rs 1,610 crore within the monetary 12 months 2021-22.
(Aside from the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
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