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Bikaji Foods IPO: You can bid from today, is it a profitable deal to invest money in it? Know the opinion of the brokerage

Highlights

Bikaji manufactures Bhujia, Namkeen, Packaged Sweets, Papad, Western Snacks and other snacks and cookies.
The firm is one of the largest organized Namkeen Snacks and Sweets manufacturing and marketing companies.
The company was established in 1986. The shares will be allotted on November 11.

New Delhi. The Initial Public Offer (IPO) of Bikaji Foods International, the third largest snacks company in India has been launched today on 3rd November. The price band of this IPO of Rs 881.22 crore is Rs 285-300. Bikaji Foods IPO is getting good response in the gray market and its shares are trading at a premium. There is only Offer for Sale (OFS) in Bikaji Foods IPO. 2.93 crore shares will be sold by the promoter and existing shareholders in the offer for sale.

Bidding for the IPO can be done till November 7. The shares will be allotted on November 11 and refunds will start from November 14. The shares are likely to be listed on BSE and NSE on November 16. The lot size of Bikaji Foods IPO is 50 shares and a retail investor can apply up to 13 lots. To apply for one lot of IPO one will have to spend Rs 15,000.

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Brokerage gave subscribe rating
According to a report in Live Mint, brokerage Geojit has given subscribe rating to Bikaji Foods IPO. The brokerage wrote in the IPO note, “The company is continuously growing and is the leading company in its sector. The company intends to expand further in the future and is also continuously launching new products. There is a lot of potential in the future in the packaged food business. Keeping this in view, we are giving it a subscribe rating.

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Abhay Doshi, co-founder of Unlisted Arena, says, “Bikaji Foods is an established name in the snacks market. Bikaji has a strong distribution network across India. Good growth is coming in the top line. However, there is pressure on the bottom line. This issue looks very expensive.

Bikaji Foods GMP
According to market observers, the shares of Bikaji Foods are trading at a premium of Rs 52 in the gray market today. Yesterday, its GMP was Rs 72. According to this gray market, the shares of Bikaji Foods can be listed at Rs 352 level. However, it is not necessary that if the shares of an IPO are trading at a premium in the gray market, then its listing in the stock exchanges should also be at a premium.

(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you wish to invest in any of these, please consult a Certified Investment Advisor first. News18 is not responsible for any profit or loss caused by you. Will happen.)

Tags: business news, Business news in hindi, IPO, Money Making Tips, stock market, Stock tips

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