HomeLifestyleBikaji Foods Share spoils the taste of investors, breaks up to 6%...

Bikaji Foods Share spoils the taste of investors, breaks up to 6% in intraday due to selling – bikaji foods fall 6 percent in intraday due to heavy selling – News18 Hindi

highlights

Bulk deal happened in Bikaji Foods shares on NSE.
Goldman Sachs Funds- Goldman Sachs India Equity Portfolio bought 1.74 million shares.
Bikaji Foods shares were listed on BSE on Wednesday at a price of Rs 322.80.

Mumbai. Shares of Bikaji Foods International fell badly on Friday. On November 16, the company’s stock was listed at Rs 321.15 on the NSE and Rs 322.80 on the BSE in the stock market with a premium of 7 per cent, but today it fell by 6 per cent during early trade in the market.

On November 18, Bikaji Foods shares fell almost 6 per cent to Rs 303.05 in intraday on BSE. With this fall, the stock has lost 9.5 per cent from its high of Rs 334.70. Today, the share of Bikaji Foods closed at Rs 317 on BSE with a decline of about one and a half per cent.

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17.4 lakh shares traded in bulk deal
According to NSE’s bulk deal data, on November 16, Goldman Sachs Funds – Goldman Sachs India Equity Portfolio bought 17.4 lakh shares of Bikaji Foods at Rs 324.50. However, the name of the seller was not disclosed.

The IPO of Bikaji Foods received a good response from investors and the issue was subscribed 26.67 times. The highest bid in this IPO was made by Qualified Institutional Buyers (QIB). At the same time, 4.77 times bids were received in the reserve portion for retail investors.

What is the business of the company?
Bikaji Foods International is the third largest snacks company in India and an established name in this market. The company has a strong distribution network across the country. The IPO of Bikaji Foods had only Offer for Sale (OFS). In the offer for sale, 2.93 crore shares were sold by promoters and existing shareholders.

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The company’s revenue has increased during the financial year 2020-22. Its Ebitda and PAT margin declined by 8.7 per cent and 4.8 per cent respectively. With new capacity additions and new facilities coming up in Rajasthan and Bihar, the company is bullish on maintaining a revenue CAGR of over 20 per cent for the next 3-4 years. In addition, low capital expenditure and price increases to maintain 30 per cent gross margin are expected to drive strong profitability and cash flow.

Tags: IPO, multibagger stocks, stock market today

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