Bikaji Meals IPO GMP Subscription Standing As we speak: The preliminary public providing (IPO) of snacks and sweets maker Bikaji Meals Worldwide was subscribed 26.67 occasions on the ultimate day, in accordance with the information obtainable on the BSE.
The Rs 881 crore provide obtained bids for somewhat over 55.04 crore (55,04,00,900) shares towards the difficulty dimension of over 2.06 crore (2,06,36,790) shares, the information confirmed.
The shares that are to be allotted for the certified institutional consumers (QIBs) was subscribed 80.63 occasions, whereas the portion for non institutional traders was subscribed 7.10 occasions and that of retail particular person traders (RIIs) was subscribed 4.77 occasions, the information confirmed. Aside from them, the staff’ section was subscribed 4.38 occasions.
Bikaji Meals IPO is only an offer-for-sale (OFS) of 29,373,984 fairness shares by its promoters and present shareholders. The corporate won’t obtain any proceeds from the difficulty.
The three-day IPO opened for subscription on Thursday, November 3, 2022, and concluded at 5 pm right this moment. It has a value band of Rs 285-300 per share.
Forward of the IPO, the snacks maker raised over Rs 262 crore (Rs 2,62,11,58,200) from 36 anchor traders.
Bikaji Meals Worldwide is the third largest ethnic snacks firm in India with a global footprint, promoting Indian snacks and sweets, and are the second quickest rising firm within the Indian organised snacks market. The corporate claimed they had been largest producer of Bikaneri bhujia with annual manufacturing of 29,380 tonnes in Fiscal 2022 (FY22) and through the identical interval they had been additionally the second largest producer of handmade papad with an annual manufacturing capability of 9,000 tonnes.
Aside from snacks, the corporate can be a number one maker of packaged rasgulla, soan papdi and gulab jamun.
Going forward, traders will now look ahead to the share allotment date of the difficulty. The finalisation of the premise of allotment for Bikaji Meals Worldwide is anticipated on Friday, November 11, 2022, as per the knowledge offered within the purple herring prospectus (RHP).