Bikaji Foods IPO gets 67% subscription on Day-1
The initial share-sale of Bikaji Foods International was subscribed 67 per cent on the first day of offer on Thursday.
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New Delhi: The initial share-sale of Bikaji Foods International was subscribed 67 per cent on the first day of offer on Thursday.
The initial public offering (IPO) of the manufacturer of snacks and sweets got bids for 1,38,43,650 shares against 2,06,36,790 shares on offer, as per details available with the NSE. Retail Individual Investors (RIIs) portion received 1.09 times subscription, non-institutional investors was subscribed 58 per cent and Qualified Institutional Buyers (QIBs) 1 per cent.
The IPO is a pure Offer-For-Sale (OFS) of up to 29,373,984 equity shares and has a price range of Rs 285-300 a share. Bikaji Foods International Ltd has mobilised Rs 262 crore from anchor investors.
The company's initial share-sale will conclude on November 7. Since the IPO is completely an OFS, the company will not receive any proceeds from the issue.
