Thursday, November 3, 2022

Anchor investors contribute Rs 262 crore to Bikaji Foods


Bikaji Foods raises Rs 262 crore from anchor investors

NEW DELHI: Maker of tidbits and desserts Bikaji Food varieties Worldwide Ltd has assembled Rs 262 crore from anchor financial backers.

The organization's underlying offer deal is open for public membership from Thursday and will finish up on November 7.

The firm has chosen to designate 87.37 lakh value offers to moor financial backers at Rs 300 each, collecting the exchange size to Rs 262.11 crore, as indicated by a round transferred on BSE's site on Thursday night.

Eastspring Speculations, BNP Paribas, Morgan Stanley, Legislature of Singapore, Nomura, BlackRock, Goldman Sachs, Goodbye Common Asset (MF), Aditya Birla Sun Life MF, ICICI Prudential MF, WhiteOak Capital, Kotak MF, HDFC MF and Edelweiss MF are among the anchor financial backers.

The Initial public offering will be an unadulterated proposition available to be purchased (OFS) of around 2.94 crore value shares by its advertisers and existing investors. Both the advertisers - - Shiv Ratan Agarwal and Deepak Agarwal - - are hoping to offload up to 25 lakh organization shares each.

Different substances that will sell their portions are - - India 2020 Maharaja, Ltd; Serious Softshare Pvt Ltd; IIFL Exceptional Open doors Assets and Avendus Future Pioneers Asset I.

The issue, with a value band of Rs 285-300 an offer, will open for public membership on November 3 and close on November 7.

Since the Initial public offering is totally an OFS, the organization won't get any returns from the issue. At the upper finish of the value, the Initial public offering is supposed to get Rs 881.22 crore.

Financial backers can offer for at least 50 value shares and in products of 50 value shares from that point.

Bikaji is the biggest producer of Bikaneri bhujia with yearly creation of 29,380 tons and is a main creator of bundled rasgulla, soan papdi and gulab jamun.

Going by the draft paper, the Bikaneri bhujia was given the geological ID (GI) tag in 2010, since it is a famous bungalow industry of Bikaner, giving work to a huge gathering in the locale. In all honesty, the enlisted clients are permitted to utilize the name of 'Bikaneri bhujia' as a conventional item.

JM Monetary, Hub Capital, IIFL Protections, Concentrated Financial Administrations and Kotak Mahindra Capital Organization are the book running lead administrators to the issue.

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