Bikaji Foods International has filed a draught red herring prospectus (DRHP) with the market regulator Sebi for an initial public offering (IPO). The company is expected to raise roughly Rs 1,000 crore, according to market sources.
The offer for sale (OFS) of up to 29,373,984 shares by current shareholders and promoter group entities constitutes the entirety of the offering. The corporation will not benefit financially from the offering. Avendus, IIFL Asset Management, Intensive Softshare, Axis Asset Management, and Lighthouse Funds are among its shareholders. Only the first three, along with a few other stockholders, are selling their stakes.
Bikaji claims to be the largest maker of Bikaneri bhujia, with a capacity of 26,690 tonnes per year, and the second-largest manufacturer of handcrafted papad, with a capacity of 9,000 tonnes per year in FY21.
