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Newly listed company Bikaji Foods gained close to 6 per cent on Thursday after Goldman Sachs Fund bought a stake in it. Its shares reached an intraday high of ₹ 334.70 apiece and were trading at ₹ 321.25 apiece at 01:05 PM on Thursday. 

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Bikaji Foods International is India’s third-largest ethnic snack company. Its product range includes six main categories: bhujia, namkeen, packaged sweets, papad, and western snacks among others. 

According to information available on the National Stocks Exchange (NSE), Goldman Sachs Fund has bought 17,45,354 equity shares of the company at an average price of ₹ 324.50 apiece. Therefore it has invested ₹56,63,67,373 (₹ 56.6 crores) in Bikaji Foods. These shares were bought in a bulk deal executed on November 16, 2022, i.e., the date when Bikaji Foods got listed. 

The packaged snack manufacturer received a strong investor response for its ₹ 811 crore IPO. Its shares were offered at ₹ 285 to ₹ 300 apiece and the issue was subscribed 26.67 times. 

Bikaji Foods International had a decent listing on the exchanges. It got listed at ₹ 322.80 apiece on the NSE, at a premium of 7.6 per cent over its issue price of ₹ 300. It got listed at ₹ 321.5 on the Bombay Stock Exchange (BSE), at a premium of 7.16 per cent. Its shares continued to escalate on day two of its listing. 

Its revenue from operations grew 23 per cent to ₹ 1,610.96 crores in FY22 against ₹ 1,310.75 crores a year ago. For the three months ending June 30, revenue from operations stood at ₹419.16 crores, with a net profit of ₹15.7 crores. 

Written by Simran Bafna 

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