Bikaji Foods is one of India’s largest fast-moving consumer goods (FMCG) brands with an international footprint, selling Indian snacks and sweets, and is amongst the fastest growing companies in the Indian organised snacks market. In Fiscal 2021, it was the largest manufacturer of Bikaneri bhujia with annual production of 26,690 tonnes, and it was the second largest manufacturer of handmade papad with an annual production capacity of 9,000 tonnes.
Bikaji Foods is also one of the largest manufacturers of packaged rasgulla with the annual capacity of 24,000 tonnes and one of the largest manufacturers of Soan Papdi and Gulab Jamun with annual capacity of 23,040 tonnes and 12,000 tonnes respectively. In the six months ended 30 September 2021, it sold more than 250 products under the Bikaji brand.
Over the years, the company has established market leadership in the core states of Rajasthan, Assam and Bihar with an extensive reach. It has gradually expanded its footprint across India, with operations across 23 states and 3 union territories as of June 30, 2022.
In the six months ended June 30, 2022, The company has exported the products to 21 international countries, including North America, Europe, the Middle East, Africa, and Asia Pacific, representing 3.20% of total sales of food products in such period.
Bikaji Foods International Limited has six operational manufacturing facilities, with four facilities located in Bikaner (Rajasthan), one in Guwahati (Assam), one facility in Tumakuru (Tumkur) (Karnataka) which is held through the subsidiary Petunt Food Processors Private Limited to cater to the southern markets in India.
Promoters of Bikaji Foods
Shiv Ratan Agarwal
Shiv Ratan Agarwal (HUF) and
Deepak Agarwal (HUF)
Financials (rounded off)
Total Revenue (₹ in cr)
PAT (₹ in cr)
Objective of the Issue
The issue is an OFS. The Selling Shareholders will be entitled to the entire proceeds of the Offer after deducting the Offer expenses and relevant taxes thereon. The Company will not receive any proceeds from the Offer.
Bikaji Foods IPO Details
IPO Price Band
₹285 to ₹300 per share
IPO Lot Size
Basis of Allotment
Credit of Shares in Demat
Retail Minimum Lot Size
50 shares (₹15,000)
1) The company is one of the most recognizable BHUJIA brands in the country.
2) GMP is currently around ₹75.
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