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31/10/2022 10:30

Bikaji Foods Inter announces launch of initial public offering

Bikaji Foods International Ltd. has announced public offering of 29373984 shares at a price of Rs 1.00 each for Cash at a Premium of Rs 299.00 per share. The gross proceeds of the issue are expected to be Rs 88,121.95 lakhs.

The company's initial public offer (IPO) will open on 03 November 2022 and is expected to close on 07 November 2022, subject to customary closing conditions. The price band of the issue has been fixed at Rs 285.00-300.00 per share.

The IPO includes a fresh Issue of 29373984 Equity Shares of the Company at an price of Rs 300.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 50 shares with bids in multiples of 50.

Bikaji Foods International Ltd. anticipates using the proceeds of the issue for .

Axis Capital Ltd.,Kotak Mahindra Capital Company Ltd.,JM Financial Ltd.,IIFL Securities Limited,Intensive Fiscal Services Private Limited. as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.