Bikaji Foods International IPO
Bikaji Foods International Limited (BIKAJI) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 16 November 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +23.8% (likely range +17% to +24%), day's high +32.8%, chance of a gain 92%. Actual: +7.6% at the open, +11.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 58,24,797 | 46,96,63,900 | 80.6x | |
| NII (HNI) total | 43,68,598 | 3,10,03,150 | 7.10x | |
| Big NII (above ₹10 lakh) | 29,12,398 | 2,17,65,750 | 7.47x | |
| Small NII (₹2-10 lakh) | 14,56,200 | 92,37,400 | 6.34x | |
| Retail | 1,01,93,395 | 4,86,40,050 | 4.77x | |
| Employees | 2,50,000 | 10,94,100 | 4.38x | |
| Total | 2,06,36,790 | 55,04,01,200 | 26.7x |
Bids on NSE and BSE together, as published by NSE, as of 07 Nov 2022, 07:00 PM. Shares offered exclude the anchor portion. 8% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Bikaji Foods International's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Syrma SGS TechnologyAug 2022 | 87.6x | 17.5x | 5.53x | 32.6x | ₹911 Cr | +18.2% | +41.8% |
| Campus ActivewearApr 2022 | 152x | 22.3x | 7.68x | 51.8x | ₹1,400 Cr | +23.3% | +43.1% |
| Rainbow Childrens MedicareApr 2022 | 38.9x | 3.73x | 1.38x | 12.4x | ₹1,581 Cr | -5.9% | -4.5% |
| Electronics Mart IndiaOct 2022 | 62.3x | 24.5x | 12.8x | 29.4x | ₹527 Cr | +52.5% | +54.2% |
| PB FintechNov 2021 | 24.9x | 7.82x | 3.31x | 16.6x | ₹6,224 Cr | +17.4% | +27.4% |
| Larsen & Toubro InfotechJul 2016 | 19.9x | 10.8x | 7.39x | 11.7x | ₹1,242 Cr | -6.1% | 0.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| Intensive Fiscal Services | 11 | +28.6% | 82% |
| JM Financial | 109 | +22.8% | 75% |
| IIFL Securities | 94 | +19.3% | 71% |
| Kotak Mahindra Capital | 83 | +20.8% | 76% |
Offer documents (NSE)
Frequently asked
What is the Bikaji Foods International IPO price band and lot size? ₹285–300 per share, with a lot of 50 shares, so the smallest retail bid is ₹15,000.
How many times has it been subscribed? 26.7x overall: QIB 80.6x, NII 7.10x, retail 4.77x, employees 4.38x.
How did it list? It opened at ₹323, +7.6% against the issue price of ₹300, and closed its first day +5.8%.
