Bikaji Foods International entered a steady debut on the bourses wherein the shares listed at Rs 322.80, an 8% premium to its issue price of Rs 300 apiece on the NSE. The stock traded at Rs 321.15 on the BSE. After the listing, the stock moved higher to Rs 335 on the BSE and Rs 334.70 on the NSE.

At 10:03 in the morning, Bikaji Foods traded at Rs 320.70, a 7% gain over its issue price. Till now, the stock hit a low of Rs 317.65. A combined Rs 8.7 million equity shares changed hands at the NSE and BSE.

The Rs 881 crore IPO of Bikaji Foods received a good response from investors, with the issue of being subscribed 26.67 times. The Qualified Institutional Buyers (QIBs) category received 80.63 times subscription, while the Non-Institutional Investors (NICs) quota got subscribed 7.10 times. The retail individual investors’ portion booked 4.77 times.

Bikaji Foods holds a growing domestic and global presence with a well-diversified product basket of 300-plus products. Namkeen is considered the highest-selling category, accompanied by bhujia, sweets, papad and others, contributing 35.6%, 34.9%, 12.7%,  6.7% and 10.0%, respectively, respectively, to total sales in FY22.