Bikaji Foods Share Gives 72 Percent Since IPO Listing On Stock Exchanges

Bikaji Foods Share: On Wednesday, September 7, 2023, it was reported that Tata Group’s FMCG company Tata Consumer Products can buy more than 51 percent stake in Haldiram, the largest company making Namkeen Bhujia snacks in the country. However, this news has been denied by both Tata Consumer and Haldiram. But after this news came out, there was a jump in the stock of Bikaji Foods, the only Namkeen Bhujia maker listed in the stock market.

It is only 10 months since Bikaji Funds got listed on the Indian Stock Exchange. The company came out with an IPO last year and in November 2022, Bikaji Foods was listed on the stock exchange with a slight increase in the issue price of Rs 300. But since the listing, the stock has given amazing returns to its investors. The Rs 300 stock is now trading at Rs 514. That is, since the listing, the stock has given a return of 72 per cent to the investors. The market value of the company is Rs 12,847 crore. In the financial year 2022-23, the company’s revenue was Rs 1944 crore and profit was Rs 127 crore.

Although Haldiram’s is a much bigger company than Bikaji Funds. When the news of Tata Consumer buying stake in Haldiram came, it was said that Haldiram had asked for a valuation of $10 billion i.e. Rs 83000 crore, which was denied. While the market cap of Bikaji Foods is around $1.5 billion.

The Competition Commission of India has approved the demerger of the FMCG business of Haldiram Foods International and Haldiram Snacks Pvt Ltd, which will be part of the new company Haldiram Snacks Foods. The revenue of Haldiram Foods International is Rs 3622 crore and the revenue of Haldiram Snacks Pvt Ltd is Rs 5248 crore. After the merger, the revenue of the new company becomes Rs 8870 crore, which is much more than the revenue of Bikaji Foods. In the past, many times these news also came out that IPO of Haldiram Snacks Foods may come.

However, the effect of all these news is also being seen on the stock of Bikaji Foods. Brokerage houses are very positive on Bikaji stock these days. They believe that Bikaji’s stock can give excellent returns to the investors in the coming days.

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