Bikaji IPO: Rajasthan-based Indian snack giant Bikaji Foods International has filed the Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO) with the market regulator Sebi. The comment was cited in the Frost and Sullivan Report. The snack maker is likely to raise around Rs 1,000 crore as per the market source said.

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The country which claims to be one of the largest fast-moving consumer goods (FMCG) brand with an international footprint will make an offer for sale (OFS) of up to 29,373,984 shares. It will be offered by existing shareholders and promoter group entities. 

The snack-maker is backed by marquee investors like Avendus, Axis Asset Management, Lighthouse Funds, IIFL Asset Management, and Intensive Softshare.

This being the first public issue of equity shares and there has been no formal market for the equity shares of the company.

"The face value of the Equity Shares is Re 1 each," said the company.

Bikaji Foods International is a very popular brand in India for ready to eat (RTE) snacks and ethnic savouries. It is one of the major producers of ethnic savoury and sweet foods, and it is now implementing an omnichannel strategy that combines physical presence in important places with a digital presence.