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Newly-listed Bikaji Foods up 33% since debut, what should investors do?

Bikaji Foods is said to be the third-largest ethnic snacks company in India, however, analysts are divided over its expensive valuation

November 30, 2022 / 01:41 PM IST
Bikaji Foods International | CMP: Rs 320.90 | The share price ended in the green on November 17. Goldman Sachs Funds - Goldman Sachs India Equity Portfolio acquired 17.45 lakh shares in Bikaji Foods International at an average price of Rs 324.5 per share. Bikaji Foods International made an impressive debut on the bourses on November 16 with the shares closing 5.8 percent higher at Rs 317.45 but lower from the day’s high.

Bikaji Foods International | CMP: Rs 320.90 | The share price ended in the green on November 17. Goldman Sachs Funds - Goldman Sachs India Equity Portfolio acquired 17.45 lakh shares in Bikaji Foods International at an average price of Rs 324.5 per share. Bikaji Foods International made an impressive debut on the bourses on November 16 with the shares closing 5.8 percent higher at Rs 317.45 but lower from the day’s high.

 
 
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The share price of ethnic snacks food company Bikaji Foods has been on a roll since its listing. The stock has gained over 33 percent after its market debut on November 16, rising from its listing price of Rs 322.80 to Rs 436.

While the stock was trading flat on November 30 morning, it was up 10 percent for two straight sessions in the week gone by. At 11.08 am, the scrip was quoting at Rs 436 apiece on the National Stock Exchange, up 0.3 percent.

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The Rs 881-crore initial public offering (IPO) was subscribed 26.67 times during November 3-7 period, backed by qualified institutional buyers. QIBs subscribed more than 80 times their quota of shares and high net-worth individuals over seven times. The portions set aside for retail investors and employees were subscribed 4.77 and 4.38 times.