Bikaji Foods International Shares List At 8% Premium Over Issue Price

Bikaji Foods International made a decent debut on stock exchanges BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) on Wednesday, listing at a premium of 8 per cent over its issue price of Rs 300. 

The packaged snack manufacturer started its trading journey at Rs 321.15 a piece on NSE — a 7 per cent to the issue price.

Bikaji Foods International shares were trading at a premium of Rs 25-30 in the grey market ahead of its listing on Dalal Street, indicating a strong listing pop for investors.

Pravesh Gour, Senior Technical Analyst, Swastika Investmart, Bikaji Foods, said: "The company’s muted listing but the issue had received a good response from investors on both the institutional as well as Retail side. Nevertheless, the company's margins are on the declining side and a P/E valuation of 95.2 looks expensive. Therefore, we advise only aggressive investors should consider making a long-term commitment to the company. Those who applied for listing gains can maintain a stop loss of Rs 310."

Bikaji Foods is a leading ethnic snack company in India. The product range includes six main categories: bhujia, namkeen, packaged sweets, papad, and western snacks.