Bikaji Foods International Limited IPO

Bikaji Foods International Limited is the third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets, and it is the second fastest growing company in the Indian organised snacks market. The company’s product range includes six principal categories: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range and cookies. In the three months ended June 30, 2022, the company had sold more than 300 products under the Bikaji brand.

The company has operations across 23 states and four union territories as of June 30, 2022. The company has developed a large pan-India distribution network by establishing six depots, 38 superstockists, 416 direct and 1,956 indirect distributors that work with their superstockists, located across various states and union territories. In the three months ended June 30, 2022, the company has exported their products to 21 international countries, including countries in North America, Europe, Middle East, Africa, and Asia Pacific.

The company has seven operational manufacturing facilities, with four facilities located in Bikaner (Rajasthan), one in Guwahati (Assam), one facility in Tumakuru (Karnataka) and Muzaffarpur (Bihar). In addition, the company has entered into an agreement on a non-exclusive basis with a contract manufacturing unit in Kolkata.

In Fiscal 2022, the company was the largest manufacturer of Bikaneri bhujia with annual production of 29,380 tonnes, and it was the second largest manufacturer of handmade papad with an annual production capacity of 9,000 tonnes. Bikaji was also the third largest player in the organised sweets market with annual capacity of 24,000 tonnes for packaged rasgulla, 23,040 tonnes for soan papdi and 12,000 tonnes for gulab jamun.