{"id":25504,"date":"2022-11-02T16:53:24","date_gmt":"2022-11-02T11:23:24","guid":{"rendered":"https:\/\/www.fundsindia.com\/blog\/?p=25504"},"modified":"2022-11-02T16:59:16","modified_gmt":"2022-11-02T11:29:16","slug":"bikaji-foods-international-ltd-ipo-note-equity-research-desk","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504","title":{"rendered":"Bikaji Foods International Ltd \u2013 IPO Note &#8211; Equity Research Desk"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner.jpg\"><img loading=\"lazy\" width=\"1024\" height=\"512\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner-1024x512.jpg\" alt=\"\" class=\"wp-image-25505\" srcset=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner-1024x512.jpg 1024w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner-300x150.jpg 300w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner-768x384.jpg 768w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner-1536x768.jpg 1536w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner-2048x1024.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h4><strong>Company Overview:&nbsp;<\/strong><\/h4>\n\n\n\n<p>Bikaji Foods is one of India\u2019s largest fast-moving consumer goods (\u201cFMCG\u201d) brands with an international footprint, selling Indian snacks and sweets, and are among the fastest-growing companies in the Indian organised snacks market. The company is the largest manufacturer of Bikaneri bhujia with an annual production of 29,380 tonnes. The company is also one of the largest manufacturers of packaged rasgulla with an annual capacity of 24,000 tonnes along with that of soan papdi and gulab jamun with annual capacities of 23,040 tonnes and 12,000 tonnes, respectively.&nbsp; The Rajasthan-based snack major is backed by investors like Avendus, Axis Asset Management, Lighthouse Funds, IIFL Asset Management, and Intensive Softshare, among others.&nbsp;The company has six operating manufacturing facilities, four of which are located in Bikaner, Rajasthan, and one each in Assam and Karnataka. It also has a contract manufacturing unit in West Bengal and a small facility in Mumbai catering to restaurant sales. Bikaji intends to establish and operationalise five more manufacturing facilities, one in Rajasthan catering to frozen snacks and sweet products owned and operated by the company besides others across Rajasthan, Bihar, and Uttar Pradesh, where it will produce namkeen and western snacks.&nbsp;<\/p>\n\n\n\n<h4><strong>Objects of the Offer:<\/strong><\/h4>\n\n\n\n<ul><li>The listing will enhance its visibility and brand image.<\/li><li>To provide a public market for equity shares in India.<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Bikaji-IPO.png\"><img loading=\"lazy\" width=\"329\" height=\"232\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Bikaji-IPO.png\" alt=\"\" class=\"wp-image-25507\" srcset=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Bikaji-IPO.png 329w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Bikaji-IPO-300x212.png 300w\" sizes=\"(max-width: 329px) 100vw, 329px\" \/><\/a><\/figure><\/div>\n\n\n\n<h4><strong>Investment Rationale:<\/strong><\/h4>\n\n\n\n<p><strong>Diversified Offerings: <\/strong>Bikaji is the third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets and the second fastest growing company in the Indian organised snacks market.<strong> <\/strong>The product range includes six principal categories such as bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range, and cookies. As of June 30, 2022, the company\u2019s diversified product portfolio included more than 300 products across all the product segments. It also launched packages of various sizes for its products. For example, Bhujia and namkeen products are available in packages as small as a pouch that is 14-25 grams for \u20b95 to a one (1) kilogram pouch for \u20b9350.<\/p>\n\n\n\n<p><strong>Financial Performance:<\/strong> The sale of food products increased from \u20b91072 crs in Fiscal 2020 to \u20b91603 crs in Fiscal 2022, at a CAGR of 22.25% and was \u20b9332 crs in the three months ended June 30, 2021, and \u20b9417 crs in the three months ended June 30, 2022. The company is the market leader in the family pack segment with a 60.57% share of business coming from SKUs other than \u20b95 and \u20b910 packs during Fiscal 2022.<\/p>\n\n\n\n<p><strong>Strong Track Record<\/strong>: Bikaji\u2019s history and lineage trace back to Gangabishan Agarwal, founder of the Haldiram brand. His grandson, Shiv Ratan Agarwal, the founder and one of the Promoters of Bikaji, continued his legacy and developed extensive experience in the Indian ethnic snacks industry. The company has established a successful track record for more than 3 decades in the manufacturing and processing of bhujia, papad, namkeens, and sweets, among other products. Mr. Shiv Ratan Agarwal has more than three decades of experience, and other key directors, namely, Ms. Sushila Devi Agarwal and Mr. Deepak Agarwal both have more than two decades of experience in the same line of business activity.&nbsp;<\/p>\n\n\n\n<h4><strong>Key Risks:<\/strong><\/h4>\n\n\n\n<p><strong>OFS &#8211; <\/strong>The IPO is entirely an Offer for Sale (OFS) by its promoters and existing shareholders. The company will not receive any proceeds from the issue. Both the promoters, Ratan Agarwal and Deepak Agarwal, are looking to offload up to 25 lakh company shares each. Other institutions participating in the OFS include India 2020 Maharaja, Ltd; Intensive Softshare Pvt Ltd, IIFL Special Opportunities Fund, IIFL Special Opportunities Fund &#8211; Series 2, IIFL Special Opportunities Fund &#8211; Series 3, IIFL Special Opportunities Fund &#8211; Series 4, IIFL Special Opportunities Fund &#8211; Series 5 and Avendus Future Leaders Fund I.<\/p>\n\n\n\n<p><strong>Competitive Risk \u2013 <\/strong>Bikaji faces fierce competition from the organised, as well as unorganised sectors, which constitute a major portion of the market currently. However, with factors such as lifestyle changes, rising urbanisation, a growing middle-class population, local availability, and the availability of snacks in small package sizes, along with a low price and the company&#8217;s strategies to focus on regional taste, growth is expected in the organised sector.<\/p>\n\n\n\n<h4><strong>Outlook:&nbsp;<\/strong><\/h4>\n\n\n\n<p>The company\u2019s listed peers are Prataap snacks, DFM foods, ITC ltd, etc. At a higher price band, the listing market cap will be around ~Rs.7485 crs and bikaji is demanding a P\/E multiple of 95x based on FY22 EPS, which seems to be high for a fully OFS IPO. The company\u2019s top line is in the rapid growth phase and its Pan India distribution network is one of the main additives for the growth. However, most of the revenues are coming from Rajasthan, Bihar, and Assam which possess a geographical concentration issue. Based on the above views, we provide a &#8216;<strong>Neutral<\/strong>&#8216; rating for this IPO.<\/p>\n\n\n\n<p>If you are new to FundsIndia, open your FREE investment account with us and enjoy lifelong research-backed investment guidance.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.fundsindia.com\/registration\/signup\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" width=\"406\" height=\"66\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2022\/10\/button_open-your-free-account-1.png\" alt=\"\" class=\"wp-image-25306\" srcset=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/10\/button_open-your-free-account-1.png 406w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/10\/button_open-your-free-account-1-300x49.png 300w\" sizes=\"(max-width: 406px) 100vw, 406px\" \/><\/a><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Company Overview:&nbsp; Bikaji Foods is one of India\u2019s largest fast-moving consumer goods (\u201cFMCG\u201d) brands with an international footprint, selling Indian snacks and sweets, and are among the fastest-growing companies in the Indian organised snacks market. The company is the largest manufacturer of Bikaneri bhujia with an annual production of 29,380 tonnes. The company is also [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":25505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59,797],"tags":[837,746,838,517,745,289,273,800,798,272],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bikaji Foods International Ltd \u2013 IPO Note - Equity Research Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bikaji Foods International Ltd \u2013 IPO Note - Equity Research Desk\" \/>\n<meta property=\"og:description\" content=\"Company Overview:&nbsp; Bikaji Foods is one of India\u2019s largest fast-moving consumer goods (\u201cFMCG\u201d) brands with an international footprint, selling Indian snacks and sweets, and are among the fastest-growing companies in the Indian organised snacks market. The company is the largest manufacturer of Bikaneri bhujia with an annual production of 29,380 tonnes. The company is also [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504\" \/>\n<meta property=\"og:site_name\" content=\"Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/fundsindia\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-02T11:23:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-02T11:29:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2134\" \/>\n\t<meta property=\"og:image:height\" content=\"1067\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Equities Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#organization\",\"name\":\"Wealth India Financial Services\",\"url\":\"https:\/\/www.fundsindia.com\/blog\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/fundsindia\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2018\/07\/download.jpeg\",\"contentUrl\":\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2018\/07\/download.jpeg\",\"width\":189,\"height\":200,\"caption\":\"Wealth India Financial Services\"},\"image\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#website\",\"url\":\"https:\/\/www.fundsindia.com\/blog\/\",\"name\":\"Insights\",\"description\":\"Official blog of FundsIndia.com\",\"publisher\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.fundsindia.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner.jpg\",\"contentUrl\":\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner.jpg\",\"width\":2134,\"height\":1067},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#webpage\",\"url\":\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504\",\"name\":\"Bikaji Foods International Ltd \\u2013 IPO Note - Equity Research Desk\",\"isPartOf\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#primaryimage\"},\"datePublished\":\"2022-11-02T11:23:24+00:00\",\"dateModified\":\"2022-11-02T11:29:16+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.fundsindia.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bikaji Foods International Ltd \\u2013 IPO Note &#8211; Equity Research Desk\"}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#article\",\"isPartOf\":{\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#webpage\"},\"author\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#\/schema\/person\/78222a5d6aef66b1f386dfa767382656\"},\"headline\":\"Bikaji Foods International Ltd \\u2013 IPO Note &#8211; Equity Research Desk\",\"datePublished\":\"2022-11-02T11:23:24+00:00\",\"dateModified\":\"2022-11-02T11:29:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#webpage\"},\"wordCount\":817,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner.jpg\",\"keywords\":[\"Bikaji Foods IPO\",\"Equity Research\",\"FMCG Brands\",\"FundsIndia\",\"FundsIndia Equity Research\",\"investing\",\"investment\",\"IPO Alert\",\"IPO Note\",\"stocks\"],\"articleSection\":[\"Equity Research\",\"IPO Note\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#respond\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#\/schema\/person\/78222a5d6aef66b1f386dfa767382656\",\"name\":\"Equities Desk\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2620d09063050fc426411ab6ea46fc72?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2620d09063050fc426411ab6ea46fc72?s=96&d=mm&r=g\",\"caption\":\"Equities Desk\"},\"sameAs\":[\"http:\/\/www.fundsindia.com\"],\"url\":\"https:\/\/fundsindia.com\/blog\/author\/equities-desk\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bikaji Foods International Ltd \u2013 IPO Note - Equity Research Desk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504","og_locale":"en_US","og_type":"article","og_title":"Bikaji Foods International Ltd \u2013 IPO Note - Equity Research Desk","og_description":"Company Overview:&nbsp; Bikaji Foods is one of India\u2019s largest fast-moving consumer goods (\u201cFMCG\u201d) brands with an international footprint, selling Indian snacks and sweets, and are among the fastest-growing companies in the Indian organised snacks market. The company is the largest manufacturer of Bikaneri bhujia with an annual production of 29,380 tonnes. The company is also [&hellip;]","og_url":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504","og_site_name":"Insights","article_publisher":"https:\/\/www.facebook.com\/fundsindia","article_published_time":"2022-11-02T11:23:24+00:00","article_modified_time":"2022-11-02T11:29:16+00:00","og_image":[{"width":2134,"height":1067,"url":"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner.jpg","type":"image\/jpeg"}],"twitter_misc":{"Written by":"Equities Desk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Organization","@id":"https:\/\/www.fundsindia.com\/blog\/#organization","name":"Wealth India Financial Services","url":"https:\/\/www.fundsindia.com\/blog\/","sameAs":["https:\/\/www.facebook.com\/fundsindia"],"logo":{"@type":"ImageObject","@id":"https:\/\/www.fundsindia.com\/blog\/#logo","inLanguage":"en-US","url":"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2018\/07\/download.jpeg","contentUrl":"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2018\/07\/download.jpeg","width":189,"height":200,"caption":"Wealth India Financial Services"},"image":{"@id":"https:\/\/www.fundsindia.com\/blog\/#logo"}},{"@type":"WebSite","@id":"https:\/\/www.fundsindia.com\/blog\/#website","url":"https:\/\/www.fundsindia.com\/blog\/","name":"Insights","description":"Official blog of FundsIndia.com","publisher":{"@id":"https:\/\/www.fundsindia.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.fundsindia.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#primaryimage","inLanguage":"en-US","url":"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner.jpg","contentUrl":"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner.jpg","width":2134,"height":1067},{"@type":"WebPage","@id":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#webpage","url":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504","name":"Bikaji Foods International Ltd \u2013 IPO Note - Equity Research Desk","isPartOf":{"@id":"https:\/\/www.fundsindia.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#primaryimage"},"datePublished":"2022-11-02T11:23:24+00:00","dateModified":"2022-11-02T11:29:16+00:00","breadcrumb":{"@id":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.fundsindia.com\/blog"},{"@type":"ListItem","position":2,"name":"Bikaji Foods International Ltd \u2013 IPO Note &#8211; Equity Research Desk"}]},{"@type":"Article","@id":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#article","isPartOf":{"@id":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#webpage"},"author":{"@id":"https:\/\/www.fundsindia.com\/blog\/#\/schema\/person\/78222a5d6aef66b1f386dfa767382656"},"headline":"Bikaji Foods International Ltd \u2013 IPO Note &#8211; Equity Research Desk","datePublished":"2022-11-02T11:23:24+00:00","dateModified":"2022-11-02T11:29:16+00:00","mainEntityOfPage":{"@id":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#webpage"},"wordCount":817,"commentCount":0,"publisher":{"@id":"https:\/\/www.fundsindia.com\/blog\/#organization"},"image":{"@id":"https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#primaryimage"},"thumbnailUrl":"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner.jpg","keywords":["Bikaji Foods IPO","Equity Research","FMCG Brands","FundsIndia","FundsIndia Equity Research","investing","investment","IPO Alert","IPO Note","stocks"],"articleSection":["Equity Research","IPO Note"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/fundsindia.com\/blog\/equities\/bikaji-foods-international-ltd-ipo-note-equity-research-desk\/25504#respond"]}]},{"@type":"Person","@id":"https:\/\/www.fundsindia.com\/blog\/#\/schema\/person\/78222a5d6aef66b1f386dfa767382656","name":"Equities Desk","image":{"@type":"ImageObject","@id":"https:\/\/www.fundsindia.com\/blog\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/2620d09063050fc426411ab6ea46fc72?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2620d09063050fc426411ab6ea46fc72?s=96&d=mm&r=g","caption":"Equities Desk"},"sameAs":["http:\/\/www.fundsindia.com"],"url":"https:\/\/fundsindia.com\/blog\/author\/equities-desk"}]}},"jetpack_featured_media_url":"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2022\/11\/Blog-banner.jpg","_links":{"self":[{"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/posts\/25504"}],"collection":[{"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/comments?post=25504"}],"version-history":[{"count":1,"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/posts\/25504\/revisions"}],"predecessor-version":[{"id":25509,"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/posts\/25504\/revisions\/25509"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/media\/25505"}],"wp:attachment":[{"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/media?parent=25504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/categories?post=25504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fundsindia.com\/blog\/wp-json\/wp\/v2\/tags?post=25504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}