FMCG company Bikaji Foods International, a leading snacks
and sweets manufacturer, has filed draft papers with market regulator
Securities Exchange Board of India (SEBI) for an initial public offer (IPO) of
around Rs 1,000 crore.

The Rajasthan-based firm will offload 29.4 million shares
through the offer for sale (OFS). Promoters Shiv Ratan Agarwal and Deepak
Aggarwal will be selling 25 lakh shares each. Along with the promoters, private
equity firm Lighthouse Advisors and investment firm IIFL Securities, who are
investors in the company will be selling shares.

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According to the filing Lighthouse Advisors (or India
2020 Maharaja Ltd) holds around 7% stake in the company and IIFL holds a 6.5%
stake.  Lighthouse Advisors will offload
around 1.21 crore equity shares for sale while IIFL Special Opportunities Fund
will offer 1.1 crore shares.

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Bikaji Foods is looking to raise Rs 1000 crore at a
valuation of about $1 billion, according to a report by the Economic Times.
According to the filling, the IPO is completely an OFS hence the selling
shareholders will be entitled to the entire proceeds of the offer and not the
company.

JM Financial, IIFL Securities, Axis Capital, Intensive
Fiscal Services and Kotak Mahindra Capital are lead managers of the issue.

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The listing will enhance the company’s visibility and
brand image, as well as provide a public market for its equity shares in India.

Shiv Ratan Agarwal, chairman of Bikaji Foods started the
company in 1993 after he exited the family business started by his grandfather,
the iconic-bhujia maker, Haldiram Agarwal. Agarwal currently holds a 35% stake
in the company while promoter and whole-time director Deepak Agarwal holds a
16% stake in the company.

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According to the DRHP, the ethnic snack-maker has more
than 250 products under the Bikaji brand providing a range from wholesome bites
to indulgent treats, such as namkeen, sweets, papad, western namkeen, sweets,
papad, western snacks, chips and cookies.

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The company has 43 super stockists, 438 direct and 1,644
indirect distributors that work with its super stockists, located across 22
states and three union territories. The company has six operational
manufacturing facilities.