JSA advised JM Financial Limited, Axis Capital Limited, Intensive Fiscal Services Private Limited, IIFL Securities Limited and Kotak Mahindra Capital Company Limited in relation to the initial public offering of equity shares of Bikaji Foods International Limited (“Bikaji”) (“IPO”) comprising of an offer for sale of INR 8,808.45 million, at a price of Rs. 300 per equity share. As per news reports, the IPO was oversubscribed by 26.67 times with the QIB portion being oversubscribed by 80.63 times.
Bikaji is the third largest ethnic snacks company in India with an international footprint, selling Indian snacks and sweets, and are the second fastest growing company in the Indian organised snacks market. (Source: F&S Report) Bikaji’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, Bikaji sold more than 300 products under the Bikaji brand.
JSA Team comprised Lead Partner – Arka Mookerjee, Partner – Pracheta Bhattacharya, Senior Associate – Krupa Brahmbhatt and Associate – Varshini Puni.
Arka Mookerjee is a Partner and Co-Head of the Equity Capital Markets practice, with over 21 years of experience advising on India’s most complex and high-value transactions. Widely recognised for pioneering mandates—including India’s first QIP and InvIT IPO—he represents issuers, underwriters and investors across capital markets and investment structures. Arka actively engages with regulators and industry bodies, playing a key role in shaping India’s evolving capital markets framework.