Bikaji Foods International acquires 49% stake in Bhujialalji
The deal comprised of 9,608 equity shares and 396 CCDs at Rs. 5100 value per security aggregating to Rs.5.10 crore
Bikaji Foods International Ltd. has acquired 49% stake and 396 Compulsorily Convertible Debentures (CCDs) in Bhujialalji Pvt. Ltd., an upcoming company in the ethnic snacks industry, according to a filing to the stock exchange.
The deal comprised of 9,608 equity shares and 396 CCDs at Rs. 5100 value per security aggregating to Rs.5.10 crore.
The face value is Rs. 10 per equity share.
Bhujialalji Pvt. Ltd. (BPL) is a new entrant to this industry with its product portfolio comprising popular Bhujia and namkeen variants.
The acquisition comes at a time when India’s organised snacktionary business is currently valued at Rs. 4,240 billion.
It has grown significantly in last five years on account of changing lifestyles, rising incomes and urbanization.
In Fiscal 2015, the packaged food retail revenue was worth Rs. 2,434 billion and has registered a CAGR of approximately 8.3% from Fiscal 2015 to Fiscal 2022. It is estimated to grow at CAGR of 8% in next five years to reach at Rs.5,798 billion, according to a Frost & Sullivan report. Indian Savoury Snacks market is valued at Rs.751 billion in 2022 and is expected to reach ₹1,227 billion by 2026 at CAGR 13%.
