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An announcement from Bikaji Foods International Ltd. ( (IN:BIKAJI) ) is now available.
Bikaji Foods International Ltd. has approved a series of capital and financing moves aimed at strengthening its retail footprint and expanding into adjacent categories. The board cleared an additional investment of up to ₹50 crore in its wholly-owned subsidiary Bikaji Foods Retail Ltd. to bolster retail operations, and greenlit a joint venture and shareholders’ agreement with Managing Director Deepak Agarwal and Bakemart founder Thayekunni Khaleel to build a frozen and bakery business in India via Bikaji Bakes Pvt. Ltd. The company also sanctioned loan agreements of up to ₹5 crore to subsidiary Petunt Food Processors Pvt. Ltd. and up to ₹8 crore to contract manufacturing unit Dadiji Snacks Pvt. Ltd., alongside an investment of up to ₹25 crore in Jai Barbareek Dev Snacks Pvt. Ltd. through optionally convertible debentures, collectively signaling an aggressive push to deepen manufacturing, product diversification and distribution capabilities across its snack and bakery portfolio.
More about Bikaji Foods International Ltd.
Bikaji Foods International Ltd. is an Indian packaged foods company based in Bikaner, Rajasthan, known for its ethnic snacks, namkeens and related food products, and is expanding its presence in retail and allied segments through wholly-owned subsidiaries and joint ventures.
Average Trading Volume: 29,034
Technical Sentiment Signal: Sell
Current Market Cap: 163B INR
See more insights into BIKAJI stock on TipRanks’ Stock Analysis page.