Snacking brand Bikaji Foods' initial public offering opened on Thursday November 3.
Fast moving consumer goods (FMCG) company Bikaji Foods went public with their stock on Thursday, November 3. The company touts itself as the biggest manufacturer of namkeen globally. The company envisions to become a leader in the snacking segment globally and the decision to go public will help their foray into the international market as well. The company's product range includes six major categories namely bhujia, namkeen, packaged sweets, papad, western snacks as well as gift packs (assortment), frozen food, mathri range and cookies.
The price band of the IPO is set at ₹285-300 a share. Out of the estimated Rs 881 crore IPO, the company has allocated Rs 262.11 crores for its anchor investors, reserving 87.37 lakh equity shares at Rs 300 per piece.
With the company going to the market with their shares, their advertisement journey via film endorsements. The company did a film endorsement for Kareena Kapoor Khan and Sonam Kapoor starrer Veere di Wedding in 2018.
They ventured further into film endorsements with Shah Rukh Khan starrer 'Hero'. The mega star also shot a small promotional feature for the company at the time of the film release.
Along with film endorsements, Bikaji Foods also released ad features for their new products. They released a promotional campaign for their gifting options for the festive season four years back.
The company entered into an endorsement agreement with Amitabh Bachchan in 2019. In an ad film conceptualized by agency 3 Brothers and Fil, the brand's campaign "Amit ji loves Bikaji" has a catchy tune to it.
The first multimedia campaign wanted to bring in a youthful angle to appeal to the younger consumer.
On the appointment, Deepak Agarwal, CEO and Director, Bikaji Foods, said, "Amitabh Bachchan's mass appeal and larger-than-life image will help expand Bikaji’s boundaries. Bikaji is a favourite among Indian snack lovers and we hope to enhance the brand appeal to young people across geographies and boost distributors’ confidence.”
The brand is still endorsed by Bachchan. He is routinely featured in multimedia ads for Bikaji. Apart from the endorsement, the company still focuses on branding Bollywood films.
The latest endorsement was for Aayushmann Khurana starrer 'Doctor G'. The campaign that came from the endorsement gives a nod to the company's Bachchan starrer campaign. 'Doctor G loves Bikaji' nudges consumers to celebrate special moments with Bikaji snacks and sweets.
Further, the upcoming Katrina Kaif starrer Phone Bhoot is also endorsed by the brand. In this, the brand has also released Bikaji Bhook Busters contest with the hashtag #BhookBusters, where users are encouraged to share their cravings to win gift hampers from Bikaji.