Bikaji Foods International , the popular Indian snack manufacturer, saw significant movement in its shareholding pattern as promoters sold a substantial stake to institutional investors. The block deal, valued at approximately Rs 183.00 crore, has caught the attention of market watchers and analysts alike.

Promoter Stake Sale Details

Deepak Agarwal and Shiv Ratan Agarwal, key promoters of Bikaji Foods International, executed a block deal to offload nearly 25 lakh shares, representing a 1% stake in the company. The shares were sold at Rs 732.00 per share, resulting in the total transaction value of Rs 183.00 crore. Here's a breakdown of the sale:

• Deepak Agarwal sold 12.5 lakh shares
• Paresh Parekh divested a 0.49% stake

Institutional Buyers

The stake sale attracted several prominent institutional investors, showcasing continued interest in Bikaji's growth story. The major buyers included:

• HDFC Life Insurance: Acquired 8.1 lakh shares
• Tata Mutual Fund: Purchased 7.42 lakh shares
• Other notable buyers: ICICI Prudential Life Insurance, Aditya Birla Sun Life, and Alphamine Absolute Return Fund

Stock Performance

Following the news of the stake sale, Bikaji's stock closed at Rs 721.95, marking a marginal decline of 0.11%. This performance was in contrast to the broader market, as the Nifty 50 index gained 0.91% on the same day.

It's worth noting that Bikaji's stock has faced some challenges in recent times:

• 12-month performance: Declined by 11.47%
• Year-to-date performance: Down by 7.38%

Analyst Outlook

Despite the recent stock performance, the sentiment among analysts covering Bikaji Foods International remains positive:

• All seven analysts maintain a 'Buy' rating on the stock
• Average price target: Rs 884.14
• Implied upside potential: 22.5% from the current price

The strong buy ratings from analysts, coupled with a significant upside potential, suggest that market experts remain optimistic about Bikaji's future prospects, despite the recent promoter stake sale and stock price fluctuations.

As Bikaji Foods International navigates through these ownership changes and market dynamics, investors and industry observers will be keenly watching how the company leverages its strong brand presence and market position to drive growth in the competitive Indian snacks segment.

Bikaji Foods International Limited , a prominent player in the Indian snack food industry, has reported a significant change in its promoter shareholding. The company's promoters, Deepak Agarwal and Shiv Ratan Agarwal, have sold a total of 25,00,000 equity shares through an open market transaction.

Details of the Transaction

The sale involved each promoter offloading 12,50,000 shares. This move has resulted in a decrease in the promoter group's total shareholding from 74.92% to 73.92% of the company's total share capital.

Impact on Individual Holdings

The transaction has affected the individual holdings of the promoters as follows:

• Shiv Ratan Agarwal's stake reduced from 34.22% to 33.72%
• Deepak Agarwal's stake declined from 14.81% to 14.31%

Shareholding Structure Post-Transaction

Following the sale, the promoter group's shareholding structure stands as follows:

Company's Equity Structure

Despite the change in promoter shareholding, Bikaji Foods International Limited's total equity share capital remains unchanged at ₹25,05,92,710, divided into 25,05,92,710 equity shares of ₹1 each.

Regulatory Compliance

The company has duly informed the stock exchanges about this transaction, adhering to the disclosure requirements under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Recent Corporate Activities

In a separate announcement, Bikaji Foods International Limited disclosed that it conducted group analysts and institutional investors meetings in Singapore. The company utilized publicly available investor presentations during these meetings, ensuring that no unpublished price-sensitive information was shared.

As Bikaji Foods International Limited continues to navigate the dynamic snack food market, investors and market watchers will likely keep a close eye on any further changes in the company's shareholding pattern and corporate activities.