Bikaji Foods, a major Indian food and snacks company, has announced that it is not for sale. Despite interest from several companies, Bikaji has made it clear that they are not willing to sell the company, regardless of the offer price.
Company’s Firm Stand
Manoj Verma, Bikaji’s Chief Operating Officer, told Reuters that the company has no plans to sell. He said, “We are focused on growing quickly and have put up a ‘Not for Sale’ sign. We don’t care about the offers being made.” He emphasized that the snacks market in India is growing rapidly, and Bikaji wants to take full advantage of this opportunity. Verma did not confirm if any companies have made offers to buy Bikaji.
Company’s Valuation and Recent Developments
Bikaji’s valuation has surpassed $2.55 billion. The majority shares of the company are owned by Shiv Ratan Agarwal and his family. Since investor interest in Haldiram emerged, Bikaji’s shares have increased by around 67%. On Wednesday, Bikaji’s shares were trading at ₹835, reflecting a decline.
Recent Acquisitions and Future Plans
Manoj Verma noted that the sector is attracting a lot of attention, and more investors are expected to enter the market soon, increasing competition. Recently, Bikaji acquired stakes in Bhujialalji and Ariba Foods. The company plans to acquire more businesses this year to strengthen its position in the frozen food market. Bikaji is ready to invest between ₹1 billion and ₹1.5 billion for these acquisitions.
