Bikaji Foods International, the third-largest ethnic snack company with international influence, went public on November 3, the first day of the tender, and obtained an offer of 78.16 lakh shares with 2.06 crore shares subscribed for 38% of the offered size.

All investors started bidding on the IPO on day one. Retail investors bought 66% of the allocation, and employees bid 28% of the portion reserved for them.

The company has reserved 2.5 lakh shares for its employees, who will receive the final issue price at a discount of Rs 15 per share.

Non-institutional investors bid for 24% of its reserved portion, while qualified institutional buyers have purchased 2,800 shares, compared with 58.24 lakh shares.