On July 19, Bikaji Foods International shares surged to a 52-week high of Rs 451, rising 4% to Rs 444.55, succeeding the company’s acquisition of a 49% stake in snack maker Bhujialalji.

The acquisition on July 19 involved 9,608 equity shares and 396 Compulsorily Convertible Debentures (CCDs). Bikaji denied mentioning the price paid for buying Bhujialalji.

As a result of the acquisition, Bhujialalji Private Limited is now a subordinate of Bikaji Foods International. Bhujialalji Private Limited stated an annual turnover of Rs 18.08 crore and a net worth of Rs (3.03) crore as of March 31, 2023.

On July 10, Bikaji Foods International inaugurated a new wholly-owned subsidiary named Bikaji Foods International USA Corp in New Jersey, USA. The subsidiary has a legal share capital of USD 500,000 divided into 50,000 common stocks of USD 10 each.

During March 2023, Bikaji Foods International chronicled a significant increase in net profit, posting a 51.65% jump to Rs 37.71 crore versus Rs 24.87 crore in March 2022. The company’s revenue also saw a YoY growth of 15.5%, reaching Rs 462.26 crore against Rs 400.25 crore.