Bikaji Foods is very much in the limelight today; from its previous close of Rs.426.35, the stock opened at Rs.429.70 and went on to hit a new 52-week high at Rs.468.95.
The stock price hit a new high after it reported acquiring a 49% stake in competitive snack maker, Bhujialalji though the acquisition price was not divulged.
This was acquired through acquisition of 9608 equity shares and 396 Compulsory Convertible Debentures (CCDs).
As a result of the acquisition, Bhujialalji is now an associate of Bikaji Foods International.
Bhujialalji Private Limited reported an annual turnover of Rs 18 crore and a net worth of Rs -3 crore as of March 31, 2023.