Bikaji Foods trades lower after Lighthouse India offloads 1.3% stake

Shares of Bikaji Foods International fell 1% on the NSE at the open on September 6, a day after Lighthouse India Fund III sold its stake in the Indian snack maker. As of 9:43 am, shares traded up 0.3% at Rs 514.
According to ESB’s bulk transaction data, Lighthouse India Fund III has sold 32,42 lakh shares, or 1.3% of Bikaji Foods International’s shares, through open market transactions, at a price average is Rs 480/share. As of June 2023, Lighthouse India holds 2.7% capital of Bikaji. Plutus Wealth Management LLP purchased 13.5 lakh shares of the company at an average price of Rs 480.11 per share. For the quarter ended June 2023, Bikaji Foods International reported a 15% increase in operating revenue year-on-year to Rs 9,999. 482.1 billion VND. During the same period, net profit also increased 163.8 percent year-on-year to Rs 41.4 crore. Earnings before interest, taxes and depreciation for June 2023 were 13.6%, up 630 basis points from June 2022. Bikaji Foods International is the third largest producer of traditional snacks. of India and has operations all over India. The company also exports products to 25 countries, including North America, Europe and the Middle East.