Snacks maker Bikaji Foods files IPO papers, founders to dilute stake

One of India's largest FMCG companies Bikaji Foods International has filed draft papers with markets regulator SEBI to raise funds via IPO. The company said it will offer for sale (OFS) 2.93 crore shares by its existing promoters and shareholders. The Indian snacks and sweets maker's Founders Shiv Ratan Agarwal and Deepak Agarwal will sell 25 lakh shares each.

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