BIKAJI FOODS INTERNATIONAL LIMITED

Our Company was originally incorporated as "Shivdeep Industries Limited" as a public tailed company under the Companies Act, 1956 at Bikaner, pursuant to a certificate of incorporation dated October 6, 1995 issued by the Registrar of Companies Rajasthan at Jaipur ("RoC") and received a certificate of commencement of business from the RoC on October 27, 1995. following our conversion from the erstwhile partnership firm, "Shivdeep Food Products'' to "Shivdeep Industries Limited". Subsequently, the name of our Company was changed from "Shivdeep Industries Limited" to "Bikaji Foods International" Limited pursuant to the Shareholders' resolution dated September 8, 2011 and a fresh certificate of incorporation dated October 5, 2011 was issued by the RoC to reflect the change in name. For further details including in relation to changes in name and registered office of our Company, see "History and Certain Corporate Matters''on page 181 of the Prospectus of the Company dated November 10, 2022 filed with the RoC (‘Prospectus').

Our Company has filed the Prospectus dated November 10, 2022 with the RoC, and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ("NSE"). and BSE Limited ("BSE") and trading is expected to commence on November 16, 2022.

INITIAL PUBLIC OFFERING OF 29,373,984 EQUITY SHARES OF FACE VALUE OF Rs 1 EACH ("EQUITY SHARES") OF BIKAJI FOODS INTERNATIONAL LIMITED (THE "COMPANY" OR THE ISSUER") FOR CASH AT A PRICE OF Rs 300 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs 299 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING TO Rs 8,808.45 MILLION (THE "OFFER"). THE OFFER COMPRISED AN OFFER FOR SALE OF 29,373,984 EQUITY SHARES ("OFFERED SHARES") AGGREGATING TO Rs 8,808.45 MILLION, COMPRISING 2,500.000 EQUITY SHARES AGGREGATING TO Rs 749.68 MILLION BY SHIV RATAN AGARWAL. 2,500.000 EQUITY SHARES AGGREGATING TO Rs 749.68 MILLION BY DEEPAK AGARWAL (SHIV RATAN AGARWALAND TOGETHER WITH DEEPAKAGARWAL, COLLECTIVELY REFERRED TO AS THE "PROMOTER SELLING SHAREHOLDERS"), 12,110.967 EQUITY SHARES AGGREGATING TO 73,631.74 MILLION BY INDIA 2020 MAHARAJA. LIMITED ("INDIA 2020 MAHARAJA"), 50,000 EQUITY SHARES AGGREGATING TO 714.99 MILUON BY INTENSIVE SOFTSHARE PRIVATE LIMITED ("INTENSIVE SOFTSHARE"), 3,110.056 EQUITY SHARES AGGREGATING TO Rs 932.62 MILLION BY IIFL SPECIAL OPPORTUNITIES FUND, 1,995.552 EQUITY SHARES AGGREGATING TO Rs 598.41 MILLION BY IIFL SPECIAL OPPORTUNITIES FUND- SERIES 2,976,179 EQUITY SHARES AGGREGATING TO Rs 292.73 MILLION BY IIFL SPECIAL OPPORTUNITIES FUND- SERIES 32,753,339 EQUITY SHARES AGGREGATING TO Rs 825.65 MILUON BY IIFL SPECIAL OPPORTUNITIES FUND- SERIES 4 AND 2,162,226 EQUITY SHARES AGGREGATING TO Rs 648.39 MILLION BY IIFL SPECIAL OPPORTUNITIES FUND- SERIES 5 (COLLECTIVELY, "IIFL FUNDS"), 1,215,665 EQUITY SHARES AGGREGATING TO Rs 364.54 MILLION BY AVENDUS FUTURE LEADERS FUND I ("AVENDUS") (INDIA 2020 MAHARAJA. INTENSIVE SOFTSHARE, IIFL FUNDS AND AVENDUS, COLLECTIVELY REFERRED TO AS THE "INVESTOR SELLING SHAREHOLDERS", (INVESTOR SELLING SHAREHOLDERS TOGETHER WITH THE PROMOTER SELLING SHAREHOLDERS, COLLECTIVELY REFERRED TO AS THE "SELLING SHAREHOLDERS" AND SUCH OFFER, THE "OFFER FOR SALE"). THE OFFER FOR SALE INCLUDED A RESERVATION OF 250,000 EQUITY SHARES, AGGREGATING TO Rs 71.25 MILLION, FOR SUBSCRIPTION BY EUGIBLE EMPLOYEES CONSTITUTING 0.10% OF OUR POST-OFFER PAID-UP EQUITY SHARE CAPITAL ("EMPLOYEE RESERVATION PORTION"). THE OFFER LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS THE "NET OFFER". OUR COMPANY AND THE SELLING SHAREHOLDERS, IN CONSULTATION WITH THE BOOK RUNNING LEAD MANAGERS. OFFERED A DISCOUNT OF Rs 15 ON THE OFFER PRICE TO ELIGIBLE EMPLOYEES BIDDING IN THE EMPLOYEE RESERVATION PORTION ("EMPLOYEE DISCOUNT"). THE OFFER AND THE NET OFFER SHALL CONSTITUTE 11.77% AND 11.67%. RESPECTIVELY. OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY. THE FACE VALUE OF THE EQUITY SHARE IS 71 EACH. THE OFFER PRICE IS 300 TIM ES THE FACE VALUE OF THE EQUITY SHARES.

1. The weighted average cost of acquisition is as follows:

6. The details of Price / Earning, EPS, RoNW and NAV as on and for the period ended March 31, 2022 is as follows:

7. The 5 BRLMs associated with the Offer have handled 83 public issues in the past three years, out of which 25 issues closed below the offer price on the listing date respectively.

*Issues handled where there were no common BRLMs

The Offer was made through the Book Budding Process, in terms of Rule 19(2)(b) of the SCRR read 'with Regulation 31 of the SEBIICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 5014 of the Net Offer was available for allocation on a proportionate basis to Qualified institutional Buyers ("QIBs") (the "QIB Portion"), Our Company and the Selling Shareholders in consultation with the BRLMs allocated up lo 60% of the QIB Portion to Anchor Investors on a discretionary basis ("Anchor Investor Portion"). One-third of the Anchor Investor Portion 'was reserved for domestic Mutual Funds, subject to valid Bids reserved from the domestic Mutual Funds at or above the price at which allocation was made to Anchor Investors ("Anchor Investor Allocation Price"), m accordance with the SEBI ICDR Regulations. Further, 5% of the Net QIB Portion was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to all QIB Bidders including Mutual Funds, subject lo valid Bids received from them al or above the Offer Price, Further, not less than 15% of the Net Offer was available for allocation Non- Institutional Investors of which (a) one-third portion was reserved for applicants with application size of more than Rs 0.2 million and up lo Rs 1 million; and (b) two-thirds portion was reserved for applicants with application size of more than Rs 1 million. Further, not less than 35% of the Net Offer was available for allocation to Retail Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids receded from them at or above the Offer Price. Further, 250,000 Equity Shares aggregating to Rs 71.25 million was available for allocation lo Eligible Employees, subject to valid Bids received at or above the Offer Price. All Bidders, other than Anchor Investors, were required to participate in the Offer by mandatory utilising the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA Account and UPI ID in case of UPI Bidders, as applicable, in which the corresponding Bid Amounts were blocked by the Self Certified Syndicate Banks ("SCSBs") or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts Anchor Investors were not permitted to participate in the Offer through the ASBA process,

The bidding for Anchor Investors opened and closed on November 2, 2022 The Company received 37 applications from 24 Anchor investors for 9,901,050 Equity Shares, The Anchor Investor Offer Price was finalized at Rs 300 per Equity Share. A total of 8,737,194 Equity Shares were allocated under the Anchor Investor Portion aggregating to Rs 2,621,158,200.00

The Offer received 832.347 applications for 520,773,250 Equity Shares resulting in 17,7291 times subscription as disclosed in the Prospectus The details of the applications received m the Offer from Retail Individual Bidders, Non-Institutional Bidders and QIBs are as under (before technical rejections):

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Offer Closing Date at different Bid prices is as under

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on November 11, 2022.

A. Allotment to Retail Individual Bidders (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Bidders who have bid at cut-off or at the Offer Price of Rs 300 per Equity, was finalized m consultation with BSE This category has been subscribed to the extent of 4,6351 times The total number of Equity Shares Allotted in Retail Individual Bidders category is 10,198,033 Equity Shares to 203,960 successful applicants. The category-wise details of the Basis of Allotment are as under:

B. Allotment to Non- Institutional Bidders (more than lakhs and upto Rs 10 lakhs) (After Technical Rejections) (including ASBA Applications)

The Bays of Allotment to the Non-Institutional Bidders (more than Rs 2 lakhs and upto Rs 10 lakhs), who have bid at the Offer Price of Rs 300 per Equity Share was finalized in consultation with BSE This category has been subscribed to the extent of 6,2858 times. The total number of Equity Shares allotted in this category is 1,456.863 Equity Shares to 2,081 successful applicants, The category-wise details of the Basis of Allotment are as under: (Sample)

C. Allotment to Non- Institutional Bidders (more than Rs 10 lakhs) (After Technical Rejections) (Including ASBA Applications)

The Basis of Allotment to the Non- Institutional Bidders (more than Rs 10 lakhs), who have bid at the Offer Price of Rs 300 per Equity Share was finalized in consultation with BSE This category has been subscribed to the extent of 7,4434 times. The total number of Equity Shares allotted in this category is 2,913,723 Equity Shares to 4,162 successful applicants The category-wise details of the Basis of Allotment are as under: (Sample)

D. Allotment to Eligible Employees (After Technical Rejections)

The Basis of Allotment to the Eligible Employees, who have bid at the Offer Price of Rs 300 per Equity Share (net of Employee Discount) was finalized in consultation with BSE. This category has been subscribed to the extent of 0.9470 times. The total number of Equity Shares allotted in this category is 236,750 Equity Shares to 368 successful applicants. The category-wise details of the Basis of Allotment are as under

E. Allotment to QIBs (After Technical Rejections)

Allotment to QIBs, who have bid at the Offer Price of Rs 300 per Equity Share has been done on a proportionate basis in consultation with BSE This category has been subscribed to the extent of 73.68 times of Net QIB portion. As per the SEBI ICDR Regulations, Mutual funds were allotted 5% of the Equity Shares of Net QIB portion available i.e 291,572 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e 5,539,849 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category (including MF) is 5,831,421 Equity Shares which were allotted to 83 successful Applicants

F. Allotment to Anchor Investors

The Company and the Selling Shareholders in consultation with the BRLMs, have allocated 3,737,194 Equity Shares to 24 Anchor Investors (through 36 Anchor Investor Application Forms) (including 10 domestic Mutual Funds through 17 schemes) at an Anchor Investor Offer Price at Rs 300/- per Equity Share in accordance with SEB^; ICDR Regulations, This represents 60% of the QIB portion

The IPO Committee of our Company at its meeting held on November 11, 2022 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants The Allotment Advice Cum Refund Intimation and/or notices hare been dispatched to the address of the investors as registered with the depositories Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on November 11, 2022 and the payments to non-syndicate brokers have been issued on November 14, 2022. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below The Equity Shares allotted to the successful allottees have been uploaded on November 14, 2022 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned The Company has filed the Listing application with NSE and BSE on November 14, 2022. The Company has received the listing and trading approval from NSE & BSE, and trading will commence on November 16, 2022.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Offer, Link Intime India Private Limited at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant, Serial number of the Bid cum Application form. Bidders DP ID, Client ID. PAN, date of submission of Bid cum Application Form. address of the Bidder, number of Equity Shares bid for, copy of the Acknowledgment Slip received from the Designated intermediary, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:

Link Intime India Private Limited

C-101.247 Park. L B.S. Marg, Vikhroli (West). Mumbai 400 083 Maharashtra. India. Tel: +91 22 4918 6200 /+91 810 811 4949

E-mail: bikaji ipo@linkintime.co.in ; Investor Grievance E-mail: bikaji ipo@linkintime.co.in   Website: www.linkintime.co.in ;

Contact person: Shanti Gopalkrishnan; SEBI Registration No.: INR000004058

BIKAJI FOODS INTERNATIONAL LIMITED has filed the Prospectus dated November 10, 2022 with the RoC and thereafter with Securities and Exchange Board of India ('SEBI') and the Stock Exchanges The Prospectus s available on the website of the SEBI at www.sebi.gov.in  as well on the websites of the BRIMs i.e, JM Financial Limited at www.jmfl.com   Axis Capital Limited a; www.axiscapital.co.in . IIFL Securities Limited at www.iiflcap.com , Intensive Fiscal Services Private Limited at www.intensivefiscal.com   and Kotak Mahindra Capital Company Limited at www.investmentbank.kotak.com , the website of the National Stock Exchange of India Limited at www.nsemindia.com   and the website of the BSE Limited at www.bsemindia.com.  respectively. Any Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see 'Risk Factors' beginning on page 30 of the Prospectus

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended the ("Securities Act") or any other applicable law of the United Stales and, unless so registered. may not be offered or sold within the United Slates, except pursuant to an exemption from, or m a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to persons reasonably believed to be qualified Institutional buyers has defined in Rule 144A under the Securities Act. ('Rule 144A') in transactions exempt from, or not subject to, the registration requirements of the Securities Act, and (ii) outside the Untied States in offshore transactions in compliance with Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made There will be no public offering of the Equity Shares in the United States.