Bikaji Foods has sold a 30% stake in Bikaji Bakes to Bakemart founder Thayekunni Khaleel.
The transaction was completed on August 26, with Bikaji retaining the remaining 70% stake.
Bikaji Bakes is a non-material subsidiary with negligible contribution to the parent company’s consolidated income and net worth.
Bikaji Foods International Ltd has sold a 30% equity stake in its wholly owned subsidiary Bikaji Bakes Pvt Ltd (BBPL) to Thayekunni Khaleel, an entrepreneur and founder of bakery brand Bakemart. The transaction was completed in tranches, according to the company’s exchange filing.
Following the sale, Bikaji Bakes has ceased to be a wholly owned subsidiary of Bikaji Foods but will continue as a subsidiary, with Bikaji retaining a 70% stake. The transaction was completed on August 26, 2026, while the agreement for the sale was entered into on January 27, 2026.
1 August 2026
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What The Bikaji Bakes Deal Means
The company said the transaction was carried out on an arm’s-length basis. Khaleel is not part of Bikaji Foods’ promoter, promoter group or group companies.
Bikaji Bakes was a wholly owned subsidiary before the transaction and was therefore a related party of Bikaji Foods under applicable regulations. Two promoter-group members of Bikaji Foods, Deepak Agarwal and Shweta Agarwal, are also directors on the board of Bikaji Bakes, according to the disclosure.
The transaction does not form part of any scheme of arrangement and does not involve a slump sale, the company said.
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Bikaji Bakes Reports Small Financial Contribution
Bikaji Bakes is classified as a non-material subsidiary of Bikaji Foods. The company said the subsidiary makes a negligible contribution to its consolidated income and net worth.
For the financial year ended March 31, 2026, Bikaji Bakes reported nil turnover and nil revenue, while its income stood at ₹319.83 thousand. Its net worth was negative at ₹6,128.46 thousand, according to the exchange filing.
The transaction was valued at ₹30,000, according to the disclosure. Given the subsidiary’s financial position and its non-material classification, the company said its contribution to Bikaji Foods’ consolidated income and net worth remains negligible.
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The stake sale changes the ownership structure of Bikaji Bakes, which will now have an external shareholder while continuing as a subsidiary of Bikaji Foods. The company has not disclosed further details on the business rationale behind the transaction in the information provided.
