Bikaji Foods Founder Shiv Ratan Agarwal Dies of Heart Attack in Chennai at 74
Synopsis
Shiv Ratan Agarwal, the 74-year-old founder of Bikaji Foods International, died of a heart attack in Chennai on April 24 while accompanying his wife during her post-bypass surgery recovery. The man who turned Bikaner's bhujia into a nationally listed snack empire leaves behind a legacy that reshaped India's organised snack industry.
Key Takeaways
Shiv Ratan Agarwal , founder and CMD of Bikaji Foods International , died of a heart attack on April 24 in Chennai at the age of 74 .
He had travelled to Chennai to accompany his wife, who had recently undergone heart bypass surgery and was advised rest.
Agarwal founded the company originally as Shivdeep Foods Products in Bikaner after separating from the Haldiram's family business.
The brand was rebranded as Bikaji in 1993 , named after Rao Bika , the medieval founder of Bikaner city.
Former Rajasthan Chief Minister Ashok Gehlot called his death an irreparable loss and offered condolences on X .
Bikaji Foods International is a publicly listed company; investors and markets will watch for leadership transition announcements.
Shiv Ratan Agarwal, the visionary founder and Chairman and Managing Director of Bikaji Foods International, passed away on Thursday, April 24, in Chennai following a sudden cardiac arrest. He was 74 years old. The snack industry pioneer had travelled to Chennai with his family to be by his wife's side during her post-operative recovery — a final act of devotion that ended in personal tragedy for the Agarwal family and a profound loss for Indian industry.
Sudden Collapse While Caring for Ailing Wife
Agarwal's wife had recently undergone a heart bypass surgery and had been advised strict rest by her doctors. The family had been staying at a hotel in Chennai to facilitate her recovery in proximity to the treating medical facility.
At approximately 7:30 a.m. on Thursday, Agarwal began experiencing acute discomfort and showed signs of cardiac distress. His condition deteriorated rapidly, and he was rushed to a private hospital in Chennai, where doctors declared him dead on arrival.
The cruel irony was not lost on those who knew him — a man who had come to Chennai to nurse his wife back to health lost his own life in the same city, under the same roof of concern and care.
From Bikaner Bhujia to a National Snack Empire
Shiv Ratan Agarwal built Bikaji Foods International from the ground up, transforming a humble bhujia-making unit in Bikaner, Rajasthan, into one of India's most recognisable packaged snack brands. His journey was not without turbulence.
Following a split in the family business linked to the iconic Haldiram's brand, Agarwal made the bold decision to strike out independently. He returned to Bikaner and launched a bhujia manufacturing enterprise under the name Shivdeep Foods Products — a name he coined in honour of his son, Deepak Agarwal.
In 1993, the company was rebranded as Bikaji, a name deliberately drawn from Rao Bika, the medieval founder of the city of Bikaner. The rebranding was a masterstroke — it gave the company deep regional roots while projecting a brand identity strong enough to compete nationally and eventually internationally.
Under his stewardship, Bikaji Foods became a publicly listed company, making its debut on the Indian stock exchanges and earning a market capitalisation that reflected decades of disciplined brand-building. The company today sells a wide range of namkeens, sweets, papad, and frozen foods across India and in overseas markets.
Industry Legacy and the Haldiram's Connection
The story of Bikaji is inseparable from the larger narrative of the Bikaner snack industry, which has produced several nationally dominant brands. The Agarwal family's association with Haldiram's dates back generations, and the eventual business separation gave rise to independent empires — a pattern not uncommon in Indian family business history.
What set Shiv Ratan Agarwal apart was his ability to build a distinct identity for Bikaji at a time when the snack market was fragmented and largely unorganised. His emphasis on quality, regional authenticity, and aggressive distribution laid the groundwork for the company's eventual IPO and institutional investor interest.
This comes amid a broader trend of traditional Indian snack brands modernising, listing on bourses, and competing with multinational FMCG giants — a transformation that Agarwal himself helped catalyse.
Political and Business Community Mourns
Former Rajasthan Chief Minister Ashok Gehlot was among the first prominent figures to express grief over the loss. In a post on X (formerly Twitter), Gehlot wrote: The news of the sudden passing of the country's renowned industrialist and Chief Managing Director of Bikaji, Shiv Ratan Agarwal, is deeply saddening. The demise of Shiv Ratan Agarwal, who brought fame to Bikaner's Bhujia both within the country and abroad through the Bikaji brand, is an irreparable loss. I pray to God to grant peace to the departed soul and to bestow upon the bereaved family the strength to bear this grief. Om Shanti.
Condolences have poured in from across the business community, with industry peers acknowledging that Agarwal's contribution to the organised snack sector in India was foundational and enduring.
What Happens Next for Bikaji Foods
With Shiv Ratan Agarwal's passing, questions will inevitably arise about the leadership transition at Bikaji Foods International. His son Deepak Agarwal, after whom the original company was named, has been involved in the business and is expected to play a central role in steering the company forward.
As a publicly listed entity, Bikaji Foods will be required to communicate formally with stock exchanges and shareholders regarding any changes in board composition or management structure. Investors and market watchers will be closely monitoring the company's next steps.
The passing of its founder marks the end of an era for one of Rajasthan's most celebrated entrepreneurial success stories — but the brand he built, rooted in the heritage of Bikaner and the resilience of Indian enterprise, is likely to endure as his most lasting legacy.
Point of View
Armed with little more than a family recipe and stubborn resolve. That he died while nursing his wife — not at a conference or on a junket — says everything about the generation of industrialists who built India's consumer economy quietly and without fanfare. His story also exposes a gap in how India celebrates its business builders: Bikaji is a billion-dollar brand, yet Agarwal remained largely unknown outside Rajasthan. As Bikaji navigates its first leadership transition as a listed company, the real test will be whether institutional structures can preserve the soul of a founder-driven enterprise.
NationPress
1 May 2026
Frequently Asked Questions
How did Shiv Ratan Agarwal die?
Shiv Ratan Agarwal died of a sudden heart attack on April 24 in Chennai. He had been staying in the city with his family while his wife recovered from heart bypass surgery, and collapsed at approximately 7:30 a.m. before being rushed to a private hospital where he was declared dead.
Who founded Bikaji Foods International?
Bikaji Foods International was founded by Shiv Ratan Agarwal, who started the company in Bikaner, Rajasthan, under the name Shivdeep Foods Products. The brand was renamed Bikaji in 1993, inspired by Rao Bika, the historical founder of Bikaner city.
What is the connection between Bikaji and Haldiram's?
Shiv Ratan Agarwal's family had historical ties to the Haldiram's snack business. Following a division in that family enterprise, Agarwal chose to start independently, eventually building Bikaji into a rival national brand in the packaged snack segment.
Who will lead Bikaji Foods after Shiv Ratan Agarwal's death?
Shiv Ratan Agarwal's son Deepak Agarwal, after whom the original company was named, is expected to play a key leadership role going forward. As a listed company, Bikaji Foods International will need to formally update stock exchanges on any management or board changes.
What was Shiv Ratan Agarwal's contribution to the Indian snack industry?
Agarwal transformed Bikaner's traditional bhujia-making into a nationally organised, publicly listed FMCG business. His brand Bikaji helped bring regional Indian snacks into mainstream retail and international markets, contributing significantly to the formalisation of India's snack industry.
