Mrs Bectors Food Specialities, a premium biscuit-maker and leading supplier of buns to fast-food chains such as Burger King and McDonald’s, will launch its Rs 550 crore initial public offering (IPO)
About Company
Incorporated at Ludhiana in 1995, Mrs. Bectors Food Specialities manufactures and markets a range of biscuits (cookies, creams, crackers, digestive, etc.) under its flagship brand ‘Mrs Bectors Cremica’ and bakery products (bread, buns, pizza bases, cakes, etc.) under the brand ‘English Oven’.
IPO details
The IPO would comprise of a fresh issue of equity shares worth Rs 40.54 crore and an offer for sale (OFS) by existing shareholders worth Rs 500 crore.
Price Band
The company has set a price band of Rs 286-288 apiece.
Subscription Date
The primary market offering will be open for three days from December 16 to December 18, 2020.
Lot Size
One can apply for Mrs Bectors Food Specialities IPO with a lot size of 50 shares for Rs 14,400.
Fund Utilisation
Mrs Bectors Food will use the IPO funds to expand its manufacturing unit at Rajpura in Punjab and for general corporate purposes.
Grey Market at Premium
Today in the grey market, Mrs Bectors Food Specialities shares were seen trading at Rs 418, a premium of 45 per cent over the issue price of Rs 288 apiece
Reservation Quota
50 per cent of the issue will be reserved for Qualified Institutional Buyers (QIB)
while 35 per cent will be reserved for retail investors.
and more than 15 per cent for the non-Institutional Investors (NIIs).
Reservation for employees
The employee reservation portion would be up to Rs 50 lakh.
Mrs Bectors Food Specialities is offering a discount of Rs 15 per equity share to employees.
Company’s Financial
Intermediaries
SBI Capital, ICICI Securities and IIFL Capital are the lead managers to the issue.
And, Link Intime India is the registrar to the issue.
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