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Universal Times Magazine > Blog > IPO Updates > Mrs Bectors Food all set to Launch IPO of Rs 550 crore
IPO Updates

Mrs Bectors Food all set to Launch IPO of Rs 550 crore

Gaurav Verma
Last updated: 2020/12/10 at 12:12 PM
Gaurav Verma
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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)

Contents
About CompanyIPO detailsPrice BandSubscription DateLot SizeFund UtilisationGrey Market at PremiumReservation QuotaReservation for employeesCompany’s FinancialIntermediaries

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)

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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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Gaurav Verma December 10, 2020 December 10, 2020
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