Mrs Bectors Food Specialities IPO Subscribed 198 Times, Highest in 2020

December 20, 2020 0 By boss


Mrs Bectors Food Specialities had priced the share offering at Rs 286-Rs 288 per share.

Mrs Bectors Food Specialities’ initial public offering (IPO) witnessed the highest subscription among IPOs in calendar year 2020. The biscuits and bakery products maker’s Rs 540.54-crore IPO was subscribed 198.02 times, backed by a strong response from all investors. The primary market offering received bids for 262.10 crore shares as against the offer size of more than 1.32 crore equity shares (excluding anchor book), as per subscription data on the stock exchanges.

The high-networth individual (HNI) portion was subscribed 620.85 times, qualified institutional buyer (QIB) category, 176.85 times and retail category saw 29.3 times subscription.

Mrs Bectors had priced the share offering, which was open between December 15 and December 17, at Rs 286-Rs 288 per share.

The IPO comprised 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. This included an offer for sale amounting to Rs 245 crore by Linus, up to Rs 38.50 crore by Mabel, up to Rs 186 crore by GW Crown and up to Rs 30.50 crore by GW Confectionary.

Newsbeep

The massive oversubscription of Mrs Bectors IPO comes close on the heels of successful debut by Burger King India, whose stock tripled on listing.

Among the major IPO subscription figures this year, Mazagon Dock Shipbuilders’ maiden public offer was subscribed 157.41 times,Burger King India attracted 156.65 subscription, Happiest Minds Technologies, 150.98 times and Chemcon Speciality Chemicals, 149.3 times.

Mrs Bectors Food Specialities manufactures cookies, creams, crackers, digestives and glucose under the brand name, Mrs. Bector’s Cremica, and savoury and sweet categories under the brand, English Oven.



Source link