Mrs. Bectors Food Specialties IPO Will Open For Subscription
Mrs. Bectors Food Specialties IPO will open for subscription next week, know price band, lot size and other information.
Bread and biscuits maker Mrs Bectors Food Specialties is set to launch an IPO in the middle of next week.
The company aims to raise Rs 450-500 crore through this Initial Public Offer (IPO). The company’s proposed IPO will open for subscription on 15 December.
Investors will be able to subscribe to this IPO by December 17. Anoop Bector, managing director of Mrs Bectors Food Specialties, informed the reporters during the IPO roadshow.
Know the price band and lot size
The company has fixed a price of Rs 286-288 per equity share for this IPO. To invest in this IPO, you have to invest in at least 50 shares.
40.54 crore worth of new equity shares will be issued under this IPO. At the same time, shares worth Rs 500 crore will be issued through Offer for Sale.
Under this IPO, 50% shares will be reserved for qualified institutional buyers (QIB). At the same time, 35 percent shares will be reserved for retail investors.
If the promoters are not selling any shares under this IPO, then the promoter’s share will remain more than 51 percent even after this initial public offer.
“We have a 52 percent stake in the company and we are not going to sell any equity,” Bector told media. Therefore, our share will decline only because of the primary issue and our stake will remain at more than 51 percent. ”
The funds raised through the IPO will be used to expand the company’s manufacturing facility in Rajpura and to set up a new production line.
The company sells biscuits under the brand name ‘Cremica’. In addition, the company manufactures cookies, creams, crackers, digestive biscuits under the brand name “English Oven”.
Mrs Bectors Food Specialties is one of the leading companies to supply Quick Service Restaurants (QSR), including McDonald’s, KFC, Burger King and Carles Jr.
