The Rs 540.54 crore-IPO of the bread and biscuit maker Mrs. Bectors Food Specialties Ltd opened for subscription on Tuesday and got over-subscribed on the day one itself. The price band is fixed at Rs 286-288 per share.
At 4:00 pm, the public issue received bids for 3.07 crore equity shares against an offer size of 1.32 crore equity shares, excluding the anchor book portion, the data available on the NSE showed.
Retail book got subscribed 4.37 times and that of employees had been bid 86 percent. The reserved portion of non-institutional investors received a subscription of 66 percent and qualified institutional buyers subscribed 0.02 percent to the issue.
Also read:
The portion reserved for retail investors is 35 percent, qualified institutional buyers is 50 percent and that for non-institutional buyers is 15 percent.
The premium biscuits and bakery products maker Mrs. Bectors Food Specialities raised Rs 162 crore from anchor investors ahead of its initial public offer opening today.
The IPO comprises of a fresh issue of equity shares worth Rs 40.54 crore and an offer for sale (OFS) worth Rs 500 crore by existing shareholders Linus Pvt Ltd, GW Confectionary PTE. Ltd., GW Crown PTE. Ltd and Mabel Pvt Ltd.
The lot size of the issue is 50 shares. A retail-individual investor can apply for up to 13 lots (650 shares or Rs 187,200).
This offer includes a reservation of up to such equity shares aggregating up to Rs 50 lakh for purchase by eligible employees. A discount of Rs 15.00 per equity share shall be offered to eligible employees bidding in the Employee Reservation Portion.
The proceeds from the fresh issue will be used for financing the project cost towards the expansion of Rajpura facility by establishing a new production line for biscuits.
SBI Capital Markets, ICICI Securities and IIFL Securities are the Book Running Lead Managers to the Offer.
(Edited by : Jomy)
First Published: Dec 15, 2020 4:19 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
2024 Lok Sabha Election | Which way the wind blows in the second phase
Apr 26, 2024 6:09 PM
Election Commission registers case against BJP's Tejasvi Surya for alleged violation of poll code
Apr 26, 2024 5:08 PM
2024 Lok Sabha Elections | Why Kerala is in focus as the second phase begins to vote
Apr 26, 2024 9:33 AM
Bengaluru Rural Lok Sabha election: Over 60% voter turnout recorded by 5 pm
Apr 26, 2024 9:11 AM