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.
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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
