Mrs Bectors IPO fully subscribed on day 2
Published On: Wednesday, December 16, 2020 | By: Team KnowMyStock
The IPO of bread and biscuits maker Mrs Bectors Food opened on 15th December to strong demand and was oversubscribed in just two hours. The issue will close on December 17 with a price band of Rs 286-288 per share. Investors can bid for a minimum of 50 equity shares and thereafter in multiples of 50 equity shares. The Rs 541 crore initial public offer attracted over 12.05 times and 11.53 times subscription on Day 2 of the bidding process so far. The IPO consists of a fresh issue of Rs 40.54 crore and an offer for sale of Rs 500 crore by public shareholders. "Mrs Bector IPO is priced lower compared to the peers on the valuation front making it a strong candidate for stellar listing. The funds raised through the IPO will be utilised for brown-field expansion of its Rajpura manufacturing unit and establishing a new production line.
Mrs Bectors Food Specialities is one of the leading companies in the premium and mid-premium biscuits segment and the premium bakery segment in North India, with a market share of around 4.5 per cent in the premium and mid-premium segments.
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