Tag: oversubscribed

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. Read more

Shares of Burger King India (BKIL) the Indian subsidiary of the US-based made a strong debut on Monday gaining 131 per cent premium of Rs. 138 against its issue price of Rs 60 on the BSE. Burger King’s initial public offering was massively oversubscribed by investors across categories earlier this month. Overall, the issue was subscribed 156 times, making it the second most subscribed IPO of 2020. Quick service restaurant (QSR) offers good long-term opportunity, suggested by the management’s growth plan and the FY21 performance so far. The company intends to utilise the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes. The QSR chain owned by QSR Asia continued to report losses in previous financial years but there has been strong growth in revenue and stable gross margin performance. Analysts say investors can book profits of half of the investment amount in short term and hold the rest for the long term.

Shares of Rossari Biotech made a strong debut by listing at Rs 670, a 58 per cent against its issue price of Rs 425 per share on the BSE on Thursday and rallied 64 per cent to hit a high of Rs 698 on the exchange. The company's nearly Rs 500-crore maiden offer was subscribed 79 times on the final day of bidding, according to data available on the exchanges. Its promoter shareholding has now fallen to 73% from 95%. The ₹496-crore IPO received bids for 64,87,33,645 shares against the total issue size of 81,73,530 shares, according to data available with the NSE. Rossari Biotech had raised ₹149 crores from anchor investors. Rossari is among the largest manufacturers of textile speciality chemicals in India. It also manufactures acrylic polymers. The company offers three main product categories -- namely home, personal care and performance chemicals; textile speciality chemicals and animal health & nutrition products.