Mrs Bectors Food Specialities Listing: Debut today on bourses; find details
Mrs Bectors Food Specialities shares will debut on bourses, NSE and BSE, today, December 24, 2020, after receiving a strong response to its initial public offering.
The Rs 540.54 crore initial public offer (IPO) of the bread and biscuits marker Mrs Bectors Food Specialities was subscribed a whopping 197.38 times, becoming the most subscribed issue of 2020 so far. It also trumped the subscription of Burger King India, Happiest Minds Technologies and Mazagon Dock Shipbuilders that came earlier in the year.
The public issue opened for subscription on December 15, 2020, and closed on Thursday, December 17, 2020. The issue was available at a price band of Rs 286-288 per share.
The IPO comprised fresh issuance of shares worth Rs 40.54 crore and an offer for sale to the tune of Rs 500 crore by existing shareholders. Linus Private Limited, Mabel Private Limited, GW Confectionery Pte Ltd and GW Crown Pte Ltd will be offering stocks in the initial share-sale.
SBI Capital Markets, ICICI Securities and IIFL Securities were the managers to the offer.
Mrs Bectors Food Specialities one of the leading companies in the premium and mid-premium biscuits and bakery segments in North India. It is the largest supplier of buns in India to reputed QSR chains such as Burger King India Limited, Connaught Plaza Restaurants Private Limited etc., Technopak Report. Its revenue from operations, EBITDA and net profits have grown by 18.20 per cent, 84.94 per cent and 282.18 per cent respectively from September 30, 2019, to September 30, 2020.
In FY2020, it had a market share of 4.5 per cent of the premium and mid-premium biscuits market in North India respectively, Technopak Report.
It distributes its biscuits across 23 states in India through a distribution network comprising of 196 super stockists and 748 distributors supplying to a wide range of customers through 458,000 retail outlets, Technopak Report.