Mrs Bectors Food Specialties’ shares will make their debut on the bourses today. biscuits and bakery products maker’s Rs 540.54 crore maiden initial public offering (IPO) had witnessed the highest subscription among IPOs in calendar year 2020. The IPO was subscribed 198.02 times, backed by a strong response from all investors. The primary market offering was open between December 15 and December 17 and the shares were issued at a price of Rs 286-288 per share.
The bakery products maker’s initial public issue consisted of a fresh issue of Rs 40.54 crore and an offer for sale of Rs 500 crore by existing shareholders. Linus Private Limited will sell equity shares amounting to Rs 245 crore, Mabel Private Limited will sell Rs 38.5 crore, GW Crown, Rs 186 crore and GW Confectionary, Rs 30.5 crore.
Mrs Bectors Food Specialties will use the IPO funds to expand its Rajpura manufacturing facility.
Incorporated in 1995, Mrs Bectors Food Specialties produces biscuits such as cookies, creams, crackers, digestives and glucose under the flagship brand ‘Mrs Bector’s Cremica’. It also manufactures and markets bakery products such as breads, buns, pizza base and cakes under the ‘English Oven’ brand. It is also one of the largest suppliers of buns in India to Burger King India and Connaught Plaza Restaurants.