Mrs Bectors Food Specialities Ltd opened its three-day Rs 541-crore initial public offering (IPO) on Tuesday to strong demand and it was over-subscribed in just two hours. As of 12:30pm, the IPO was subscribed 1.57 times with the retail segment subscribed nearly three times. The initial share-sale for public subscription will close on December 17. Mrs Bectors Food, which had filed preliminary papers for IPO in October 2020, got Securities and Exchange Board of India’s (Sebi) nod in November.
The IPO of Mrs Bectors Food, a supplier of buns to quick-service restaurant (QSR) chains such as McDonald’s, KFC, Burger King and Carl’s Jr among others, comes in the wake of stellar response to Burger King IPO whose shares doubled on the day of their listing on Monday.
Here are 7 things to know about Mrs Bectors Food IPO:
1. The price band in Mrs Bectors Food IPO has been fixed at ₹286-288 per equity share of a face value of ₹10 each, the company said in a statement.
2. The minimum bid lot is 50 equity shares and multiples of 50 equity shares.
3. The IPO comprises fresh issuance of shares worth Rs 40.54 crore and offer for sale to the tune of Rs 500 crore by existing shareholders through which the company aims to achieve the benefit of listing on the stock exchanges.