Mrs. Bectors IPO Subscribed 114 Times So Far On Final Day
An employee inspects biscuits on a conveyor belt. (Photographer: Chris Warde-Jones/Bloomberg News)

Mrs. Bectors IPO Subscribed 114 Times So Far On Final Day

Investors continued to lap up shares of Mrs. Bectors Food Specialities Ltd., a supplier to McDonald’s to KFC, on the final day of subscription for its initial public offering.

The maiden offer was subscribed 114.74 times as of 1:30 p.m. on Dec. 17, led by high net worth individuals, according to data compiled from Edelweiss Partners. Interest from institutional investors, too, picked up the pace.

Subscription details:

  • Qualified institutional buyers: 52.03 times
  • High net worth individuals: 409.90 times
  • Retail investors: 24.29 times
  • Employee: 39.62 times

Also read: Mrs. Bectors IPO: Here’s All You Need To Know

The maiden offer comprises a fresh equity issue worth Rs 40.5 crore and a Rs 500-crore offer-for-sale by Linus Pvt., Mabel Pvt., GW Crown Pte. and GW confectionary Pte. The price band for selling shares has been fixed at Rs 286-288 apiece, according to its red herring prospectus.

The company, according to exchange filing, has raised Rs 162 crore by allocating 56,25,415 shares to anchor investors, including Goldman Sachs India Ltd., HDFC Life Insurance, Franklin India Smaller Companies Fund and IDFC Emerging Business Fund, among others. A total of seven mutual funds applied through a total of 23 schemes.

Mrs. Bectors plans to use the proceeds to expand its biscuit factory at Rajpura, Punjab.

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