Mrs. Bectors IPO Becomes Most Subscribed Issue In India Since 2017

The initial public offering of Mrs. Bectors Food Specialities Ltd. saw frenzied demand on the final day of bidding, making it the most successful issue by any Indian company in over three years.

The IPO 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 Standard Life Insurance Co., 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.

Research reports on Mrs. Bectors IPO:

• Anand Rathi: Mrs. Bectors Food IPO - Investment Rationale

• KRChoksey: Mrs. Bectors Food IPO - Investment Rationale

• ICICI Direct: Mrs. Bectors Food IPO - Investment Rationale

• Prabhudas Lilladher: Mrs. Bectors Food IPO - Biscuits Scalability An Opportunity

• Geojit: Mrs. Bectors Food IPO - A Well-Positioned Player With Growth Opportunities

• Nirmal Bang: Mrs. Bectors Food IPO Analyst Meet Takeaways