Mrs. Bectors Food IPO To Open On December 16

Biscuit and bread making company that also supplies to Burger King and Mc Donalds, Mrs. Bector Food will open its IPO offer on December 16. There has been a series of issues opening up in the primary market back to back and investors' interest remains strong too amid record high market as was seen in Burger King IPO.

Mrs. Bectors Food IPO To Open On December 16

IPO size: Rs. 540.54 crore

Fresh equity issuance will be of Rs. 40.54 crore
OFS will be of Rs. 500 crore
Price band: Rs. 286- Rs. 288 per share
Minimum bid lot: 50 shares for Rs. 14400

Issue objective:

The proceeds from fresh issuance will be put to finance the project cost in expanding the Rajpura Manufacturing Facility by establishing a new production line for biscuits.

About the company: The company sells bakery products under the name 'English Oven' and biscuit and other cookies under the name 'Cremica'.
In the grey market, the unlisted shares of Mrs. Bectors commanded a high premium of over 45% more than the issue price.

SBI Capital Markets, ICICI Securities and IIFL Securities are the book running lead managers, while Link Intime India is the registrar to the issue.

GoodReturns.in