Mrs Bectors Food IPO subscribed 3.7 times on first day
Mrs Bectors Food IPO: The issue received bids for 4.92 crore shares, against 1.32 crore shares on offer, according to data available with the NSE
- Dec 15, 2020,
- Updated Dec 16, 2020 5:56 PM IST
The initial public offer (IPO) of Mrs Bectors Food Specialities was subscribed 3.72 times on first day today. The issue received bids for 4.92 crore shares, against 1.32 crore shares on offer, according to data available with the NSE.
The retail segment was subscribed 6.83 times and portion reserved for employees was subscribed 9.5 times. The portion reserved for non-institutional investors saw a subscription of 1.37 times. The IPO will close on December 17.
This is the second IPO in December to receive over-subscription in the first few hours itself after Burger King India. On Monday, Mrs Bectors Food Specialities raised Rs 162 crore from anchor investors. The firm plans to raise Rs 450-500 crore through the IPO. Price band for the IPO has been fixed at Rs 286-288 per equity share.
Face value of the stock is Rs 10 per share each. The proceeds of the IPO will be used to fund brownfield expansion of Rajpura manufacturing unit in Punjab.
The minimum bid lot for the IPO is 50 equity shares and multiples of 50 equity shares thereafter. A retail-individual investor can apply for up to 13 lots (650 shares or Rs 1,87,200).
The IPO will comprise of a fresh issue of equity shares worth Rs 40.54 crore and an offer for sale (OFS) by existing shareholders worth Rs 500 crore. This includes an offer for sale aggregating up to Rs 245 crore by Linus, up to Rs 38.50 crore by Mabel, up to Rs 186 crore by GW Crown PTE. Ltd and up to Rs 30.50 crore by GW Confectionary PTE.
Mrs Bectors Food's IPO to open on December 15: 10 things to know
The initial public offer (IPO) of Mrs Bectors Food Specialities was subscribed 3.72 times on first day today. The issue received bids for 4.92 crore shares, against 1.32 crore shares on offer, according to data available with the NSE.
The retail segment was subscribed 6.83 times and portion reserved for employees was subscribed 9.5 times. The portion reserved for non-institutional investors saw a subscription of 1.37 times. The IPO will close on December 17.
This is the second IPO in December to receive over-subscription in the first few hours itself after Burger King India. On Monday, Mrs Bectors Food Specialities raised Rs 162 crore from anchor investors. The firm plans to raise Rs 450-500 crore through the IPO. Price band for the IPO has been fixed at Rs 286-288 per equity share.
Face value of the stock is Rs 10 per share each. The proceeds of the IPO will be used to fund brownfield expansion of Rajpura manufacturing unit in Punjab.
The minimum bid lot for the IPO is 50 equity shares and multiples of 50 equity shares thereafter. A retail-individual investor can apply for up to 13 lots (650 shares or Rs 1,87,200).
The IPO will comprise of a fresh issue of equity shares worth Rs 40.54 crore and an offer for sale (OFS) by existing shareholders worth Rs 500 crore. This includes an offer for sale aggregating up to Rs 245 crore by Linus, up to Rs 38.50 crore by Mabel, up to Rs 186 crore by GW Crown PTE. Ltd and up to Rs 30.50 crore by GW Confectionary PTE.
Mrs Bectors Food's IPO to open on December 15: 10 things to know