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Mrs Bectors Food share closes 106% higher on market debut

Mrs Bectors Food share gained 106.79% to Rs 595.55  on BSE against its IPO issue price of Rs 288. Earlier, the share listed at 73.9% to the issue price

twitter-logoBusinessToday.In | December 24, 2020 | Updated 19:08 IST
Mrs Bectors Food share closes 106% higher on market debut
Share of Mrs Bectors Food opened at Rs 501 on BSE. The share further rose to Rs 601.20 intra day, a 108.75% premium above the issue price.

Mrs Bectors Food share closed 106.79% higher to its issue price on its market debut today. The stock gained 106.79% to Rs 595.55  on BSE against its IPO issue price of Rs 288. Earlier, the share listed at 73.9% to the issue price. Share of Mrs Bectors Food opened at Rs 501 on BSE.

The share further rose to Rs 601.20 intra day, a 108.75% premium above the issue price.

Market cap of the firm rose to Rs 3,410 crore.

On NSE, the share listed at Rs 500 against IPO issue price of Rs 288. It closed at Rs 594.2 on NSE, logging gain of 106.20% or Rs 306.20 against its issue price.

The share rose up to Rs 600 on NSE intra day clocking gains of 108.33% on an intra day basis. On NSE, market cap of the share rose to Rs 3,402 crore.

The price band of the IPO was fixed at Rs 286-288 per equity share.

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The IPO saw a bumper subscription on its last day (December 17). The biscuit maker's share sale was subscribed 198.02 times the issue size. The IPO received bids for 262.10 crore equity shares against offer size of more than 1.32 crore equity shares (excluding anchor book), subscription data showed.

Portion for retail investors was subscribed 29.3 times and that of employees saw bids 45.45 times the size allocated for them.

Portion allocated for non-institutional investors saw subscription of 620.85 times and that of qualified institutional buyers 176.85 times.

The firm plans to raise Rs 450-500 crore through the IPO. The company's biscuit products are sold under the flagship brand 'Mrs Bector's Cremica', and the premium bakery products under 'English Oven'.

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