Bread and biscuits maker Mrs Bectors Food Specialities will launch its initial public offering on December 15. The firm which supplies buns to quick-service restaurant (QSR) chains such as McDonald's, KFC, Burger King and Carl's Jr among others plans to raise Rs 450-500 crore through the IPO.
The company intends to fund its brownfield expansion of Rajpura manufacturing unit in Punjab through the proceeds of IPO. The IPO will close on December 17. Price band for the share sale has been fixed at Rs 286-288 per equity share of a face value of Rs 10 each.
The minimum bid lot for the IPO is 50 equity shares and multiples of 50 equity shares thereafter, Mrs Bectors Food Specialities managing director Anoop Bector said at the IPO roadshow.
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.
Qualified Institutional Buyers (QIB) will be allocated up to 50 per cent of the issue. Retail investors can subscribe to 35 per cent of the issue and up to 15 per cent will be reserved for non-institutional investors (NIIs). The employee reservation portion would be up to Rs 50 lakh.
The company sells biscuits under the ''Cremica'' brand and manufactures and markets a wide range of biscuits such as cookies, creams, crackers, digestive biscuits, and an array of premium breads under the ''English oven'' brand.
SBI Capital Markets, ICICI Securities and IIFL Securities are the books running lead managers of the issue.
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