Mrs Bectors Food announces IPO

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Mrs. Bectors Food Specialities’ Rs 541 crore initial public offer (IPO) is set to open on December 15 and will close on December 17, and the price band for the same is set at Rs 286-288 a piece.
The IPO of premium biscuit-maker and leading supplier of buns to fast-food chains, such as Burger King and McDonald’s, comprises sale of shares worth Rs 500 crore by Linus Pvt Ltd, Mabel Pvt Ltd, GW Crown Pte Ltd and GW confectionary Pte Ltd., and fresh issue worth Rs 40.5 crore.
Investors can bid for a minimum of 50 equity shares and thereafter in multiples of 50 equity shares.
Mrs Bectors Food manufactures and markets a range of products such as biscuits, breads and buns. It markets a wide variety of biscuits and bread under the flagship brand “Mrs Bector’s Cremica” and the “English Oven” respectively.
Earlier in 2018, the company had filed draft papers with Sebi seeking to raise Rs 800 crore through IPO and had obtained the regulator’s approval to float the public issue. However, the company could not launch the initial share-sale due to averse market conditions, merchant bankers had said then.

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